Allspring Global Investments Holdings LLC Buys 269,080 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Allspring Global Investments Holdings LLC raised its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 223.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 389,530 shares of the company’s stock after acquiring an additional 269,080 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Skyward Specialty Insurance Group were worth $13,197,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SKWD. Royce & Associates LP purchased a new position in shares of Skyward Specialty Insurance Group during the first quarter valued at about $7,538,000. Barclays PLC purchased a new position in Skyward Specialty Insurance Group during the 1st quarter valued at approximately $187,000. California State Teachers Retirement System bought a new stake in Skyward Specialty Insurance Group in the 1st quarter worth approximately $84,000. Bank of New York Mellon Corp bought a new stake in Skyward Specialty Insurance Group in the 1st quarter worth approximately $654,000. Finally, Rhumbline Advisers purchased a new stake in shares of Skyward Specialty Insurance Group during the 1st quarter worth approximately $220,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JMP Securities boosted their price target on shares of Skyward Specialty Insurance Group from $40.00 to $42.00 and gave the stock a “market outperform” rating in a research report on Monday. Keefe, Bruyette & Woods boosted their target price on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. BMO Capital Markets increased their price target on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a report on Monday, February 26th. Piper Sandler boosted their price objective on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Finally, Wolfe Research began coverage on Skyward Specialty Insurance Group in a research note on Thursday, January 11th. They issued an “outperform” rating and a $39.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $39.89.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ:SKWD opened at $35.77 on Tuesday. The firm has a market capitalization of $1.43 billion, a PE ratio of 15.97 and a beta of 0.45. The business has a 50 day simple moving average of $35.46 and a two-hundred day simple moving average of $32.67. Skyward Specialty Insurance Group, Inc. has a 1 year low of $20.81 and a 1 year high of $38.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The firm had revenue of $321.60 million during the quarter, compared to analyst estimates of $320.34 million. Skyward Specialty Insurance Group had a return on equity of 14.31% and a net margin of 9.56%. Skyward Specialty Insurance Group’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS. Equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 2.64 EPS for the current fiscal year.

Insider Transactions at Skyward Specialty Insurance Group

In related news, CEO Andrew S. Robinson sold 13,407 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $35.63, for a total value of $477,691.41. Following the transaction, the chief executive officer now owns 61,126 shares of the company’s stock, valued at approximately $2,177,919.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Andrew S. Robinson sold 13,407 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $35.63, for a total transaction of $477,691.41. Following the completion of the sale, the chief executive officer now owns 61,126 shares of the company’s stock, valued at $2,177,919.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew S. Robinson sold 12,109 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $35.56, for a total value of $430,596.04. Following the completion of the sale, the chief executive officer now owns 74,533 shares of the company’s stock, valued at approximately $2,650,393.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,890 shares of company stock worth $3,533,839. 8.01% of the stock is currently owned by insiders.

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.