Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 17.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 416,582 shares of the company's stock after selling 88,554 shares during the period. Allspring Global Investments Holdings LLC owned about 1.04% of Skyward Specialty Insurance Group worth $20,433,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SKWD. CWM LLC raised its stake in Skyward Specialty Insurance Group by 3,103.1% in the third quarter. CWM LLC now owns 4,132 shares of the company's stock worth $168,000 after buying an additional 4,003 shares in the last quarter. Riverwater Partners LLC bought a new position in Skyward Specialty Insurance Group in the third quarter worth about $1,404,000. Moody Aldrich Partners LLC raised its stake in Skyward Specialty Insurance Group by 66.9% in the third quarter. Moody Aldrich Partners LLC now owns 154,867 shares of the company's stock worth $6,308,000 after buying an additional 62,080 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Skyward Specialty Insurance Group by 54.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 12,353 shares of the company's stock worth $496,000 after buying an additional 4,334 shares in the last quarter. Finally, US Bancorp DE raised its stake in Skyward Specialty Insurance Group by 17.2% in the third quarter. US Bancorp DE now owns 14,129 shares of the company's stock worth $575,000 after buying an additional 2,073 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $60.00 target price on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Keefe, Bruyette & Woods raised their target price on shares of Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Raymond James raised their target price on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a "strong-buy" rating in a research note on Tuesday, November 5th. Piper Sandler decreased their target price on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Finally, Barclays increased their price target on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of "Moderate Buy" and an average price target of $51.44.

Skyward Specialty Insurance Group Price Performance

NASDAQ:SKWD traded down $0.06 during trading hours on Thursday, hitting $49.52. 280,565 shares of the company were exchanged, compared to its average volume of 380,537. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.80 and a beta of 0.83. Skyward Specialty Insurance Group, Inc. has a 52-week low of $32.08 and a 52-week high of $55.62. The company's 50 day moving average price is $47.51 and its 200-day moving average price is $45.37.

Insiders Place Their Bets

In other news, CEO Andrew S. Robinson sold 6,010 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total value of $296,713.70. Following the sale, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Haushill sold 1,630 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $49.06, for a total transaction of $79,967.80. Following the completion of the sale, the chief financial officer now directly owns 176,971 shares in the company, valued at $8,682,197.26. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,318 shares of company stock valued at $2,098,866. Insiders own 8.01% of the company's stock.

About Skyward Specialty Insurance Group

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.