Wells Fargo & Company MN Buys 9,461 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Wells Fargo & Company MN increased its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 52.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,507 shares of the company's stock after acquiring an additional 9,461 shares during the period. Wells Fargo & Company MN owned approximately 0.07% of Skyward Specialty Insurance Group worth $1,390,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. ORG Wealth Partners LLC purchased a new position in shares of Skyward Specialty Insurance Group during the fourth quarter valued at approximately $61,000. Pinnacle Financial Partners Inc purchased a new position in shares of Skyward Specialty Insurance Group during the fourth quarter valued at approximately $220,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Skyward Specialty Insurance Group during the fourth quarter valued at approximately $230,000. Kirr Marbach & Co. LLC IN purchased a new position in shares of Skyward Specialty Insurance Group during the fourth quarter valued at approximately $252,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Skyward Specialty Insurance Group during the fourth quarter valued at approximately $379,000. Hedge funds and other institutional investors own 94.83% of the company's stock.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ SKWD opened at $52.06 on Monday. The stock has a market capitalization of $2.10 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 0.81 and a beta of 0.63. Skyward Specialty Insurance Group, Inc. has a 1-year low of $33.42 and a 1-year high of $56.98. The business has a fifty day moving average price of $51.53 and a 200 day moving average price of $49.38.

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 for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The firm had revenue of $304.40 million during the quarter, compared to analysts' expectations of $295.56 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. As a group, equities research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Jefferies Financial Group lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and dropped their target price for the company from $62.00 to $59.00 in a research report on Friday, April 11th. Wolfe Research restated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. TD Cowen started coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a "hold" rating and a $43.00 target price for the company. Piper Sandler lowered their target price on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Finally, Truist Financial upped their target price on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.00.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Director Gena L. Ashe sold 1,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.62, for a total value of $50,620.00. Following the completion of the sale, the director now directly owns 734 shares in the company, valued at approximately $37,155.08. This trade represents a 57.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas N. Schmitt sold 6,300 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $51.92, for a total value of $327,096.00. Following the completion of the sale, the insider now owns 3,946 shares of the company's stock, valued at approximately $204,876.32. This trade represents a 61.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,132 shares of company stock worth $620,476. 8.01% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.