American Century Companies Inc. Grows Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

American Century Companies Inc. grew its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 54.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,577,846 shares of the company’s stock after acquiring an additional 553,389 shares during the period. American Century Companies Inc. owned about 3.93% of Skyward Specialty Insurance Group worth $79,744,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Franklin Resources Inc. raised its stake in Skyward Specialty Insurance Group by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock valued at $45,506,000 after acquiring an additional 158,679 shares during the period. State Street Corp raised its position in shares of Skyward Specialty Insurance Group by 10.8% in the third quarter. State Street Corp now owns 844,233 shares of the company’s stock valued at $34,386,000 after purchasing an additional 82,328 shares during the period. Two Sigma Advisers LP lifted its stake 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 valued at $19,966,000 after buying an additional 65,200 shares in the last quarter. WCM Investment Management LLC bought a new position in Skyward Specialty Insurance Group in the 4th quarter worth approximately $18,084,000. Finally, The Manufacturers Life Insurance Company grew its stake in Skyward Specialty Insurance Group by 0.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 336,882 shares of the company’s stock valued at $13,721,000 after buying an additional 1,032 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group 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 approximately $3,808,599.28. The trade was a 7.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John A. Burkhart III sold 4,832 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the sale, the insider now directly owns 17,655 shares of the company’s stock, valued at approximately $886,987.20. This trade represents a 21.49 % 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 corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on SKWD shares. Piper Sandler dropped their target price on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Truist Financial raised their target price on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Keefe, Bruyette & Woods upped their price target on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. TD Cowen began coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a “hold” rating and a $43.00 price objective for the company. Finally, JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.25.

Skyward Specialty Insurance Group Stock Up 5.7 %

SKWD opened at $52.58 on Tuesday. The business’s fifty day simple moving average is $48.04 and its 200 day simple moving average is $47.28. Skyward Specialty Insurance Group, Inc. has a 52 week low of $33.27 and a 52 week high of $55.62. The stock has a market cap of $2.11 billion, a PE ratio of 16.03, a P/E/G ratio of 0.81 and a beta of 0.67.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $304.40 million for the quarter, compared to analyst estimates 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, equities analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share 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.