Sei Investments Co. Trims Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Sei Investments Co. cut its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 179,328 shares of the company's stock after selling 5,987 shares during the quarter. Sei Investments Co. owned about 0.45% of Skyward Specialty Insurance Group worth $9,063,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SKWD. Quarry LP boosted its stake 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 during the period. ORG Wealth Partners LLC bought a new position in shares of Skyward Specialty Insurance Group in the fourth quarter valued at approximately $61,000. Pinnacle Financial Partners Inc bought a new position in shares of Skyward Specialty Insurance Group in the fourth quarter valued at approximately $220,000. Ashton Thomas Private Wealth LLC purchased a new position in Skyward Specialty Insurance Group during the fourth quarter valued at approximately $230,000. Finally, Kirr Marbach & Co. LLC IN bought a new stake in Skyward Specialty Insurance Group during the 4th quarter worth approximately $252,000. 94.83% of the stock is currently owned by institutional investors.

Insider Transactions at Skyward Specialty Insurance Group

In related news, insider Thomas N. Schmitt sold 546 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was 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 of the company's stock, valued at $480,025.10. This trade represents a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gena L. Ashe sold 1,000 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.62, for a total value of $50,620.00. Following the transaction, the director now owns 734 shares in the company, valued at approximately $37,155.08. This represents a 57.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,463 shares of company stock worth $777,441. Insiders own 8.01% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler cut their price target on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Barclays raised Skyward Specialty Insurance Group from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $53.00 to $63.00 in a report on Friday, March 14th. Keefe, Bruyette & Woods raised their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. JMP Securities reiterated a "market outperform" rating and issued a $60.00 target price on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. Finally, Truist Financial raised their price target on 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. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $56.25.

Skyward Specialty Insurance Group Trading Down 1.1 %

Shares of NASDAQ:SKWD traded down $0.62 on Thursday, reaching $54.02. 572,269 shares of the company traded hands, compared to its average volume of 369,897. Skyward Specialty Insurance Group, Inc. has a 52 week low of $33.27 and a 52 week high of $55.62. The business's 50-day simple moving average is $49.53 and its 200 day simple moving average is $47.94. The stock has a market capitalization of $2.18 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 0.81 and a beta of 0.67.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly 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. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The business had revenue of $304.40 million for the quarter, compared to analyst estimates of $295.56 million. Sell-side analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

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.