Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Position Lowered by Lazard Asset Management LLC

Lazard Asset Management LLC reduced its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 89.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,622 shares of the company’s stock after selling 13,332 shares during the quarter. Lazard Asset Management LLC’s holdings in Skyward Specialty Insurance Group were worth $81,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company’s stock valued at $114,990,000 after purchasing an additional 16,572 shares during the last quarter. American Century Companies Inc. grew its stake in Skyward Specialty Insurance Group by 54.0% during the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock worth $79,744,000 after buying an additional 553,389 shares during the last quarter. Invesco Ltd. increased its position in Skyward Specialty Insurance Group by 9.1% in the fourth quarter. Invesco Ltd. now owns 1,217,329 shares of the company’s stock worth $61,524,000 after buying an additional 102,042 shares during the period. Franklin Resources Inc. lifted its stake in Skyward Specialty Insurance Group by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company’s stock valued at $58,860,000 after buying an additional 47,363 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Skyward Specialty Insurance Group by 37.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company’s stock valued at $52,995,000 after buying an additional 283,749 shares during the last quarter. 94.83% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Gena L. Ashe sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.62, for a total value of $50,620.00. Following the completion of the sale, the director now owns 734 shares in the company, valued at approximately $37,155.08. This represents a 57.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Kirby Hill sold 8,249 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $60.87, for a total transaction of $502,116.63. Following the transaction, the chairman now owns 8,249 shares in the company, valued at approximately $502,116.63. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,381 shares of company stock worth $1,122,592. Insiders own 7.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SKWD shares. Citigroup restated an “outperform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. Wolfe Research restated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Keefe, Bruyette & Woods boosted their price objective on 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. Piper Sandler increased their price objective on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Finally, JMP Securities raised their target price on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.13.

Skyward Specialty Insurance Group Stock Up 0.8%

Shares of Skyward Specialty Insurance Group stock opened at $60.97 on Monday. The business has a fifty day simple moving average of $55.19 and a 200-day simple moving average of $51.29. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 0.81 and a beta of 0.64. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $33.42 and a fifty-two week high of $63.76.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $328.53 million for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $0.75 EPS. 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.