KLP Kapitalforvaltning AS Makes New Investment in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

KLP Kapitalforvaltning AS purchased a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,500 shares of the company’s stock, valued at approximately $379,000.

A number of other institutional investors also recently modified their holdings of the company. Barclays PLC grew its holdings in shares of Skyward Specialty Insurance Group by 277.7% during the third quarter. Barclays PLC now owns 64,032 shares of the company’s stock worth $2,608,000 after buying an additional 47,081 shares in the last quarter. Principal Financial Group Inc. boosted its position in Skyward Specialty Insurance Group by 49.8% during the 3rd quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock worth $4,240,000 after acquiring an additional 34,612 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Skyward Specialty Insurance Group by 32.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company’s stock worth $3,515,000 after acquiring an additional 21,346 shares in the last quarter. State Street Corp raised its holdings in shares of Skyward Specialty Insurance Group by 10.8% in the third quarter. State Street Corp now owns 844,233 shares of the company’s stock valued at $34,386,000 after purchasing an additional 82,328 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Skyward Specialty Insurance Group in the third quarter worth $394,000. 94.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on SKWD. Wolfe Research reaffirmed a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Keefe, Bruyette & Woods raised 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. Truist Financial upped their target price on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. JMP Securities restated a “market outperform” rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Finally, Barclays raised Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $53.00 to $63.00 in a research report on Friday, March 14th. Three equities 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $56.25.

Skyward Specialty Insurance Group Stock Down 8.3 %

SKWD opened at $49.54 on Friday. Skyward Specialty Insurance Group, Inc. has a 12-month low of $33.27 and a 12-month high of $55.62. The business has a 50 day moving average of $49.68 and a 200-day moving average of $48.01. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.81 and a beta of 0.67.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results 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 return on equity of 16.39% and a net margin of 12.24%. The business had revenue of $304.40 million during the quarter, compared to the consensus estimate of $295.56 million. As a group, analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Insider Transactions at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 546 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $46.85, for a total transaction of $25,580.10. Following the transaction, the insider now owns 10,246 shares in the company, valued at $480,025.10. This represents a 5.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gena L. Ashe sold 1,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $50.62, for a total value of $50,620.00. Following the sale, the director now owns 734 shares of the company’s stock, valued at approximately $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. In the last 90 days, insiders sold 14,369 shares of company stock worth $725,173. 8.01% of the stock is owned by 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.