Capital World Investors Buys New Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Capital World Investors purchased a new position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 814,834 shares of the company's stock, valued at approximately $41,182,000. Capital World Investors owned 2.03% of Skyward Specialty Insurance Group as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SKWD. Dimensional Fund Advisors LP increased its holdings in shares of Skyward Specialty Insurance Group by 29.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 528,697 shares of the company's stock worth $26,719,000 after buying an additional 121,636 shares during the last quarter. First Trust Advisors LP grew its position in Skyward Specialty Insurance Group by 13.5% during the fourth quarter. First Trust Advisors LP now owns 122,138 shares of the company's stock valued at $6,173,000 after acquiring an additional 14,543 shares during the period. Mariner LLC acquired a new stake in Skyward Specialty Insurance Group during the fourth quarter worth about $295,000. Barclays PLC raised its holdings in shares of Skyward Specialty Insurance Group by 5.1% in the 4th quarter. Barclays PLC now owns 67,296 shares of the company's stock worth $3,401,000 after purchasing an additional 3,264 shares during the period. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Skyward Specialty Insurance Group by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company's stock valued at $196,000 after purchasing an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, Director Gena L. Ashe sold 1,000 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total value of $50,620.00. Following the sale, the director now directly owns 734 shares in the company, valued at approximately $37,155.08. This trade represents a 57.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas N. Schmitt sold 6,300 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $51.92, for a total transaction of $327,096.00. Following the transaction, the insider now directly owns 3,946 shares of the company's stock, valued at approximately $204,876.32. This trade represents a 61.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,132 shares of company stock worth $620,476 over the last ninety days. 8.01% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SKWD. Barclays increased their target price on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, April 11th. Truist Financial raised their target price on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Keefe, Bruyette & Woods reduced their target price on shares of Skyward Specialty Insurance Group from $62.00 to $57.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Jefferies Financial Group downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and lowered their price target for the company from $62.00 to $59.00 in a report on Friday, April 11th. Finally, TD Cowen began coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a "hold" rating and a $43.00 price target for the company. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $57.00.

Skyward Specialty Insurance Group Stock Performance

Shares of Skyward Specialty Insurance Group stock traded down $2.21 during trading on Friday, reaching $52.06. The company had a trading volume of 471,107 shares, compared to its average volume of 382,737. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 0.81 and a beta of 0.63. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $33.27 and a fifty-two week high of $56.98. The firm's fifty day moving average is $51.47 and its 200-day moving average is $49.23.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The company had revenue of $304.40 million for the quarter, compared to the consensus estimate of $295.56 million. On average, research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

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.