Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System raised its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,329 shares of the company’s stock after buying an additional 451 shares during the quarter. Arizona State Retirement System’s holdings in Skyward Specialty Insurance Group were worth $547,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SKWD. Sterling Capital Management LLC raised its position in shares of Skyward Specialty Insurance Group by 756.1% during the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after acquiring an additional 809 shares in the last quarter. KBC Group NV bought a new position in Skyward Specialty Insurance Group during the first quarter valued at about $81,000. ORG Wealth Partners LLC boosted its stake in Skyward Specialty Insurance Group by 86.9% during the first quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company’s stock valued at $123,000 after buying an additional 1,057 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of Skyward Specialty Insurance Group in the 1st quarter valued at $179,000. Finally, Summit Investment Advisors Inc. boosted its position in shares of Skyward Specialty Insurance Group by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after purchasing an additional 247 shares during the period. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 52,748 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer owned 133,629 shares of the company’s stock, valued at $7,852,040.04. This represents a 28.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Kirby Hill sold 8,249 shares of the company’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 transaction, the chairman directly owned 8,249 shares in the company, valued at $502,116.63. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. 7.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays boosted their price target on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, April 11th. Piper Sandler boosted their price objective on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods raised their price target on Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, May 29th. Citigroup reiterated an “outperform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. Finally, JMP Securities raised their target price on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a report on Friday, May 2nd. Three 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.75.

Skyward Specialty Insurance Group Trading Down 2.3%

Shares of SKWD stock opened at $52.85 on Tuesday. The stock’s 50-day moving average price is $58.76 and its 200-day moving average price is $53.11. Skyward Specialty Insurance Group, Inc. has a 12-month low of $34.10 and a 12-month high of $65.05. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 17.62 and a beta of 0.65.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results 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 firm 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 business earned $0.75 earnings per share. As a group, research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

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.