State Street Corp Acquires 82,328 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

State Street Corp increased its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 10.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 844,233 shares of the company's stock after buying an additional 82,328 shares during the quarter. State Street Corp owned 2.11% of Skyward Specialty Insurance Group worth $34,386,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Amalgamated Bank increased its holdings in Skyward Specialty Insurance Group by 27.7% in the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company's stock worth $46,000 after acquiring an additional 279 shares during the last quarter. Chartwell Investment Partners LLC boosted its position in Skyward Specialty Insurance Group by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 38,037 shares of the company's stock worth $1,549,000 after purchasing an additional 306 shares during the period. IHT Wealth Management LLC raised its position in shares of Skyward Specialty Insurance Group by 4.6% in the third quarter. IHT Wealth Management LLC now owns 10,501 shares of the company's stock valued at $428,000 after purchasing an additional 464 shares during the period. Quarry LP lifted its stake in shares of Skyward Specialty Insurance Group by 176.9% during the 3rd quarter. Quarry LP now owns 1,376 shares of the company's stock valued at $56,000 after buying an additional 879 shares in the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of Skyward Specialty Insurance Group during the 3rd quarter valued at approximately $41,000. Institutional investors own 94.83% of the company's stock.

Skyward Specialty Insurance Group Stock Performance

SKWD traded up $1.10 on Friday, reaching $51.00. The company had a trading volume of 540,663 shares, compared to its average volume of 346,924. Skyward Specialty Insurance Group, Inc. has a 52-week low of $29.40 and a 52-week high of $55.62. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 0.95 and a beta of 0.76. The business has a 50 day simple moving average of $49.46 and a 200 day simple moving average of $42.30.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, beating 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 firm had revenue of $300.89 million for the quarter, compared to analysts' expectations of $292.43 million. During the same quarter last year, the company posted $0.65 EPS. As a group, equities research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays boosted their target price on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their price objective on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. JMP Securities lifted their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a "market outperform" rating in a report on Wednesday, October 30th. Finally, Raymond James upped their price target on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a "strong-buy" rating in a research report on Tuesday, November 5th. Three investment 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 company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.89.

Insiders Place Their Bets

In other news, Director James Charles Hays sold 25,000 shares of the 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 sale, the director now directly owns 747,261 shares in the company, valued at approximately $40,352,094. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.01% of the stock is currently owned by 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.