Victory Capital Management Inc. Sells 55,707 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Victory Capital Management Inc. decreased its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 687,366 shares of the company's stock after selling 55,707 shares during the period. Victory Capital Management Inc. owned 1.71% of Skyward Specialty Insurance Group worth $34,739,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP increased its position 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 worth $56,000 after purchasing an additional 879 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter worth $61,000. Pinnacle Financial Partners Inc purchased a new position in Skyward Specialty Insurance Group in the fourth quarter worth $220,000. Kirr Marbach & Co. LLC IN bought a new position in Skyward Specialty Insurance Group in the fourth quarter valued at $252,000. Finally, FORA Capital LLC bought a new position in Skyward Specialty Insurance Group in the third quarter valued at $256,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Price Performance

Skyward Specialty Insurance Group stock traded down $1.12 during trading hours on Thursday, reaching $47.35. The stock had a trading volume of 355,850 shares, compared to its average volume of 350,214. The stock has a market cap of $1.90 billion, a PE ratio of 14.44, a PEG ratio of 0.81 and a beta of 0.66. Skyward Specialty Insurance Group, Inc. has a 52 week low of $33.27 and a 52 week high of $55.62. The company has a fifty day simple moving average of $47.35 and a 200-day simple moving average of $46.72.

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Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The business had revenue of $304.40 million for the quarter, compared to analysts' expectations of $295.56 million. Research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SKWD has been the subject of a number of research reports. TD Cowen began coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a "hold" rating and a $43.00 price objective for the company. Wolfe Research reaffirmed a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. JMP Securities reissued a "market outperform" rating and set a $60.00 price target on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Barclays upped their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $55.00.

Insider Activity

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 6,010 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on 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 directly owns 77,144 shares of the company's stock, valued at approximately $3,808,599.28. The trade was a 7.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas N. Schmitt sold 6,300 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $51.92, for a total value of $327,096.00. Following the completion of the transaction, the insider now directly owns 3,946 shares of the company's stock, valued at $204,876.32. This represents a 61.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,450 shares of company stock valued at $1,369,342. Corporate 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.