85,291 Shares in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Purchased by Redwood Investments LLC

Redwood Investments LLC purchased a new position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 85,291 shares of the company’s stock, valued at approximately $2,890,000. Redwood Investments LLC owned about 0.23% of Skyward Specialty Insurance Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its holdings in shares of Skyward Specialty Insurance Group by 390.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,032 shares of the company’s stock worth $52,000 after buying an additional 1,618 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Skyward Specialty Insurance Group by 90.9% during the third quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock worth $63,000 after buying an additional 1,095 shares during the last quarter. Citigroup Inc. purchased a new position in shares of Skyward Specialty Insurance Group during the second quarter worth about $87,000. New York State Common Retirement Fund purchased a new position in shares of Skyward Specialty Insurance Group during the first quarter worth about $81,000. Finally, California State Teachers Retirement System purchased a new stake in Skyward Specialty Insurance Group in the 1st quarter valued at approximately $84,000. 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 $37.41 on Monday. The business’s 50 day simple moving average is $34.16 and its 200-day simple moving average is $31.91. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 16.70 and a beta of 0.45. Skyward Specialty Insurance Group, Inc. has a 12 month low of $19.70 and a 12 month high of $37.80.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.05. Skyward Specialty Insurance Group had a return on equity of 15.27% and a net margin of 9.56%. The firm had revenue of $321.60 million during the quarter, compared to the consensus estimate of $320.34 million. During the same period in the previous year, the firm posted $0.36 EPS. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

SKWD has been the topic of a number of analyst reports. JMP Securities lifted their price objective on Skyward Specialty Insurance Group from $38.00 to $40.00 and gave the company a “market outperform” rating in a report on Wednesday, February 21st. Wolfe Research initiated coverage on Skyward Specialty Insurance Group in a report on Thursday, January 11th. They issued an “outperform” rating and a $39.00 price objective on the stock. Truist Financial lifted their price objective on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. BMO Capital Markets lifted their price objective on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a report on Monday, February 26th. Finally, Raymond James lifted their price objective on Skyward Specialty Insurance Group from $36.00 to $40.00 and gave the company a “strong-buy” rating in a report on Tuesday, December 12th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of “Buy” and a consensus target price of $38.44.

Insider Buying and Selling

In related news, CEO Andrew S. Robinson sold 13,374 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total transaction of $477,451.80. Following the completion of the transaction, the chief executive officer now directly owns 96,883 shares in the company, valued at approximately $3,458,723.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 13,374 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total value of $477,451.80. Following the completion of the transaction, the chief executive officer now directly owns 96,883 shares in the company, valued at approximately $3,458,723.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew S. Robinson sold 12,109 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $35.56, for a total value of $430,596.04. Following the completion of the transaction, the chief executive officer now owns 74,533 shares of the company’s stock, valued at $2,650,393.48. The disclosure for this sale can be found here. Insiders sold 98,890 shares of company stock worth $3,533,839 in the last ninety days.

Skyward Specialty Insurance Group Company 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.