Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Shares Sold by Dark Forest Capital Management LP

Dark Forest Capital Management LP decreased its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 76.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,803 shares of the company’s stock after selling 18,817 shares during the period. Dark Forest Capital Management LP’s holdings in Skyward Specialty Insurance Group were worth $293,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC increased its position in Skyward Specialty Insurance Group by 756.1% during the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock worth $46,000 after purchasing an additional 809 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in Skyward Specialty Insurance Group during the fourth quarter worth approximately $61,000. Summit Investment Advisors Inc. increased its position in Skyward Specialty Insurance Group by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock worth $196,000 after purchasing an additional 247 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Skyward Specialty Insurance Group during the fourth quarter worth approximately $219,000. Finally, Pinnacle Financial Partners Inc acquired a new position in Skyward Specialty Insurance Group during the fourth quarter worth approximately $220,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Insider Buying and Selling

In related news, 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 value of $242,759.68. Following the transaction, the insider now owns 17,655 shares in the company, valued at approximately $886,987.20. The trade was a 21.49 % decrease in their ownership of the stock. 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 company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $51.92, for a total value of $327,096.00. Following the sale, the insider now owns 3,946 shares in the company, valued at $204,876.32. The trade was a 61.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,132 shares of company stock worth $620,476. 8.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on SKWD. Piper Sandler dropped their price target on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Keefe, Bruyette & Woods lowered their price target on Skyward Specialty Insurance Group from $62.00 to $57.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Barclays boosted their price objective on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, April 11th. Truist Financial boosted their price objective on 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. Finally, JMP Securities restated a “market outperform” rating and set a $60.00 price objective on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD opened at $52.99 on Tuesday. Skyward Specialty Insurance Group, Inc. has a one year low of $33.42 and a one year high of $56.98. The business’s 50-day simple moving average is $51.60 and its 200 day simple moving average is $49.44. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 0.81 and a beta of 0.63.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, topping the consensus estimate 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. On average, equities research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

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.