Charles Schwab Investment Management Inc. Raises Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Charles Schwab Investment Management Inc. increased its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 283,629 shares of the company’s stock after buying an additional 3,687 shares during the period. Charles Schwab Investment Management Inc. owned about 0.71% of Skyward Specialty Insurance Group worth $14,335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in Skyward Specialty Insurance Group by 11.3% during the fourth quarter. Bank of New York Mellon Corp now owns 122,402 shares of the company’s stock worth $6,186,000 after buying an additional 12,391 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Skyward Specialty Insurance Group during the fourth quarter worth about $880,000. Pinnacle Financial Partners Inc purchased a new stake in Skyward Specialty Insurance Group during the fourth quarter worth about $220,000. Navellier & Associates Inc. boosted its holdings in Skyward Specialty Insurance Group by 40.6% during the fourth quarter. Navellier & Associates Inc. now owns 36,282 shares of the company’s stock worth $1,834,000 after buying an additional 10,478 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in Skyward Specialty Insurance Group during the fourth quarter worth about $2,295,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Insider Activity

In other news, insider Thomas N. Schmitt sold 637 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $47.81, for a total value of $30,454.97. Following the completion of the transaction, the insider now owns 10,792 shares of the company’s stock, valued at $515,965.52. The trade was a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew S. Robinson sold 6,010 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 27,450 shares of company stock valued at $1,369,342 over the last 90 days. Insiders own 8.01% of the company’s stock.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ SKWD opened at $49.85 on Friday. The firm’s 50-day moving average is $47.71 and its two-hundred day moving average is $47.05. The company has a market capitalization of $2.00 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 0.81 and a beta of 0.67. 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 posted its quarterly earnings data 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. The business had revenue of $304.40 million during the quarter, compared to analyst estimates of $295.56 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. On average, analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SKWD has been the topic of a number of research analyst reports. Barclays raised shares of Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $53.00 to $63.00 in a report on Friday, March 14th. Truist Financial boosted their price objective on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a “hold” rating and a $43.00 price target on the stock. Keefe, Bruyette & Woods upped their price target on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Finally, Piper Sandler reduced their price target on shares of 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. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.25.

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.