BNP Paribas Financial Markets Makes New $1.65 Million Investment in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

BNP Paribas Financial Markets bought a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 32,665 shares of the company’s stock, valued at approximately $1,651,000. BNP Paribas Financial Markets owned about 0.08% of Skyward Specialty Insurance Group as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Sterling Capital Management LLC raised its position in shares of Skyward Specialty Insurance Group by 756.1% in the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after buying an additional 809 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of Skyward Specialty Insurance Group by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after buying an additional 247 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $219,000. Pinnacle Financial Partners Inc acquired a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $220,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $230,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD stock opened at $63.61 on Monday. The firm has a market cap of $2.57 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 0.81 and a beta of 0.64. The company has a 50-day moving average of $53.87 and a two-hundred day moving average of $50.70. Skyward Specialty Insurance Group, Inc. has a 1-year low of $33.42 and a 1-year high of $63.66.

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

Insiders Place Their Bets

In other news, insider John A. Burkhart III sold 4,832 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the completion of the transaction, the insider now owns 17,655 shares of the company’s stock, valued at approximately $886,987.20. This trade represents a 21.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Kirby Hill sold 8,249 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $60.87, for a total transaction of $502,116.63. Following the completion of the transaction, the chairman now directly owns 8,249 shares of the company’s stock, valued at approximately $502,116.63. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,381 shares of company stock valued at $1,122,592 over the last 90 days. 8.01% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on SKWD. Barclays increased their target price on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday, April 11th. Wolfe Research restated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Citigroup restated an “outperform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. Keefe, Bruyette & Woods raised their price objective on shares of Skyward Specialty Insurance Group from $57.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Finally, Piper Sandler raised their price objective on shares of Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.13.

Skyward Specialty Insurance Group 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.