Loomis Sayles & Co. L P Decreases Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Loomis Sayles & Co. L P lowered its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 357,399 shares of the company's stock after selling 5,704 shares during the period. Loomis Sayles & Co. L P owned 0.89% of Skyward Specialty Insurance Group worth $18,063,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Quarry LP lifted its holdings in shares of Skyward Specialty Insurance Group by 176.9% in the third quarter. Quarry LP now owns 1,376 shares of the company's stock valued at $56,000 after purchasing an additional 879 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in Skyward Specialty Insurance Group during the fourth quarter worth about $61,000. Pinnacle Financial Partners Inc bought a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter worth approximately $220,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth approximately $230,000. Finally, Kirr Marbach & Co. LLC IN purchased a new stake in Skyward Specialty Insurance Group in the 4th quarter worth approximately $252,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SKWD shares. Truist Financial boosted their target price 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. 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. Wolfe Research reissued a "peer perform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. TD Cowen initiated coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They set a "hold" rating and a $43.00 target price for the company. Finally, JMP Securities reissued 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. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $56.25.

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Skyward Specialty Insurance Group Stock Up 0.2 %

Shares of SKWD stock traded up $0.09 during mid-day trading on Wednesday, reaching $54.08. 265,640 shares of the stock traded hands, compared to its average volume of 416,314. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 0.81 and a beta of 0.67. The stock's fifty day simple moving average is $49.07 and its two-hundred day simple moving average is $47.85. Skyward Specialty Insurance Group, Inc. has a 1-year low of $33.27 and a 1-year high of $55.62.

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

Insiders Place Their Bets

In other news, CEO Andrew S. Robinson sold 6,010 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total value of $296,713.70. Following the completion of the sale, the chief executive officer now directly owns 77,144 shares of the company's stock, valued at $3,808,599.28. This trade represents a 7.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas N. Schmitt sold 546 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $46.85, for a total value of $25,580.10. Following the transaction, the insider now directly owns 10,246 shares in the company, valued at approximately $480,025.10. This represents a 5.06 % 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 worth $1,369,342. 8.01% of the stock is currently owned by corporate insiders.

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.