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

KLP Kapitalforvaltning AS purchased a new stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the fourth quarter, Holdings Channel reports. The fund purchased 7,500 shares of the company’s stock, valued at approximately $379,000.

Other large investors have also recently bought and sold shares of the company. IHT Wealth Management LLC boosted its position in shares of Skyward Specialty Insurance Group by 4.6% during 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 in the last quarter. Quarry LP lifted its stake in Skyward Specialty Insurance Group by 176.9% in the third quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after buying an additional 879 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Skyward Specialty Insurance Group by 19.4% during 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 in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter worth approximately $61,000. Finally, Nordea Investment Management AB increased its stake in shares of Skyward Specialty Insurance Group by 2.4% in 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 in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on SKWD. TD Cowen began coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a “hold” rating and a $43.00 target price on the stock. Barclays raised shares of Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $53.00 to $63.00 in a research report on Friday, March 14th. Wolfe Research reaffirmed a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price target on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Finally, Piper Sandler reduced their price objective on 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. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $56.25.

Skyward Specialty Insurance Group Stock Performance

NASDAQ SKWD opened at $49.54 on Friday. The stock has a market cap of $2.00 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 0.81 and a beta of 0.67. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $33.27 and a fifty-two week high of $55.62. The stock has a 50 day simple moving average of $49.68 and a two-hundred day simple moving average of $48.01.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $295.56 million. Sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 546 shares of the company’s stock in a transaction dated 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 approximately $480,025.10. This represents a 5.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sandip A. Kapadia sold 908 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $46.98, for a total transaction of $42,657.84. Following the sale, the executive vice president now owns 10,371 shares of the company’s stock, valued at approximately $487,229.58. This represents a 8.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,369 shares of company stock valued at $725,173. Insiders own 8.01% of the company’s stock.

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.