Thompson Siegel & Walmsley LLC Decreases Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Thompson Siegel & Walmsley LLC lowered its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 26.3% in the fourth quarter, Holdings Channel reports. The fund owned 11,857 shares of the company’s stock after selling 4,230 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Skyward Specialty Insurance Group were worth $599,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Jennison Associates LLC lifted its position in shares of Skyward Specialty Insurance Group by 1.0% during the 3rd quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock worth $52,786,000 after buying an additional 12,484 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Skyward Specialty Insurance Group by 16.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock worth $45,506,000 after buying an additional 158,679 shares during the last quarter. State Street Corp lifted its position in shares of Skyward Specialty Insurance Group by 10.8% during the 3rd quarter. State Street Corp now owns 844,233 shares of the company’s stock worth $34,386,000 after buying an additional 82,328 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Skyward Specialty Insurance Group by 12.9% during the 3rd quarter. Victory Capital Management Inc. now owns 743,073 shares of the company’s stock worth $30,265,000 after buying an additional 84,623 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Skyward Specialty Insurance Group by 15.3% during the 3rd quarter. Two Sigma Advisers LP now owns 490,200 shares of the company’s stock worth $19,966,000 after buying an additional 65,200 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SKWD. JMP Securities restated a “market outperform” rating and set a $60.00 price objective on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. Piper Sandler reduced their price target on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Barclays upgraded shares of Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $53.00 to $63.00 in a research report on Friday. Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Finally, TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a “hold” rating and a $43.00 price target for the company. Three investment 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.25.

Insider Transactions at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, insider John A. Burkhart III sold 4,832 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the transaction, the insider now directly owns 17,655 shares in the company, valued at approximately $886,987.20. This represents a 21.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas N. Schmitt sold 6,300 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $51.92, for a total transaction of $327,096.00. Following the completion of the transaction, the insider now owns 3,946 shares in the company, valued at approximately $204,876.32. This trade represents a 61.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,450 shares of company stock valued at $1,369,342 in the last ninety days. 8.01% of the stock is currently owned by company insiders.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD opened at $49.78 on Friday. The stock has a market capitalization of $2.00 billion, a P/E ratio of 15.18, a P/E/G ratio of 0.81 and a beta of 0.66. The company’s fifty day moving average is $47.38 and its two-hundred day moving average is $46.79. Skyward Specialty Insurance Group, Inc. has a 1 year low of $33.27 and a 1 year high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $295.56 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. Sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current 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.