Thrivent Financial for Lutherans Decreases Stock Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Thrivent Financial for Lutherans trimmed its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 28.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,469 shares of the company’s stock after selling 5,439 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Skyward Specialty Insurance Group were worth $680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. IHT Wealth Management LLC lifted its stake in shares of Skyward Specialty Insurance Group by 4.6% in the 3rd quarter. IHT Wealth Management LLC now owns 10,501 shares of the company’s stock valued at $428,000 after purchasing an additional 464 shares during the period. Quarry LP boosted its holdings in shares of Skyward Specialty Insurance Group by 176.9% during the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after buying an additional 879 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Skyward Specialty Insurance Group by 19.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,727 shares of the company’s stock worth $274,000 after buying an additional 1,095 shares during the period. ORG Wealth Partners LLC bought a new position in shares of Skyward Specialty Insurance Group in the 4th quarter worth about $61,000. Finally, Nordea Investment Management AB lifted its position in Skyward Specialty Insurance Group by 2.4% during the 4th quarter. Nordea Investment Management AB now owns 64,321 shares of the company’s stock valued at $3,248,000 after acquiring an additional 1,523 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Price Performance

SKWD opened at $54.64 on Thursday. The business has a 50 day simple moving average of $49.29 and a 200-day simple moving average of $47.89. Skyward Specialty Insurance Group, Inc. has a 12 month low of $33.27 and a 12 month high of $55.62. The stock has a market capitalization of $2.20 billion, a P/E ratio of 16.66, a P/E/G ratio of 0.81 and a beta of 0.67.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $304.40 million for the quarter, compared to the consensus estimate of $295.56 million. Research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Analyst Ratings Changes

SKWD has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. TD Cowen assumed coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a “hold” rating and a $43.00 price target for the company. Truist Financial increased their price objective on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Barclays upgraded shares of Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $53.00 to $63.00 in a research note on Friday, March 14th. Three research 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.25.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group 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 value of $30,454.97. Following the completion of the sale, the insider now directly owns 10,792 shares of the company’s stock, valued at approximately $515,965.52. This represents a 5.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gena L. Ashe sold 1,000 shares of Skyward Specialty Insurance Group stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total value of $50,620.00. Following the completion of the transaction, the director now owns 734 shares in the company, valued at $37,155.08. The trade was a 57.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,463 shares of company stock valued at $777,441 over the last 90 days. 8.01% of the stock is owned by company insiders.

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.