Invesco Ltd. Grows Stock Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Invesco Ltd. grew its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,217,329 shares of the company's stock after purchasing an additional 102,042 shares during the period. Invesco Ltd. owned approximately 3.04% of Skyward Specialty Insurance Group worth $61,524,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. State Street Corp raised 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 valued at $34,386,000 after buying an additional 82,328 shares in the last quarter. XTX Topco Ltd purchased a new stake in Skyward Specialty Insurance Group during the third quarter valued at approximately $394,000. Orion Portfolio Solutions LLC bought a new stake in shares of Skyward Specialty Insurance Group in the 3rd quarter valued at approximately $297,000. Barclays PLC boosted its holdings in shares of Skyward Specialty Insurance Group by 277.7% in the 3rd quarter. Barclays PLC now owns 64,032 shares of the company's stock worth $2,608,000 after purchasing an additional 47,081 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Skyward Specialty Insurance Group by 16.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company's stock valued at $45,506,000 after purchasing an additional 158,679 shares during the last quarter. 94.83% of the stock is owned by institutional investors.

Skyward Specialty Insurance Group Stock Up 1.3 %

SKWD stock traded up $0.69 during trading on Friday, hitting $54.79. 217,862 shares of the company's stock traded hands, compared to its average volume of 381,129. The firm has a market capitalization of $2.21 billion, a P/E ratio of 16.70, a PEG ratio of 0.81 and a beta of 0.63. Skyward Specialty Insurance Group, Inc. has a 1 year low of $33.27 and a 1 year high of $55.62. The business has a fifty day simple moving average of $51.12 and a two-hundred day simple moving average of $48.91.

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, beating 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 company had revenue of $304.40 million for the quarter, compared to analyst estimates of $295.56 million. On average, equities research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 6,300 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $51.92, for a total transaction of $327,096.00. Following the transaction, the insider now owns 3,946 shares in the company, valued at approximately $204,876.32. This represents a 61.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John A. Burkhart III sold 4,832 shares of Skyward Specialty Insurance Group stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.24, for a total transaction of $242,759.68. Following the sale, the insider now owns 17,655 shares of the company's stock, valued at $886,987.20. The trade was a 21.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,132 shares of company stock valued at $620,476. 7.86% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on SKWD. Keefe, Bruyette & Woods dropped their price objective on shares of Skyward Specialty Insurance Group from $62.00 to $57.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Barclays lifted their price target on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a research note on Friday, April 11th. Wolfe Research reissued a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Piper Sandler cut their target price on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Four equities 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 stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.00.

About Skyward Specialty Insurance Group

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.