Victory Capital Management Inc. Purchases Shares of 560,274 Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Victory Capital Management Inc. purchased a new position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 560,274 shares of the company’s stock, valued at approximately $18,982,000. Victory Capital Management Inc. owned about 1.49% of Skyward Specialty Insurance Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Amalgamated Bank increased its stake in Skyward Specialty Insurance Group by 90.9% during the 3rd quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock valued at $63,000 after purchasing an additional 1,095 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Skyward Specialty Insurance Group by 54.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock worth $114,000 after acquiring an additional 1,186 shares during the last quarter. Diversified Trust Co lifted its position in Skyward Specialty Insurance Group by 21.1% during the 4th quarter. Diversified Trust Co now owns 9,325 shares of the company’s stock worth $316,000 after acquiring an additional 1,625 shares during the period. New York State Common Retirement Fund grew its stake in Skyward Specialty Insurance Group by 82.2% during the 3rd quarter. New York State Common Retirement Fund now owns 6,895 shares of the company’s stock valued at $189,000 after purchasing an additional 3,110 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth about $161,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday. Piper Sandler boosted their target price on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. BMO Capital Markets lifted their price objective on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. JMP Securities raised their target price on Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the stock a “market outperform” rating in a report on Thursday, May 2nd. Finally, Truist Financial boosted their price target on Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the company a “buy” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $40.78.

Insider Activity

In related news, CFO Mark W. Haushill sold 35,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the completion of the transaction, the chief financial officer now owns 261,688 shares in the company, valued at approximately $9,410,300.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Mark W. Haushill sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the completion of the sale, the chief financial officer now directly owns 261,688 shares in the company, valued at $9,410,300.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew S. Robinson sold 13,374 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $35.70, for a total value of $477,451.80. Following the completion of the transaction, the chief executive officer now directly owns 96,883 shares of the company’s stock, valued at $3,458,723.10. The disclosure for this sale can be found here. Insiders have sold a total of 98,890 shares of company stock worth $3,533,839 over the last 90 days. 8.01% of the stock is currently owned by company insiders.

Skyward Specialty Insurance Group Trading Down 0.6 %

Shares of SKWD opened at $36.93 on Friday. The firm has a market cap of $1.48 billion, a P/E ratio of 13.58 and a beta of 0.68. The stock’s 50 day moving average is $36.33 and its two-hundred day moving average is $33.55. Skyward Specialty Insurance Group, Inc. has a 12 month low of $21.93 and a 12 month high of $38.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. The firm had revenue of $264.97 million for the quarter, compared to analysts’ expectations of $251.66 million. Skyward Specialty Insurance Group had a net margin of 11.16% and a return on equity of 16.81%. During the same quarter last year, the company earned $0.42 EPS. Equities research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 2.7 EPS for the current year.

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.