Sheets Smith Investment Management Invests $813,000 in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Sheets Smith Investment Management purchased a new position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,090 shares of the company’s stock, valued at approximately $813,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. IHT Wealth Management LLC lifted its stake in shares of Skyward Specialty Insurance Group by 4.6% in the third quarter. IHT Wealth Management LLC now owns 10,501 shares of the company’s stock worth $428,000 after buying an additional 464 shares in the last quarter. Quarry LP increased its position 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 purchasing an additional 879 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Skyward Specialty Insurance Group by 0.3% during the third quarter. The Manufacturers Life Insurance Company now owns 336,882 shares of the company’s stock worth $13,721,000 after purchasing an additional 1,032 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Skyward Specialty Insurance Group by 19.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,727 shares of the company’s stock worth $274,000 after purchasing an additional 1,095 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in Skyward Specialty Insurance Group during the fourth quarter worth about $61,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Skyward Specialty Insurance Group

In related news, insider Thomas N. Schmitt sold 6,300 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $51.92, for a total value of $327,096.00. Following the completion of the transaction, the insider now owns 3,946 shares in the company, valued at $204,876.32. The trade was a 61.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew S. Robinson sold 6,010 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total transaction of $296,713.70. Following the completion of the transaction, the chief executive officer now owns 77,144 shares of the company’s stock, valued at $3,808,599.28. This represents a 7.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,450 shares of company stock worth $1,369,342. Corporate insiders own 8.01% of the company’s stock.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD stock opened at $49.75 on Monday. The stock has a market capitalization of $2.00 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 0.81 and a beta of 0.67. The company has a 50 day moving average price of $47.85 and a 200 day moving average price of $47.21. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $33.27 and a fifty-two week 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 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 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%. On average, research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays upgraded shares of Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $53.00 to $63.00 in a research report on Friday, March 14th. Wolfe Research restated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. TD Cowen assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They set a “hold” rating and a $43.00 price objective for the company. 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. Finally, Keefe, Bruyette & Woods lifted their price target on shares of 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. Three equities research 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 stock. According to MarketBeat, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $56.25.

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.