Wakefield Asset Management LLLP Sells 284 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Wakefield Asset Management LLLP trimmed its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,169 shares of the company’s stock after selling 284 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Skyward Specialty Insurance Group were worth $911,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital International Investors purchased a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth $50,632,000. Victory Capital Management Inc. purchased a new stake in Skyward Specialty Insurance Group in the 4th quarter worth $18,982,000. Norges Bank bought a new position in shares of Skyward Specialty Insurance Group during the 4th quarter valued at about $10,371,000. Vanguard Group Inc. grew its position in shares of Skyward Specialty Insurance Group by 11.3% during the first quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock valued at $76,458,000 after purchasing an additional 207,744 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Skyward Specialty Insurance Group by 19.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 464,667 shares of the company’s stock worth $17,383,000 after purchasing an additional 75,137 shares during the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ SKWD opened at $40.82 on Friday. The firm has a 50-day simple moving average of $38.22 and a two-hundred day simple moving average of $36.89. Skyward Specialty Insurance Group, Inc. has a 1 year low of $22.97 and a 1 year high of $41.98. The company has a market cap of $1.63 billion, a P/E ratio of 15.01, a PEG ratio of 0.77 and a beta of 0.60.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Monday, August 5th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.15. The business had revenue of $279.94 million for the quarter, compared to analyst estimates of $282.70 million. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. During the same quarter last year, the firm posted $0.42 earnings per share. As a group, equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 2.96 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on SKWD shares. Oppenheimer initiated coverage on Skyward Specialty Insurance Group in a report on Friday, July 12th. They set a “market perform” rating for the company. JMP Securities upped their price target on shares of Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 6th. Truist Financial reissued a “buy” rating and issued a $49.00 price objective (up from $47.00) on shares of Skyward Specialty Insurance Group in a research note on Wednesday, August 7th. Barclays assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Wednesday. They set an “equal weight” rating and a $44.00 target price on the stock. Finally, Keefe, Bruyette & Woods increased their price target on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.78.

Insider Activity

In other news, Director Katharine Terry sold 1,653 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $36.87, for a total transaction of $60,946.11. Following the transaction, the director now owns 4,001 shares in the company, valued at $147,516.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.01% of the company’s stock.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc, an insurance holding company, underwrites commercial property and casualty insurance products in the United States. It offers general liability, excess liability, professional liability, commercial auto, group accident and health, property, surety, and workers' compensation insurance products.