Northern Trust Corp Has $24.50 Million Stake in Skyward Specialty Insurance Group, Inc. $SKWD

Northern Trust Corp lifted its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 18.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 462,908 shares of the company’s stock after purchasing an additional 72,202 shares during the quarter. Northern Trust Corp owned 1.15% of Skyward Specialty Insurance Group worth $24,497,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. LRI Investments LLC acquired a new position in shares of Skyward Specialty Insurance Group in the first quarter valued at $67,000. KBC Group NV acquired a new position in Skyward Specialty Insurance Group during the first quarter worth $81,000. ORG Wealth Partners LLC raised 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 worth $123,000 after acquiring an additional 1,057 shares in the last quarter. New York State Teachers Retirement System acquired a new position in Skyward Specialty Insurance Group during the first quarter worth $179,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Skyward Specialty Insurance Group during the first quarter worth $201,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Skyward Specialty Insurance Group

In related news, CFO Mark W. Haushill sold 52,748 shares of the firm’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $58.76, for a total value of $3,099,472.48. Following the transaction, the chief financial officer owned 133,629 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 7.86% of the stock is currently owned by corporate insiders.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ:SKWD opened at $48.30 on Monday. Skyward Specialty Insurance Group, Inc. has a twelve month low of $37.79 and a twelve month high of $65.05. The firm has a market cap of $1.96 billion, a PE ratio of 15.19 and a beta of 0.62. The business has a fifty day moving average of $51.97 and a 200-day moving average of $53.99.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Wednesday, July 30th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. Skyward Specialty Insurance Group had a return on equity of 16.40% and a net margin of 10.53%.The company had revenue of $319.90 million during the quarter, compared to analyst estimates of $324.64 million. During the same period last year, the company posted $0.80 earnings per share. On average, analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SKWD. Piper Sandler dropped their price objective on Skyward Specialty Insurance Group from $69.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, August 1st. Wall Street Zen lowered Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Truist Financial increased their price objective on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, Keefe, Bruyette & Woods increased their price objective on Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.88.

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.