Teacher Retirement System of Texas Acquires 115,674 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Teacher Retirement System of Texas increased its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 432.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 142,421 shares of the company’s stock after acquiring an additional 115,674 shares during the quarter. Teacher Retirement System of Texas’ holdings in Skyward Specialty Insurance Group were worth $7,198,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP increased its holdings in Skyward Specialty Insurance Group by 176.9% in the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after acquiring an additional 879 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in Skyward Specialty Insurance Group in the 4th quarter worth about $61,000. Pinnacle Financial Partners Inc purchased a new stake in Skyward Specialty Insurance Group in the 4th quarter worth about $220,000. Ashton Thomas Private Wealth LLC purchased a new stake in Skyward Specialty Insurance Group in the 4th quarter worth about $230,000. Finally, Kirr Marbach & Co. LLC IN purchased a new stake in Skyward Specialty Insurance Group in the 4th quarter worth about $252,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analyst Ratings Changes

SKWD has been the subject of several recent research reports. JMP Securities reissued a “market outperform” rating and issued a $60.00 price objective on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Truist Financial lifted their target price on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Keefe, Bruyette & Woods lifted their target price on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Wolfe Research reaffirmed a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Finally, TD Cowen began coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They set a “hold” rating and a $43.00 target price for the company. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.25.

Insider Activity

In related news, CEO Andrew S. Robinson sold 6,010 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total value of $296,713.70. Following the completion of the sale, the chief executive officer now owns 77,144 shares in the company, valued at $3,808,599.28. The trade was a 7.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas N. Schmitt sold 637 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $47.81, for a total value of $30,454.97. Following the completion of the sale, the insider now owns 10,792 shares of the company’s stock, valued at $515,965.52. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,450 shares of company stock worth $1,369,342. 8.01% of the stock is currently owned by insiders.

Skyward Specialty Insurance Group Trading Down 0.2 %

Shares of SKWD opened at $49.75 on Friday. The company has a market cap of $2.00 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.81 and a beta of 0.67. The stock has a 50-day moving average price of $47.85 and a 200-day moving average price of $47.16. Skyward Specialty Insurance Group, Inc. has a 12-month low of $33.27 and a 12-month high of $55.62.

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

Skyward Specialty Insurance Group 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.