124,500 Shares in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Purchased by Norges Bank

Norges Bank purchased a new position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 124,500 shares of the company's stock, valued at approximately $6,292,000. Norges Bank owned about 0.31% of Skyward Specialty Insurance Group as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. ORG Wealth Partners LLC acquired a new position in Skyward Specialty Insurance Group in the fourth quarter valued at about $61,000. Pinnacle Financial Partners Inc bought a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter valued at about $220,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter valued at approximately $230,000. Kirr Marbach & Co. LLC IN bought a new position in Skyward Specialty Insurance Group during the 4th quarter worth approximately $252,000. Finally, Orion Portfolio Solutions LLC acquired a new position in Skyward Specialty Insurance Group during the third quarter valued at approximately $297,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Gena L. Ashe sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total transaction of $50,620.00. Following the sale, the director now owns 734 shares in the company, valued at $37,155.08. This represents a 57.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John A. Burkhart III sold 4,832 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the completion of the sale, the insider now directly owns 17,655 shares of the company's stock, valued at approximately $886,987.20. The trade was a 21.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,132 shares of company stock worth $620,476. 8.01% of the stock is owned by insiders.

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Analyst Ratings Changes

Several equities research analysts have weighed in on SKWD shares. JMP Securities reiterated a "market outperform" rating and issued a $60.00 target price on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Piper Sandler lowered their price objective on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Wolfe Research reiterated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Jefferies Financial Group cut Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and decreased their target price for the company from $62.00 to $59.00 in a research note on Friday. Finally, TD Cowen assumed coverage on Skyward Specialty Insurance Group in a research report on Monday, January 13th. They set a "hold" rating and a $43.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.00.

Skyward Specialty Insurance Group Trading Up 0.4 %

Shares of SKWD stock traded up $0.24 on Tuesday, hitting $54.17. 22,474 shares of the stock were exchanged, compared to its average volume of 378,294. The firm has a market capitalization of $2.18 billion, a P/E ratio of 16.51, 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 $55.62. The business has a 50-day moving average of $50.68 and a 200 day moving average of $48.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share 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 firm had revenue of $304.40 million during the quarter, compared to the consensus estimate of $295.56 million. As a group, research analysts forecast 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.