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

American Century Companies Inc. increased its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 54.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,577,846 shares of the company's stock after purchasing an additional 553,389 shares during the period. American Century Companies Inc. owned 3.93% of Skyward Specialty Insurance Group worth $79,744,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SKWD. Barclays PLC boosted its stake in shares of Skyward Specialty Insurance Group by 277.7% in the third quarter. Barclays PLC now owns 64,032 shares of the company's stock worth $2,608,000 after acquiring an additional 47,081 shares during the period. Principal Financial Group Inc. grew its holdings in Skyward Specialty Insurance Group by 49.8% during the 3rd quarter. Principal Financial Group Inc. now owns 104,105 shares of the company's stock valued at $4,240,000 after buying an additional 34,612 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Skyward Specialty Insurance Group by 32.9% during the third quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company's stock valued at $3,515,000 after buying an additional 21,346 shares during the last quarter. State Street Corp lifted its holdings 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 worth $34,386,000 after buying an additional 82,328 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Skyward Specialty Insurance Group during the 3rd quarter valued at about $394,000. Institutional investors own 94.83% of the company's stock.

Remove Ads

Insider Activity

In other Skyward Specialty Insurance Group news, EVP Sandip A. Kapadia sold 4,347 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $49.51, for a total value of $215,219.97. Following the completion of the transaction, the executive vice president now directly owns 12,508 shares in the company, valued at approximately $619,271.08. The trade was a 25.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas N. Schmitt sold 637 shares of the firm's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $47.81, for a total transaction of $30,454.97. Following the completion of the sale, the insider now owns 10,792 shares in the company, valued at $515,965.52. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,450 shares of company stock worth $1,369,342. 8.01% of the stock is currently owned by company insiders.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD stock traded down $0.54 during mid-day trading on Friday, hitting $52.62. The stock had a trading volume of 410,706 shares, compared to its average volume of 365,279. Skyward Specialty Insurance Group, Inc. has a 12-month low of $33.27 and a 12-month high of $55.62. The firm's 50-day moving average is $48.56 and its two-hundred day moving average is $47.46. The firm has a market capitalization of $2.11 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 0.81 and a beta of 0.67.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate 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%. Analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SKWD shares. JMP Securities reaffirmed a "market outperform" rating and set a $60.00 price target on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Barclays raised Skyward Specialty Insurance Group from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $53.00 to $63.00 in a research note on Friday, March 14th. Truist Financial increased their price target 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 price objective on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Finally, Piper Sandler dropped 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 research note on Thursday, February 6th. Three 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 company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.25.

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.