Principal Financial Group Inc. Acquires 34,612 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Principal Financial Group Inc. lifted its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 49.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,105 shares of the company’s stock after purchasing an additional 34,612 shares during the period. Principal Financial Group Inc. owned about 0.26% of Skyward Specialty Insurance Group worth $4,240,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC increased its holdings in Skyward Specialty Insurance Group by 277.7% during the third quarter. Barclays PLC now owns 64,032 shares of the company’s stock worth $2,608,000 after buying an additional 47,081 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Skyward Specialty Insurance Group during the 2nd quarter worth approximately $10,152,000. Navellier & Associates Inc. bought a new stake in shares of Skyward Specialty Insurance Group in the 3rd quarter worth approximately $1,051,000. State Street Corp raised its holdings in shares of Skyward Specialty Insurance Group by 10.8% in the 3rd quarter. State Street Corp now owns 844,233 shares of the company’s stock worth $34,386,000 after purchasing an additional 82,328 shares during the period. Finally, American Century Companies Inc. lifted its stake in Skyward Specialty Insurance Group by 9.2% in the second quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock valued at $33,269,000 after purchasing an additional 77,354 shares during the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director James Charles Hays sold 25,000 shares of Skyward Specialty Insurance Group stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the director now directly owns 747,261 shares of the company’s stock, valued at approximately $40,352,094. The trade was a 3.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.01% of the stock is owned by company insiders.

Skyward Specialty Insurance Group Price Performance

SKWD opened at $49.05 on Friday. The firm has a market capitalization of $1.97 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 0.95 and a beta of 0.76. Skyward Specialty Insurance Group, Inc. has a one year low of $29.40 and a one year high of $55.62. The company has a fifty day moving average price of $50.21 and a 200-day moving average price of $43.17.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. The business had revenue of $300.89 million for the quarter, compared to analyst estimates of $292.43 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. During the same period in the prior year, the company earned $0.65 EPS. On average, analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SKWD. JMP Securities boosted their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Raymond James upped their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 5th. Jefferies Financial Group lifted their target price on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Barclays boosted their price target on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.89.

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.