Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 54.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,362 shares of the company’s stock after buying an additional 1,186 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Skyward Specialty Insurance Group were worth $114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SKWD. Vanguard Group Inc. lifted its stake in Skyward Specialty Insurance Group by 109.5% in the third quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company’s stock worth $41,390,000 after acquiring an additional 790,826 shares during the last quarter. Jennison Associates LLC raised its stake in Skyward Specialty Insurance Group by 35.2% in the third quarter. Jennison Associates LLC now owns 1,356,301 shares of the company’s stock valued at $37,108,000 after buying an additional 352,971 shares in the last quarter. American Century Companies Inc. lifted its holdings in Skyward Specialty Insurance Group by 10.3% during the 3rd quarter. American Century Companies Inc. now owns 587,687 shares of the company’s stock worth $16,079,000 after buying an additional 54,945 shares during the last quarter. Peregrine Capital Management LLC boosted its position in shares of Skyward Specialty Insurance Group by 27.4% during the 4th quarter. Peregrine Capital Management LLC now owns 520,485 shares of the company’s stock worth $17,634,000 after acquiring an additional 112,081 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Skyward Specialty Insurance Group by 223.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 389,530 shares of the company’s stock valued at $13,197,000 after acquiring an additional 269,080 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Mark W. Haushill sold 35,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $35.96, for a total value of $1,258,600.00. Following the completion of the sale, the chief financial officer now owns 261,688 shares in the company, valued at $9,410,300.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 25,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $35.58, for a total transaction of $889,500.00. Following the completion of the transaction, the chief financial officer now directly owns 236,688 shares in the company, valued at approximately $8,421,359.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark W. Haushill sold 35,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the completion of the sale, the chief financial officer now owns 261,688 shares in the company, valued at $9,410,300.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 98,890 shares of company stock worth $3,533,839. Corporate insiders own 8.01% of the company’s stock.

Skyward Specialty Insurance Group Stock Performance

Shares of Skyward Specialty Insurance Group stock opened at $36.93 on Friday. The company has a market cap of $1.48 billion, a P/E ratio of 13.58 and a beta of 0.68. The firm has a fifty day moving average of $36.33 and a two-hundred day moving average of $33.55. Skyward Specialty Insurance Group, Inc. has a one year low of $21.93 and a one year high of $38.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. Skyward Specialty Insurance Group had a return on equity of 16.81% and a net margin of 11.16%. The company had revenue of $264.97 million for the quarter, compared to analyst estimates of $251.66 million. During the same quarter in the previous year, the company earned $0.42 EPS. As a group, equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SKWD. Piper Sandler upped their price target on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Monday, April 1st. JMP Securities increased their target price on shares of Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the company a “market outperform” rating in a research report on Thursday, May 2nd. BMO Capital Markets upped their price objective on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. Keefe, Bruyette & Woods lifted their target price on Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Truist Financial upped their target price on Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Skyward Specialty Insurance Group presently has a consensus rating of “Buy” and a consensus target price of $40.78.

Skyward Specialty Insurance Group Company 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.