Principal Financial Group Inc. Raises Stock Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Principal Financial Group Inc. boosted its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 17.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,798 shares of the company’s stock after acquiring an additional 13,635 shares during the quarter. Principal Financial Group Inc. owned 0.23% of Skyward Specialty Insurance Group worth $4,911,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SKWD. WCM Investment Management LLC increased its stake in shares of Skyward Specialty Insurance Group by 23.1% in the first quarter. WCM Investment Management LLC now owns 445,012 shares of the company’s stock worth $23,417,000 after purchasing an additional 83,623 shares in the last quarter. New York State Teachers Retirement System bought a new stake in shares of Skyward Specialty Insurance Group in the 1st quarter worth about $179,000. KBC Group NV bought a new stake in Skyward Specialty Insurance Group during the first quarter worth approximately $81,000. Lisanti Capital Growth LLC lifted its position in Skyward Specialty Insurance Group by 158.8% in the first quarter. Lisanti Capital Growth LLC now owns 86,765 shares of the company’s stock worth $4,592,000 after buying an additional 53,235 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in shares of Skyward Specialty Insurance Group by 11.4% in the 1st quarter. Diversified Trust Co now owns 18,379 shares of the company’s stock worth $973,000 after acquiring an additional 1,879 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ SKWD opened at $54.11 on Friday. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 18.04 and a beta of 0.65. The stock’s 50-day simple moving average is $58.88 and its 200-day simple moving average is $53.04. Skyward Specialty Insurance Group, Inc. has a 1 year low of $34.10 and a 1 year high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $328.53 million during the quarter, compared to analyst estimates of $310.94 million. Skyward Specialty Insurance Group had a return on equity of 16.80% and a net margin of 10.23%. During the same quarter in the previous year, the firm posted $0.75 EPS. As a group, research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Truist Financial upped their price objective on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 5th. JMP Securities upped 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. Jefferies Financial Group lowered shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and cut their target price for the company from $62.00 to $59.00 in a report on Friday, April 11th. Keefe, Bruyette & Woods increased their price objective on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 29th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and an average target price of $61.75.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, CFO Mark W. Haushill sold 52,748 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $58.76, for a total value of $3,099,472.48. Following the transaction, the chief financial officer directly owned 133,629 shares of the company’s stock, valued at $7,852,040.04. This trade represents a 28.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Kirby Hill sold 8,249 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $60.87, for a total value of $502,116.63. Following the completion of the transaction, the chairman directly owned 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. 8.01% of the stock is currently owned by corporate insiders.

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.