Price T Rowe Associates Inc. MD Boosts Stock Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Price T Rowe Associates Inc. MD increased its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 37.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,048,554 shares of the company’s stock after buying an additional 283,749 shares during the quarter. Price T Rowe Associates Inc. MD owned about 2.61% of Skyward Specialty Insurance Group worth $52,995,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its holdings in shares of Skyward Specialty Insurance Group by 756.1% during the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock worth $46,000 after acquiring an additional 809 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter worth approximately $61,000. Summit Investment Advisors Inc. raised its position in shares of Skyward Specialty Insurance Group by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after buying an additional 247 shares during the period. Hsbc Holdings PLC acquired a new position in Skyward Specialty Insurance Group in the fourth quarter valued at approximately $219,000. Finally, Pinnacle Financial Partners Inc purchased a new position in Skyward Specialty Insurance Group in the fourth quarter worth approximately $220,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Insider Activity

In related news, Director Gena L. Ashe sold 1,000 shares of the firm’s stock in a transaction that occurred 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 $37,155.08. This trade represents a 57.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John A. Burkhart III sold 4,832 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $50.24, for a total transaction of $242,759.68. Following the transaction, the insider now owns 17,655 shares of the company’s stock, valued at $886,987.20. This trade represents a 21.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,132 shares of company stock worth $620,476. 8.01% of the stock is currently owned by company insiders.

Skyward Specialty Insurance Group Stock Up 1.0 %

Shares of SKWD stock opened at $53.54 on Wednesday. Skyward Specialty Insurance Group, Inc. has a 52 week low of $33.42 and a 52 week high of $56.98. The firm has a 50 day moving average of $51.68 and a two-hundred day moving average of $49.46. The stock has a market capitalization of $2.16 billion, a PE ratio of 16.32, a P/E/G ratio of 0.81 and a beta of 0.63.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on SKWD. Truist Financial upped their price target on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Piper Sandler lowered their target price on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Barclays boosted their price target on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods decreased their price objective on shares of Skyward Specialty Insurance Group from $62.00 to $57.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Jefferies Financial Group downgraded shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and dropped their target price for the company from $62.00 to $59.00 in a report on Friday, April 11th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

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.