Oberweis Asset Management Inc. Has $6.65 Million Stock Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Oberweis Asset Management Inc. raised its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 131,600 shares of the company’s stock after purchasing an additional 5,000 shares during the period. Oberweis Asset Management Inc. owned 0.33% of Skyward Specialty Insurance Group worth $6,651,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SKWD. Summit Investment Advisors Inc. raised its stake in Skyward Specialty Insurance Group by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock worth $196,000 after buying an additional 247 shares during the period. Sterling Capital Management LLC increased its holdings in shares of Skyward Specialty Insurance Group by 756.1% during the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after acquiring an additional 809 shares in the last quarter. Riverwater Partners LLC raised its position in shares of Skyward Specialty Insurance Group by 2.5% during the fourth quarter. Riverwater Partners LLC now owns 35,013 shares of the company’s stock worth $1,770,000 after purchasing an additional 862 shares during the period. ORG Wealth Partners LLC bought a new position in shares of Skyward Specialty Insurance Group in the 4th quarter worth $61,000. Finally, MetLife Investment Management LLC grew its position in Skyward Specialty Insurance Group by 5.7% in the 4th quarter. MetLife Investment Management LLC now owns 22,841 shares of the company’s stock valued at $1,154,000 after purchasing an additional 1,224 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ:SKWD opened at $54.27 on Friday. Skyward Specialty Insurance Group, Inc. has a 1 year low of $33.27 and a 1 year high of $56.98. The company has a market capitalization of $2.19 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 0.81 and a beta of 0.63. The business has a fifty day moving average price of $51.47 and a two-hundred day moving average price of $49.23.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on SKWD. Jefferies Financial Group lowered shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $62.00 to $59.00 in a research note on Friday, April 11th. JMP Securities reiterated 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. Truist Financial increased their price objective on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Piper Sandler cut their target price 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. Finally, TD Cowen started coverage on Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a “hold” rating and a $43.00 price target for the company. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.00.

Insider Activity

In other news, insider John A. Burkhart III sold 4,832 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.24, for a total transaction of $242,759.68. Following the transaction, the insider now owns 17,655 shares of the company’s stock, valued at $886,987.20. This represents a 21.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas N. Schmitt sold 6,300 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $51.92, for a total value of $327,096.00. Following the transaction, the insider now owns 3,946 shares of the company’s stock, valued at $204,876.32. The trade was a 61.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,132 shares of company stock valued at $620,476 in the last three months. Company 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.