Verition Fund Management LLC Acquires 21,381 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Verition Fund Management LLC increased its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 101.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,526 shares of the company's stock after acquiring an additional 21,381 shares during the period. Verition Fund Management LLC owned about 0.11% of Skyward Specialty Insurance Group worth $1,732,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SKWD. Arcadia Investment Management Corp MI acquired a new position in Skyward Specialty Insurance Group during the third quarter worth about $41,000. Amalgamated Bank increased its position in Skyward Specialty Insurance Group by 27.7% during the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company's stock worth $46,000 after purchasing an additional 279 shares in the last quarter. CWM LLC lifted its stake in Skyward Specialty Insurance Group by 3,103.1% in the 3rd quarter. CWM LLC now owns 4,132 shares of the company's stock valued at $168,000 after purchasing an additional 4,003 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Skyward Specialty Insurance Group in the second quarter valued at approximately $160,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Skyward Specialty Insurance Group by 67.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company's stock worth $204,000 after buying an additional 2,270 shares during the last quarter. 94.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director James Charles Hays sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the director now owns 747,261 shares in the company, valued at $40,352,094. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 8.01% of the company's stock.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ:SKWD traded down $0.80 during midday trading on Friday, reaching $53.66. The company's stock had a trading volume of 216,155 shares, compared to its average volume of 253,917. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $29.40 and a fifty-two week high of $55.62. The firm has a 50 day moving average price of $47.74 and a two-hundred day moving average price of $41.29. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.00 and a beta of 0.76.

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

Analyst Ratings Changes

A number of research analysts have recently commented on SKWD shares. William Blair initiated coverage on Skyward Specialty Insurance Group in a research note on Monday, August 19th. They issued an "outperform" rating for the company. Jefferies Financial Group lifted their price target on 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. 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 research note on Tuesday, November 5th. JMP Securities boosted their target price on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a "market outperform" rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $46.89.

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.