Wasatch Advisors LP Purchases 15,407 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Wasatch Advisors LP raised its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 5.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 276,494 shares of the company’s stock after acquiring an additional 15,407 shares during the period. Wasatch Advisors LP owned approximately 0.69% of Skyward Specialty Insurance Group worth $10,344,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Skyward Specialty Insurance Group by 54.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock valued at $114,000 after purchasing an additional 1,186 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter valued at about $161,000. Adalta Capital Management LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the 3rd quarter valued at about $137,000. Diversified Trust Co boosted its stake in Skyward Specialty Insurance Group by 21.1% during the 4th quarter. Diversified Trust Co now owns 9,325 shares of the company’s stock valued at $316,000 after purchasing an additional 1,625 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Skyward Specialty Insurance Group by 53.8% during the 4th quarter. New York State Common Retirement Fund now owns 10,602 shares of the company’s stock valued at $359,000 after purchasing an additional 3,707 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SKWD shares. Piper Sandler lifted their target price on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Keefe, Bruyette & Woods lifted their price target on shares of Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Truist Financial lifted their price target on shares of Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, JMP Securities lifted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $47.00 and gave the stock a “market outperform” rating in a report on Monday. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Skyward Specialty Insurance Group has an average rating of “Buy” and a consensus price target of $42.75.

Insider Activity at Skyward Specialty Insurance Group

In related news, CFO Mark W. Haushill sold 3,244 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $37.18, for a total transaction of $120,611.92. Following the completion of the sale, the chief financial officer now owns 177,886 shares in the company, valued at approximately $6,613,801.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Corp Westaim sold 5,060,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $36.50, for a total value of $184,690,000.00. Following the completion of the sale, the insider now owns 1,919,639 shares in the company, valued at approximately $70,066,823.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark W. Haushill sold 3,244 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $37.18, for a total transaction of $120,611.92. Following the completion of the sale, the chief financial officer now owns 177,886 shares of the company’s stock, valued at approximately $6,613,801.48. The disclosure for this sale can be found here. Insiders sold 5,095,277 shares of company stock worth $186,000,945 in the last 90 days. 8.01% of the stock is owned by corporate insiders.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ:SKWD traded up $0.51 on Tuesday, reaching $36.61. The company’s stock had a trading volume of 279,950 shares, compared to its average volume of 370,743. Skyward Specialty Insurance Group, Inc. has a 52-week low of $22.97 and a 52-week high of $39.16. The company has a market cap of $1.46 billion, a P/E ratio of 13.46 and a beta of 0.63. The company has a 50-day simple moving average of $36.11 and a 200 day simple moving average of $35.00.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. Skyward Specialty Insurance Group had a net margin of 11.16% and a return on equity of 15.98%. The firm had revenue of $264.97 million during the quarter, compared to analysts’ expectations of $251.66 million. During the same period in the previous year, the company earned $0.42 EPS. On average, equities research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 2.78 EPS for the current fiscal year.

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.