Sheets Smith Investment Management Invests $813,000 in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Sheets Smith Investment Management acquired a new position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 16,090 shares of the company’s stock, valued at approximately $813,000.

Other institutional investors have also modified their holdings of the company. Quarry LP lifted its position in shares of Skyward Specialty Insurance Group by 176.9% during the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after buying an additional 879 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter worth approximately $61,000. Pinnacle Financial Partners Inc purchased a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter worth approximately $220,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter worth approximately $230,000. Finally, Kirr Marbach & Co. LLC IN purchased a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter worth approximately $252,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Insider Transactions at Skyward Specialty Insurance Group

In other news, insider Thomas N. Schmitt sold 6,300 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $51.92, for a total transaction of $327,096.00. Following 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John A. Burkhart III sold 4,832 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.24, for a total transaction of $242,759.68. Following the completion of the sale, the insider now owns 17,655 shares in the company, valued at $886,987.20. This represents a 21.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,450 shares of company stock valued at $1,369,342 in the last ninety days. 8.01% of the stock is currently owned by company insiders.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD opened at $49.75 on Monday. The stock has a market capitalization of $2.00 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.81 and a beta of 0.67. The company’s fifty day moving average is $47.85 and its two-hundred day moving average is $47.21. Skyward Specialty Insurance Group, Inc. has a 1 year low of $33.27 and a 1 year 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 earnings per share for the quarter, topping analysts’ consensus estimates 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. Sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Wall Street Analysts Forecast Growth

SKWD has been the subject of several research reports. Barclays upgraded shares of Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $53.00 to $63.00 in a research report on Friday, March 14th. Truist Financial upped their price target on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. TD Cowen initiated 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 price target for the company. Finally, JMP Securities reiterated a “market outperform” rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $56.25.

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.