Numerai GP LLC Takes $266,000 Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Numerai GP LLC purchased a new position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 5,264 shares of the company’s stock, valued at approximately $266,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Barclays PLC grew its position in shares of Skyward Specialty Insurance Group by 277.7% in the third quarter. Barclays PLC now owns 64,032 shares of the company’s stock valued at $2,608,000 after purchasing an additional 47,081 shares during the period. JPMorgan Chase & Co. raised its position in shares of Skyward Specialty Insurance Group by 32.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company’s stock worth $3,515,000 after purchasing an additional 21,346 shares during the last quarter. Ellsworth Advisors LLC acquired a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth about $676,000. Kirr Marbach & Co. LLC IN purchased a new position in Skyward Specialty Insurance Group in the 4th quarter valued at about $252,000. Finally, Swedbank AB acquired a new stake in Skyward Specialty Insurance Group in the 4th quarter worth about $15,164,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Chairman Kirby Hill sold 8,249 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $60.87, for a total value of $502,116.63. Following the transaction, the chairman now owns 8,249 shares of the company’s stock, valued at $502,116.63. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gena L. Ashe sold 1,000 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total value of $50,620.00. Following the transaction, the director now owns 734 shares of the company’s stock, valued at approximately $37,155.08. This represents a 57.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,381 shares of company stock worth $1,122,592 in the last ninety days. 8.01% of the stock is owned by insiders.

Analysts Set New Price Targets

SKWD has been the subject of a number of research analyst reports. Wolfe Research reissued a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Jefferies Financial Group downgraded Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $62.00 to $59.00 in a research note on Friday, April 11th. Truist Financial raised their price objective on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a “buy” rating in a report on Monday, May 5th. Keefe, Bruyette & Woods upped their target price on shares of Skyward Specialty Insurance Group from $57.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Finally, Barclays raised their price target on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, April 11th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.13.

Skyward Specialty Insurance Group Stock Up 2.5%

Shares of SKWD opened at $62.56 on Friday. Skyward Specialty Insurance Group, Inc. has a 52-week low of $33.42 and a 52-week high of $63.68. The stock has a fifty day simple moving average of $53.57 and a two-hundred day simple moving average of $50.48. The company has a market capitalization of $2.53 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 0.81 and a beta of 0.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The firm had revenue of $328.53 million during the quarter, compared to analyst estimates of $310.94 million. During the same quarter in the prior year, the firm posted $0.75 earnings per share. As a group, equities analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share 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.