Franklin Resources Inc. Raises Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Franklin Resources Inc. boosted its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 16.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,117,257 shares of the company's stock after acquiring an additional 158,679 shares during the period. Franklin Resources Inc. owned 2.79% of Skyward Specialty Insurance Group worth $45,506,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Jennison Associates LLC raised its holdings in shares of Skyward Specialty Insurance Group by 1.0% during the 3rd quarter. Jennison Associates LLC now owns 1,296,001 shares of the company's stock worth $52,786,000 after acquiring an additional 12,484 shares in the last quarter. Driehaus Capital Management LLC raised its stake in Skyward Specialty Insurance Group by 2.8% during the second quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company's stock valued at $45,528,000 after purchasing an additional 34,286 shares in the last quarter. American Century Companies Inc. raised its stake in Skyward Specialty Insurance Group by 9.2% during the second quarter. American Century Companies Inc. now owns 919,548 shares of the company's stock valued at $33,269,000 after purchasing an additional 77,354 shares in the last quarter. Emerald Advisers LLC lifted its position in Skyward Specialty Insurance Group by 3.4% during the third quarter. Emerald Advisers LLC now owns 874,581 shares of the company's stock valued at $35,622,000 after purchasing an additional 28,618 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Skyward Specialty Insurance Group by 10.8% in the 3rd quarter. State Street Corp now owns 844,233 shares of the company's stock worth $34,386,000 after buying an additional 82,328 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Jefferies Financial Group lifted their price target on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Barclays boosted 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 report on Wednesday, October 30th. Raymond James raised their price target on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, November 5th. Finally, JMP Securities boosted their price objective on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a "market outperform" rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of "Moderate Buy" and an average price target of $46.89.

Insider Transactions at Skyward Specialty Insurance Group

In related news, Director James Charles Hays sold 25,000 shares of the company'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 completion of the transaction, the director now owns 747,261 shares in the company, valued at $40,352,094. This represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.01% of the company's stock.

Skyward Specialty Insurance Group Stock Down 2.2 %

Shares of SKWD opened at $51.51 on Wednesday. Skyward Specialty Insurance Group, Inc. has a twelve month low of $29.40 and a twelve month high of $55.62. The company has a 50 day moving average of $49.07 and a two-hundred day moving average of $42.09. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 0.95 and a beta of 0.76.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, topping the consensus estimate 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 business had revenue of $300.89 million during the quarter, compared to the consensus estimate of $292.43 million. During the same period in the previous year, the firm posted $0.65 earnings per share. On average, sell-side analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current 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.