Raymond James Financial Inc. Acquires Shares of 63,138 Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Raymond James Financial Inc. acquired a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 63,138 shares of the company's stock, valued at approximately $3,191,000. Raymond James Financial Inc. owned 0.16% of Skyward Specialty Insurance Group at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Franklin Resources Inc. increased its position in shares of Skyward Specialty Insurance Group by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company's stock valued at $45,506,000 after acquiring an additional 158,679 shares during the last quarter. State Street Corp boosted its position in shares of Skyward Specialty Insurance Group by 10.8% during the 3rd quarter. State Street Corp now owns 844,233 shares of the company's stock worth $34,386,000 after purchasing an additional 82,328 shares during the period. Two Sigma Advisers LP increased its holdings in Skyward Specialty Insurance Group by 15.3% in the 3rd quarter. Two Sigma Advisers LP now owns 490,200 shares of the company's stock valued at $19,966,000 after purchasing an additional 65,200 shares during the last quarter. WCM Investment Management LLC purchased a new stake in Skyward Specialty Insurance Group in the fourth quarter valued at approximately $18,084,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Skyward Specialty Insurance Group by 0.3% during the third quarter. The Manufacturers Life Insurance Company now owns 336,882 shares of the company's stock worth $13,721,000 after purchasing an additional 1,032 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

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Skyward Specialty Insurance Group Stock Up 0.6 %

NASDAQ SKWD traded up $0.30 on Monday, hitting $52.92. 604,321 shares of the stock were exchanged, compared to its average volume of 366,232. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $33.27 and a fifty-two week high of $55.62. The company has a 50-day moving average price of $48.88 and a 200-day moving average price of $47.74. The company has a market cap of $2.13 billion, a PE ratio of 16.13, a PEG ratio of 0.81 and a beta of 0.67.

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, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $304.40 million during the quarter, compared to analysts' expectations of $295.56 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. As a group, equities research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Insider Transactions at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 637 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $47.81, for a total transaction of $30,454.97. Following the sale, the insider now owns 10,792 shares of the company's stock, valued at approximately $515,965.52. This trade represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew S. Robinson sold 6,010 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total transaction of $296,713.70. Following the completion of the transaction, the chief executive officer now owns 77,144 shares of the company's stock, valued at approximately $3,808,599.28. The trade was a 7.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,450 shares of company stock valued at $1,369,342. 8.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SKWD has been the subject of a number of research reports. JMP Securities reaffirmed a "market outperform" rating and issued a $60.00 price objective on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Piper Sandler dropped their target price on 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 research note on Friday, February 28th. Truist Financial raised their price objective on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Barclays raised shares of Skyward Specialty Insurance Group from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $53.00 to $63.00 in a research note on Friday, March 14th. Three 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 company's stock. According to MarketBeat, Skyward Specialty Insurance Group presently has an average rating of "Moderate Buy" and a consensus target price of $56.25.

Skyward Specialty Insurance Group 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.