Allspring Global Investments Holdings LLC Sells 10,638 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Allspring Global Investments Holdings LLC lessened its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 505,136 shares of the company's stock after selling 10,638 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.26% of Skyward Specialty Insurance Group worth $20,574,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SKWD. Principal Financial Group Inc. bought a new position in shares of Skyward Specialty Insurance Group in the first quarter worth $1,672,000. Swiss National Bank lifted its holdings in Skyward Specialty Insurance Group by 111.5% in the first quarter. Swiss National Bank now owns 55,000 shares of the company's stock worth $2,058,000 after purchasing an additional 29,000 shares during the period. Marshall Wace LLP bought a new position in Skyward Specialty Insurance Group in the 2nd quarter valued at about $10,152,000. Capstone Investment Advisors LLC increased its stake in Skyward Specialty Insurance Group by 68.3% during the 1st quarter. Capstone Investment Advisors LLC now owns 107,796 shares of the company's stock valued at $4,033,000 after buying an additional 43,739 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Skyward Specialty Insurance Group by 9.2% during the 2nd quarter. American Century Companies Inc. now owns 919,548 shares of the company's stock worth $33,269,000 after buying an additional 77,354 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

Insider Activity at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of the firm's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $36.87, for a total transaction of $60,946.11. Following the completion of the sale, the director now directly owns 4,001 shares in the company, valued at approximately $147,516.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.01% of the stock is owned by insiders.

Skyward Specialty Insurance Group Stock Down 5.2 %

Shares of Skyward Specialty Insurance Group stock traded down $2.49 during trading on Friday, hitting $45.51. The stock had a trading volume of 494,363 shares, compared to its average volume of 358,697. The company has a market capitalization of $1.82 billion, a PE ratio of 16.22, a P/E/G ratio of 0.86 and a beta of 0.60. Skyward Specialty Insurance Group, Inc. has a 1 year low of $27.56 and a 1 year high of $48.40. The stock has a 50 day simple moving average of $41.69 and a 200 day simple moving average of $38.36.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results on Monday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.15. The company had revenue of $279.94 million for the quarter, compared to the consensus estimate of $282.70 million. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. During the same period in the previous year, the business earned $0.42 EPS. As a group, equities analysts expect that Skyward Specialty Insurance Group, Inc. will post 2.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on SKWD shares. Piper Sandler increased their price objective on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. William Blair began coverage on Skyward Specialty Insurance Group in a research report on Monday, August 19th. They set an "outperform" rating on the stock. Keefe, Bruyette & Woods boosted their price objective on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, August 12th. Truist Financial reaffirmed a "buy" rating and set a $49.00 target price (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research note on Wednesday, August 7th. Finally, Oppenheimer began coverage on shares of Skyward Specialty Insurance Group in a research report on Friday, July 12th. They issued a "market perform" rating on the stock. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.78.

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.