Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 14.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,425 shares of the company’s stock after selling 25,184 shares during the period. Mutual of America Capital Management LLC owned 0.37% of Skyward Specialty Insurance Group worth $7,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of SKWD. Reinhart Partners LLC. acquired a new position in Skyward Specialty Insurance Group in the first quarter valued at $49,979,000. Capital World Investors acquired a new position in Skyward Specialty Insurance Group in the fourth quarter valued at $41,182,000. Price T Rowe Associates Inc. MD raised its holdings in shares of 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. Freestone Grove Partners LP purchased a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $8,052,000. Finally, Norges Bank purchased a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $6,292,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SKWD. Barclays upped 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 report on Friday, April 11th. JMP Securities upped their target price on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods upped their target price 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. Wall Street Zen cut shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Piper Sandler reduced their target price on shares of Skyward Specialty Insurance Group from $69.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, August 1st. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.88.

Insider Activity at Skyward Specialty Insurance Group

In other news, Chairman Kirby Hill sold 8,249 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $60.87, for a total value of $502,116.63. Following the sale, the chairman directly owned 8,249 shares in the company, valued at $502,116.63. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Haushill sold 52,748 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $58.76, for a total transaction of $3,099,472.48. Following the completion of the sale, the chief financial officer owned 133,629 shares in the company, valued at $7,852,040.04. This represents a 28.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.01% of the stock is owned by corporate insiders.

Skyward Specialty Insurance Group Trading Down 0.4%

Shares of Skyward Specialty Insurance Group stock opened at $47.93 on Thursday. 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 cap of $1.94 billion, a PE ratio of 15.07 and a beta of 0.62. The company has a 50-day moving average of $55.94 and a two-hundred day moving average of $53.53.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Wednesday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. Skyward Specialty Insurance Group had a net margin of 10.53% and a return on equity of 16.84%. The company had revenue of $319.90 million during the quarter, compared to analysts’ expectations of $324.64 million. During the same period last year, the company posted $0.80 earnings per share. On average, sell-side analysts forecast 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.