American Century Companies Inc. Buys 553,389 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

American Century Companies Inc. grew its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 54.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,577,846 shares of the company’s stock after purchasing an additional 553,389 shares during the quarter. American Century Companies Inc.’s holdings in Skyward Specialty Insurance Group were worth $79,744,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Teacher Retirement System of Texas lifted its stake in shares of Skyward Specialty Insurance Group by 432.5% in the fourth quarter. Teacher Retirement System of Texas now owns 142,421 shares of the company’s stock worth $7,198,000 after buying an additional 115,674 shares in the last quarter. Royce & Associates LP lifted its position in Skyward Specialty Insurance Group by 76.9% in the 4th quarter. Royce & Associates LP now owns 116,799 shares of the company’s stock valued at $5,903,000 after acquiring an additional 50,758 shares in the last quarter. Moran Wealth Management LLC purchased a new stake in Skyward Specialty Insurance Group during the 4th quarter valued at $477,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter worth $230,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth $3,191,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Stock Up 5.7 %

NASDAQ SKWD opened at $52.58 on Tuesday. The stock’s 50-day moving average price is $48.04 and its 200-day moving average price is $47.28. The company has a market capitalization of $2.11 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 0.81 and a beta of 0.67. Skyward Specialty Insurance Group, Inc. has a 52 week low of $33.27 and a 52 week high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The business had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $295.56 million. Research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on SKWD. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price objective on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Truist Financial lifted their price target 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. Keefe, Bruyette & Woods increased their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. TD Cowen assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a “hold” rating and a $43.00 target price for the company. Finally, Piper Sandler lowered 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 investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $56.25.

Insider Transactions at Skyward Specialty Insurance Group

In related news, insider Thomas N. Schmitt sold 6,300 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $51.92, for a total value of $327,096.00. Following the sale, the insider now directly owns 3,946 shares in the company, valued at approximately $204,876.32. The trade was a 61.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $296,713.70. Following the completion of the sale, the chief executive officer now directly owns 77,144 shares in the company, valued at approximately $3,808,599.28. The trade was a 7.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,450 shares of company stock valued at $1,369,342. 8.01% of the stock is currently owned by corporate 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.