US Bancorp DE Lowers Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

US Bancorp DE reduced its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 61.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,484 shares of the company’s stock after selling 8,645 shares during the quarter. US Bancorp DE’s holdings in Skyward Specialty Insurance Group were worth $277,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quarry LP boosted its stake in shares of Skyward Specialty Insurance Group by 176.9% during the third quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after purchasing an additional 879 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter valued at $61,000. Pinnacle Financial Partners Inc bought a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $220,000. Kirr Marbach & Co. LLC IN bought a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $252,000. Finally, FORA Capital LLC bought a new stake in shares of Skyward Specialty Insurance Group in the third quarter valued at about $256,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SKWD has been the subject of several recent research reports. JMP Securities restated 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. Keefe, Bruyette & Woods lifted their price objective on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Piper Sandler decreased their price objective on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Barclays upgraded Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $53.00 to $63.00 in a report on Friday. Finally, TD Cowen initiated coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a “hold” rating and a $43.00 price objective for the company. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and a consensus price target of $56.25.

Insider Activity

In other news, insider Thomas N. Schmitt sold 637 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $47.81, for a total transaction of $30,454.97. Following the transaction, the insider now owns 10,792 shares in the company, valued at $515,965.52. This represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andrew S. Robinson sold 6,010 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total transaction of $296,713.70. Following the transaction, the chief executive officer now owns 77,144 shares in the company, valued at approximately $3,808,599.28. This trade represents a 7.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,450 shares of company stock worth $1,369,342 over the last 90 days. 8.01% of the stock is currently owned by corporate insiders.

Skyward Specialty Insurance Group Stock Performance

Shares of Skyward Specialty Insurance Group stock opened at $49.78 on Friday. The company has a market capitalization of $2.00 billion, a PE ratio of 15.18, a P/E/G ratio of 0.81 and a beta of 0.66. The company has a 50-day simple moving average of $47.38 and a two-hundred day simple moving average of $46.79. Skyward Specialty Insurance Group, Inc. has a one year low of $33.27 and a one year high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.80 earnings per share (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 firm had revenue of $304.40 million for the quarter, compared to the consensus estimate of $295.56 million. On average, equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

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.