Principal Financial Group Inc. Sells 24,942 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Principal Financial Group Inc. decreased its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 24.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,163 shares of the company's stock after selling 24,942 shares during the quarter. Principal Financial Group Inc. owned approximately 0.20% of Skyward Specialty Insurance Group worth $4,001,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP grew its position in Skyward Specialty Insurance Group by 176.9% in the 3rd quarter. Quarry LP now owns 1,376 shares of the company's stock worth $56,000 after purchasing an additional 879 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Skyward Specialty Insurance Group in the 4th quarter worth approximately $61,000. Kirr Marbach & Co. LLC IN bought a new position in shares of Skyward Specialty Insurance Group in the fourth quarter valued at approximately $252,000. FORA Capital LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the third quarter valued at approximately $256,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Skyward Specialty Insurance Group by 19.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,727 shares of the company's stock valued at $274,000 after acquiring an additional 1,095 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

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Skyward Specialty Insurance Group Trading Down 3.3 %

Shares of SKWD stock traded down $1.66 during trading on Friday, reaching $47.93. 181,407 shares of the company's stock traded hands, compared to its average volume of 346,786. The firm's 50-day moving average is $47.54 and its 200 day moving average is $46.41. The company has a market capitalization of $1.92 billion, a P/E ratio of 14.59, a PEG ratio of 0.81 and a beta of 0.83. Skyward Specialty Insurance Group, Inc. has a 1 year low of $33.27 and a 1 year high of $55.62.

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

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 546 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $46.85, for a total value of $25,580.10. Following the sale, the insider now directly owns 10,246 shares in the company, valued at $480,025.10. This represents a 5.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sandip A. Kapadia sold 908 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $46.98, for a total transaction of $42,657.84. Following the completion of the transaction, the executive vice president now directly owns 10,371 shares of the company's stock, valued at approximately $487,229.58. The trade was a 8.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,618 shares of company stock worth $1,075,962 in the last quarter. 8.01% of the stock is owned by company insiders.

Analysts Set New Price Targets

SKWD has been the subject of a number of recent analyst reports. Barclays upped their price objective on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. JMP Securities restated a "market outperform" rating and set a $60.00 price target on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They set a "hold" rating and a $43.00 price objective for the company. Wolfe Research reiterated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Finally, Truist Financial increased 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 report on Thursday, February 27th. Four 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 company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $55.00.

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.