Principal Financial Group Inc. Has $4.24 Million Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Principal Financial Group Inc. raised its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 49.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 104,105 shares of the company's stock after buying an additional 34,612 shares during the period. Principal Financial Group Inc. owned about 0.26% of Skyward Specialty Insurance Group worth $4,240,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. increased its position in Skyward Specialty Insurance Group by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company's stock worth $45,506,000 after purchasing an additional 158,679 shares during the period. Barclays PLC boosted its stake in shares of Skyward Specialty Insurance Group by 277.7% in the 3rd quarter. Barclays PLC now owns 64,032 shares of the company's stock valued at $2,608,000 after purchasing an additional 47,081 shares during the last quarter. Orion Portfolio Solutions LLC acquired a new stake in shares of Skyward Specialty Insurance Group during the 3rd quarter worth approximately $297,000. XTX Topco Ltd bought a new stake in shares of Skyward Specialty Insurance Group during the third quarter worth approximately $394,000. Finally, Two Sigma Advisers LP lifted its holdings in Skyward Specialty Insurance Group by 15.3% in the third quarter. Two Sigma Advisers LP now owns 490,200 shares of the company's stock valued at $19,966,000 after buying an additional 65,200 shares during the period. Institutional investors own 94.83% of the company's stock.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, Director James Charles Hays sold 25,000 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the sale, the director now directly owns 747,261 shares of the company's stock, valued at $40,352,094. The trade was a 3.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 8.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on SKWD. Jefferies Financial Group raised their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. JMP Securities raised their price target on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a "market outperform" rating in a research report on Wednesday, October 30th. Raymond James upped their price objective on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a "strong-buy" rating in a report on Tuesday, November 5th. Finally, Barclays increased their target price on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $46.89.

Skyward Specialty Insurance Group Price Performance

SKWD traded down $2.58 during trading on Friday, reaching $46.47. The company had a trading volume of 475,743 shares, compared to its average volume of 331,771. The company has a market cap of $1.86 billion, a P/E ratio of 14.17, a PEG ratio of 0.95 and a beta of 0.89. Skyward Specialty Insurance Group, Inc. has a 12 month low of $29.40 and a 12 month high of $55.62. The business's fifty day moving average price is $50.25 and its 200 day moving average price is $43.30.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.06. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The firm had revenue of $300.89 million during the quarter, compared to analyst estimates of $292.43 million. During the same period in the prior year, the business earned $0.65 EPS. As a group, sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current fiscal year.

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.