Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P cut its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 1.6% during the 4th quarter, Holdings Channel reports. The firm owned 357,399 shares of the company’s stock after selling 5,704 shares during the period. Loomis Sayles & Co. L P’s holdings in Skyward Specialty Insurance Group were worth $18,063,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Intech Investment Management LLC acquired a new stake in Skyward Specialty Insurance Group during the 3rd quarter valued at $279,000. The Manufacturers Life Insurance Company lifted its position in shares of Skyward Specialty Insurance Group by 0.3% in the third quarter. The Manufacturers Life Insurance Company now owns 336,882 shares of the company’s stock valued at $13,721,000 after acquiring an additional 1,032 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in shares of Skyward Specialty Insurance Group during the third quarter valued at $320,000. Glenmede Trust Co. NA increased its position in Skyward Specialty Insurance Group by 72.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 19,595 shares of the company’s stock worth $798,000 after purchasing an additional 8,200 shares in the last quarter. Finally, FORA Capital LLC acquired a new position in Skyward Specialty Insurance Group in the 3rd quarter valued at about $256,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SKWD. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price target on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Barclays upgraded shares of Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $53.00 to $63.00 in a research report on Friday, March 14th. Keefe, Bruyette & Woods boosted their price target on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 28th. TD Cowen assumed coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a “hold” rating and a $43.00 price target on the stock. Finally, Piper Sandler lowered their price objective on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.25.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, EVP Sandip A. Kapadia sold 4,347 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $49.51, for a total value of $215,219.97. Following the completion of the transaction, the executive vice president now owns 12,508 shares in the company, valued at $619,271.08. This represents a 25.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas N. Schmitt sold 6,300 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $51.92, for a total transaction of $327,096.00. Following the completion of the sale, the insider now directly owns 3,946 shares of the company’s stock, valued at $204,876.32. This trade represents a 61.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,450 shares of company stock worth $1,369,342 over the last ninety days. 8.01% of the stock is owned by company insiders.

Skyward Specialty Insurance Group Trading Down 1.0 %

Shares of SKWD opened at $52.62 on Friday. Skyward Specialty Insurance Group, Inc. has a twelve month low of $33.27 and a twelve month high of $55.62. The firm has a market capitalization of $2.11 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 0.81 and a beta of 0.67. The stock’s fifty day simple moving average is $48.72 and its 200 day simple moving average is $47.53.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The business had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $295.56 million. Sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Skyward Specialty Insurance Group Company Profile

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.