Royce & Associates LP Buys 50,758 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Royce & Associates LP grew its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 76.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 116,799 shares of the company’s stock after buying an additional 50,758 shares during the period. Royce & Associates LP’s holdings in Skyward Specialty Insurance Group were worth $5,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP boosted its stake in Skyward Specialty Insurance Group by 176.9% during the third quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after buying an additional 879 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Skyward Specialty Insurance Group during the fourth quarter worth about $61,000. Pinnacle Financial Partners Inc acquired a new stake in Skyward Specialty Insurance Group during the fourth quarter valued at approximately $220,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Skyward Specialty Insurance Group in the 4th quarter worth approximately $230,000. Finally, Kirr Marbach & Co. LLC IN bought a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth approximately $252,000. Institutional investors own 94.83% of the company’s stock.

Insider Buying and Selling at Skyward Specialty Insurance Group

In related news, insider John A. Burkhart III sold 4,832 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.24, for a total value of $242,759.68. Following the completion of the sale, the insider now owns 17,655 shares in the company, valued at approximately $886,987.20. This represents a 21.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Andrew S. Robinson sold 6,010 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total value of $296,713.70. Following the transaction, the chief executive officer now owns 77,144 shares in the company, valued at approximately $3,808,599.28. This trade represents a 7.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,450 shares of company stock valued at $1,369,342. 8.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SKWD has been the topic of a number of analyst reports. Truist Financial upped their price target on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Wolfe Research reaffirmed a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Piper Sandler cut 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 report on Thursday, February 6th. Barclays raised shares of Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $53.00 to $63.00 in a research note on Friday, March 14th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.25.

Skyward Specialty Insurance Group Stock Up 0.1 %

Skyward Specialty Insurance Group stock opened at $49.43 on Thursday. The business’s 50-day simple moving average is $47.62 and its 200 day simple moving average is $47.03. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 0.81 and a beta of 0.67. 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 earnings results 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 analyst estimates of $295.56 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. As a group, sell-side analysts expect 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.