32,665 Shares in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets purchased a new position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) in the fourth quarter, Holdings Channel reports. The fund purchased 32,665 shares of the company’s stock, valued at approximately $1,651,000.

A number of other institutional investors also recently added to or reduced their stakes in SKWD. Sterling Capital Management LLC raised its holdings in Skyward Specialty Insurance Group by 756.1% during the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock worth $46,000 after purchasing an additional 809 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Skyward Specialty Insurance Group by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock worth $196,000 after purchasing an additional 247 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Skyward Specialty Insurance Group during the fourth quarter worth approximately $219,000. Pinnacle Financial Partners Inc acquired a new stake in Skyward Specialty Insurance Group during the fourth quarter worth approximately $220,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Skyward Specialty Insurance Group during the fourth quarter worth approximately $230,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Price Performance

Shares of Skyward Specialty Insurance Group stock opened at $63.61 on Monday. The firm’s fifty day simple moving average is $53.87 and its 200-day simple moving average is $50.70. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 19.39, 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 $63.66.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $328.53 million for the quarter, compared to analysts’ expectations of $310.94 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same period in the previous year, the company posted $0.75 EPS. Analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Analysts Set New Price Targets

SKWD has been the topic of a number of research analyst reports. Piper Sandler raised their price objective on shares of Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. JMP Securities raised their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a report on Friday, May 2nd. Citigroup reissued an “outperform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. Jefferies Financial Group cut shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $62.00 to $59.00 in a report on Friday, April 11th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.13.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 6,300 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 3,946 shares of the company’s stock, valued at approximately $204,876.32. The trade was a 61.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Kirby Hill sold 8,249 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $60.87, for a total transaction of $502,116.63. Following the completion of the transaction, the chairman now directly owns 8,249 shares in the company, valued at $502,116.63. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,381 shares of company stock valued at $1,122,592. 8.01% of the stock is owned by company 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.