Principal Financial Group Inc. Sells 24,942 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Principal Financial Group Inc. lessened its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 24.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,163 shares of the company’s stock after selling 24,942 shares during the quarter. Principal Financial Group Inc. owned about 0.20% of Skyward Specialty Insurance Group worth $4,001,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Jennison Associates LLC raised its stake in shares of Skyward Specialty Insurance Group by 1.0% during the 3rd quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock worth $52,786,000 after acquiring an additional 12,484 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Skyward Specialty Insurance Group by 16.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock worth $45,506,000 after acquiring an additional 158,679 shares in the last quarter. State Street Corp raised its stake in shares of Skyward Specialty Insurance Group by 10.8% during the 3rd quarter. State Street Corp now owns 844,233 shares of the company’s stock worth $34,386,000 after acquiring an additional 82,328 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Skyward Specialty Insurance Group by 12.9% during the 3rd quarter. Victory Capital Management Inc. now owns 743,073 shares of the company’s stock worth $30,265,000 after acquiring an additional 84,623 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in Skyward Specialty Insurance Group by 15.3% during the 3rd quarter. Two Sigma Advisers LP now owns 490,200 shares of the company’s stock valued at $19,966,000 after purchasing an additional 65,200 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Price Performance

SKWD stock opened at $54.14 on Tuesday. The firm’s fifty day simple moving average is $47.52 and its 200-day simple moving average is $46.25. The company has a market capitalization of $2.17 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 0.81 and a beta of 0.83. Skyward Specialty Insurance Group, Inc. has a 12 month low of $33.27 and a 12 month high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $295.56 million. As a group, sell-side analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SKWD shares. JMP Securities restated a “market outperform” rating and set a $60.00 price target on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. 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 note on Thursday, February 27th. Barclays upped their price target on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a “hold” rating and a $43.00 price target on the stock. Finally, Wolfe Research restated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and an average price target of $55.00.

Insider Buying and Selling

In related news, CEO Andrew S. Robinson sold 6,010 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total transaction of $296,713.70. Following the sale, the chief executive officer now directly owns 77,144 shares of the company’s stock, valued at approximately $3,808,599.28. This represents a 7.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sandip A. Kapadia sold 908 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $46.98, for a total transaction of $42,657.84. Following the sale, the executive vice president now directly owns 10,371 shares in the company, valued at $487,229.58. This trade represents a 8.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,318 shares of company stock valued at $748,866. Corporate insiders own 8.01% of the company’s stock.

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.