US Bancorp DE Cuts Stock Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

US Bancorp DE lowered its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 61.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,484 shares of the company's stock after selling 8,645 shares during the quarter. US Bancorp DE's holdings in Skyward Specialty Insurance Group were worth $277,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in Skyward Specialty Insurance Group by 11.3% in the 4th quarter. Bank of New York Mellon Corp now owns 122,402 shares of the company's stock valued at $6,186,000 after acquiring an additional 12,391 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Skyward Specialty Insurance Group during the 4th quarter worth $880,000. Pinnacle Financial Partners Inc acquired a new stake in Skyward Specialty Insurance Group during the 4th quarter worth $220,000. Navellier & Associates Inc. boosted its stake in Skyward Specialty Insurance Group by 40.6% during the 4th quarter. Navellier & Associates Inc. now owns 36,282 shares of the company's stock worth $1,834,000 after purchasing an additional 10,478 shares during the last quarter. Finally, Alberta Investment Management Corp acquired a new stake in Skyward Specialty Insurance Group during the 4th quarter worth $2,295,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Skyward Specialty Insurance Group Trading Down 0.3 %

SKWD traded down $0.13 on Tuesday, hitting $49.37. The company had a trading volume of 294,553 shares, compared to its average volume of 348,256. The firm has a market cap of $1.98 billion, a P/E ratio of 15.05, a PEG ratio of 0.81 and a beta of 0.67. Skyward Specialty Insurance Group, Inc. has a 1 year low of $33.27 and a 1 year high of $55.62. The company's fifty day moving average price is $47.47 and its 200 day moving average price is $46.95.

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Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $304.40 million for the quarter, compared to analyst estimates of $295.56 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. On average, analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays raised shares of Skyward Specialty Insurance Group from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $53.00 to $63.00 in a research note on Friday. Truist Financial lifted their target price on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Wolfe Research reaffirmed a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. JMP Securities reiterated a "market outperform" rating and set a $60.00 price target on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Finally, Piper Sandler reduced their price target on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $56.25.

Insider Activity at Skyward Specialty Insurance Group

In related news, insider Thomas N. Schmitt sold 546 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $46.85, for a total value of $25,580.10. Following the sale, the insider now directly owns 10,246 shares in the company, valued at approximately $480,025.10. The trade was a 5.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew S. Robinson sold 6,010 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total transaction of $296,713.70. Following the sale, the chief executive officer now owns 77,144 shares in the company, valued at $3,808,599.28. This trade represents a 7.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,450 shares of company stock worth $1,369,342. Company insiders own 8.01% of the company's stock.

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.