Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Shares Purchased by Invesco Ltd.

Invesco Ltd. boosted its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 9.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,217,329 shares of the company’s stock after acquiring an additional 102,042 shares during the period. Invesco Ltd. owned about 3.04% of Skyward Specialty Insurance Group worth $61,524,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SKWD. ORG Wealth Partners LLC acquired a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth about $61,000. Pinnacle Financial Partners Inc purchased a new position in shares of Skyward Specialty Insurance Group in the fourth quarter valued at approximately $220,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter worth approximately $230,000. Kirr Marbach & Co. LLC IN purchased a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter worth approximately $252,000. Finally, Orion Portfolio Solutions LLC purchased a new position in Skyward Specialty Insurance Group in the 3rd quarter valued at $297,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SKWD shares. Jefferies Financial Group cut shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $62.00 to $59.00 in a research report on Friday. Wolfe Research restated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Piper Sandler reduced their price objective on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a “hold” rating and a $43.00 target price for the company. Finally, Barclays boosted their price target on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Insider Activity at Skyward Specialty Insurance Group

In other news, insider John A. Burkhart III sold 4,832 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.24, for a total transaction of $242,759.68. Following the sale, the insider now owns 17,655 shares of the company’s stock, valued at approximately $886,987.20. This represents a 21.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas N. Schmitt sold 6,300 shares of Skyward Specialty Insurance Group 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 transaction, the insider now 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 12,132 shares of company stock worth $620,476 in the last three months. 8.01% of the stock is owned by company insiders.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD opened at $53.93 on Tuesday. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $33.27 and a fifty-two week high of $55.62. The company has a 50 day moving average price of $50.68 and a 200 day moving average price of $48.64. The stock has a market capitalization of $2.18 billion, a P/E ratio of 16.44, a PEG ratio of 0.81 and a beta of 0.63.

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

Skyward Specialty Insurance Group 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.