KLP Kapitalforvaltning AS Takes Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

KLP Kapitalforvaltning AS purchased a new position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,500 shares of the company's stock, valued at approximately $379,000.

A number of other institutional investors also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Skyward Specialty Insurance Group by 19.4% in 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 period. Verition Fund Management LLC grew its holdings in Skyward Specialty Insurance Group by 101.1% during the third quarter. Verition Fund Management LLC now owns 42,526 shares of the company's stock worth $1,732,000 after acquiring an additional 21,381 shares during the period. IHT Wealth Management LLC raised its position in 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 acquiring an additional 464 shares in the last quarter. Quarry LP lifted its holdings in Skyward Specialty Insurance Group by 176.9% in the 3rd quarter. Quarry LP now owns 1,376 shares of the company's stock valued at $56,000 after acquiring an additional 879 shares during the last quarter. Finally, Systematic Financial Management LP bought a new position in shares of Skyward Specialty Insurance Group during the 3rd quarter valued at about $431,000. 94.83% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several analysts recently commented on SKWD shares. TD Cowen assumed 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 target price for the company. Wolfe Research reissued a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Barclays raised Skyward Specialty Insurance Group from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $53.00 to $63.00 in a research report on Friday, March 14th. Keefe, Bruyette & Woods dropped their price target on Skyward Specialty Insurance Group from $62.00 to $57.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $60.00 price objective on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of "Moderate Buy" and an average price target of $55.63.

Skyward Specialty Insurance Group Trading Up 5.1 %

SKWD stock traded up $2.53 during midday trading on Wednesday, reaching $51.75. The company had a trading volume of 672,904 shares, compared to its average volume of 377,782. The company has a 50 day moving average of $50.33 and a two-hundred day moving average of $48.34. Skyward Specialty Insurance Group, Inc. has a 1 year low of $33.27 and a 1 year high of $55.62. The company has a market capitalization of $2.09 billion, a P/E ratio of 15.78, a PEG ratio of 0.81 and a beta of 0.63.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $304.40 million during the quarter, compared to analysts' expectations of $295.56 million. On average, sell-side analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Insider Activity at Skyward Specialty Insurance Group

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

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.