Engle Capital Management L.P. Has $13.04 Million Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Engle Capital Management L.P. decreased its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 40.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 258,000 shares of the company’s stock after selling 172,871 shares during the quarter. Skyward Specialty Insurance Group accounts for approximately 3.9% of Engle Capital Management L.P.’s holdings, making the stock its 13th biggest holding. Engle Capital Management L.P.’s holdings in Skyward Specialty Insurance Group were worth $13,039,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. FJ Capital Management LLC lifted its holdings in Skyward Specialty Insurance Group by 15.8% during the 4th quarter. FJ Capital Management LLC now owns 32,182 shares of the company’s stock valued at $1,626,000 after purchasing an additional 4,380 shares during the last quarter. Deutsche Bank AG grew its position in Skyward Specialty Insurance Group by 4.4% during the 4th quarter. Deutsche Bank AG now owns 433,331 shares of the company’s stock worth $21,901,000 after acquiring an additional 18,209 shares during the last quarter. Cetera Investment Advisers grew its position in Skyward Specialty Insurance Group by 12.5% during the 4th quarter. Cetera Investment Advisers now owns 9,075 shares of the company’s stock worth $459,000 after acquiring an additional 1,006 shares during the last quarter. Bank of America Corp DE increased its holdings in Skyward Specialty Insurance Group by 18.5% during the 4th quarter. Bank of America Corp DE now owns 144,256 shares of the company’s stock valued at $7,291,000 after purchasing an additional 22,570 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Skyward Specialty Insurance Group in the fourth quarter worth $1,651,000. Institutional investors own 94.83% of the company’s stock.

Insider Activity at Skyward Specialty Insurance Group

In related news, insider Thomas N. Schmitt sold 6,300 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $51.92, for a total value of $327,096.00. Following the sale, the insider now directly owns 3,946 shares in the company, valued at $204,876.32. The trade was a 61.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gena L. Ashe sold 1,000 shares of the 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 $37,155.08. This trade represents a 57.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,132 shares of company stock valued at $620,476 in the last ninety days. Insiders own 8.01% of the company’s stock.

Analyst Upgrades and Downgrades

SKWD has been the topic of several research analyst reports. Truist Financial increased their target price on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Monday. JMP Securities boosted their target price on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Skyward Specialty Insurance Group from $57.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday. Citigroup reissued an “outperform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. Finally, TD Cowen began coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a “hold” rating and a $43.00 price objective for the company. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.13.

Skyward Specialty Insurance Group Stock Up 1.3 %

Shares of SKWD opened at $59.64 on Friday. The stock has a market cap of $2.41 billion, a PE ratio of 18.18, a PEG ratio of 0.81 and a beta of 0.64. Skyward Specialty Insurance Group, Inc. has a 12-month low of $33.42 and a 12-month high of $60.40. The business has a 50-day simple moving average of $52.51 and a two-hundred day simple moving average of $50.00.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The business had revenue of $328.53 million during the quarter, compared to analyst estimates of $310.94 million. During the same quarter in the prior year, the firm earned $0.75 earnings per share. On average, equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Skyward Specialty Insurance Group Company 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.