Raymond James Financial Services Advisors Inc. Takes Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 20,293 shares of the company’s stock, valued at approximately $688,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SKWD. Tower Research Capital LLC TRC increased its stake in shares of Skyward Specialty Insurance Group by 390.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,032 shares of the company’s stock valued at $52,000 after acquiring an additional 1,618 shares during the last quarter. Amalgamated Bank increased its stake in shares of Skyward Specialty Insurance Group by 90.9% during the 3rd quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock valued at $63,000 after acquiring an additional 1,095 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Skyward Specialty Insurance Group during the 1st quarter valued at about $81,000. California State Teachers Retirement System acquired a new position in shares of Skyward Specialty Insurance Group during the 1st quarter valued at about $84,000. Finally, Citigroup Inc. acquired a new position in shares of Skyward Specialty Insurance Group during the 2nd quarter valued at about $87,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Insider Activity at Skyward Specialty Insurance Group

In related news, CFO Mark W. Haushill sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $35.58, for a total transaction of $889,500.00. Following the sale, the chief financial officer now directly owns 236,688 shares of the company’s stock, valued at approximately $8,421,359.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 13,374 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total value of $477,451.80. Following the sale, the chief executive officer now directly owns 96,883 shares of the company’s stock, valued at $3,458,723.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Haushill sold 25,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $35.58, for a total value of $889,500.00. Following the completion of the sale, the chief financial officer now directly owns 236,688 shares in the company, valued at $8,421,359.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 98,890 shares of company stock valued at $3,533,839. Corporate insiders own 8.01% of the company’s stock.

Skyward Specialty Insurance Group Trading Down 2.6 %

SKWD stock opened at $34.66 on Thursday. The firm has a market cap of $1.39 billion, a P/E ratio of 15.47 and a beta of 0.45. Skyward Specialty Insurance Group, Inc. has a 12-month low of $20.81 and a 12-month high of $38.64. The stock’s 50 day simple moving average is $35.64 and its 200 day simple moving average is $32.75.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. The business had revenue of $321.60 million for 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%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. On average, research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 2.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SKWD. Truist Financial increased their target price on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Piper Sandler increased 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. JMP Securities increased their target price 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. BMO Capital Markets increased their target price on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, February 26th. Finally, Keefe, Bruyette & Woods increased 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 research report on Wednesday, April 10th. One investment 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 company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $39.89.

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.