Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 11.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,402 shares of the company’s stock after purchasing an additional 12,391 shares during the period. Bank of New York Mellon Corp owned about 0.31% of Skyward Specialty Insurance Group worth $6,186,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SKWD. Jennison Associates LLC grew its position in shares of Skyward Specialty Insurance Group by 1.0% during the third 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 during the last quarter. Franklin Resources Inc. lifted its holdings in Skyward Specialty Insurance Group by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock valued at $45,506,000 after acquiring an additional 158,679 shares during the last quarter. State Street Corp lifted its stake in Skyward Specialty Insurance Group by 10.8% during the third quarter. State Street Corp now owns 844,233 shares of the company’s stock valued at $34,386,000 after buying an additional 82,328 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Skyward Specialty Insurance Group by 12.9% during the third quarter. Victory Capital Management Inc. now owns 743,073 shares of the company’s stock valued at $30,265,000 after buying an additional 84,623 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in Skyward Specialty Insurance Group by 15.3% during the third quarter. Two Sigma Advisers LP now owns 490,200 shares of the company’s stock valued at $19,966,000 after buying 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

Skyward Specialty Insurance Group stock opened at $49.78 on Monday. The stock has a fifty day moving average price of $47.38 and a two-hundred day moving average price of $46.89. Skyward Specialty Insurance Group, Inc. has a 52-week low of $33.27 and a 52-week high of $55.62. The firm has a market capitalization of $2.00 billion, a P/E ratio of 15.18, a P/E/G ratio of 0.81 and a beta of 0.67.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $304.40 million during the quarter, compared to analyst estimates of $295.56 million. On average, equities research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Insider Transactions at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, EVP Sandip A. Kapadia sold 4,347 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $49.51, for a total value of $215,219.97. Following the sale, the executive vice president now directly owns 12,508 shares in the company, valued at approximately $619,271.08. This trade represents a 25.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew S. Robinson sold 6,010 shares of the stock in a transaction on Thursday, January 2nd. The stock was 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 $3,808,599.28. This represents a 7.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,450 shares of company stock worth $1,369,342 in the last quarter. 8.01% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SKWD has been the topic of a number of research reports. Piper Sandler dropped their target price on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Keefe, Bruyette & Woods increased their price target 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. Barclays raised Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $53.00 to $63.00 in a research report on Friday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 target price on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.25.

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.