Graham Capital Management L.P. Sells 9,767 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Graham Capital Management L.P. lowered its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 69.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,317 shares of the company’s stock after selling 9,767 shares during the quarter. Graham Capital Management L.P.’s holdings in Skyward Specialty Insurance Group were worth $218,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC raised its holdings in shares of Skyward Specialty Insurance Group by 756.1% in the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock worth $46,000 after purchasing an additional 809 shares during the period. Summit Investment Advisors Inc. raised its holdings in shares of Skyward Specialty Insurance Group by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock worth $196,000 after purchasing an additional 247 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter worth approximately $219,000. Pinnacle Financial Partners Inc bought a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter worth approximately $220,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter worth approximately $230,000. Institutional investors own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Truist Financial lifted their price objective on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Piper Sandler lifted their price objective on shares of Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Jefferies Financial Group lowered shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and reduced their price target for the company from $62.00 to $59.00 in a research report on Friday, April 11th. Finally, Citigroup restated an “outperform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.13.

Insiders Place Their Bets

In related news, Chairman Kirby Hill sold 8,249 shares of the firm’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 of the company’s stock, valued at approximately $502,116.63. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gena L. Ashe sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $50.62, for a total transaction of $50,620.00. Following the transaction, the director now directly owns 734 shares of the company’s stock, valued at $37,155.08. The trade was a 57.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,381 shares of company stock worth $1,122,592. Company insiders own 8.01% of the company’s stock.

Skyward Specialty Insurance Group Trading Up 1.7%

Shares of NASDAQ:SKWD opened at $63.61 on Monday. Skyward Specialty Insurance Group, Inc. has a 12 month low of $33.42 and a 12 month high of $63.66. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 0.81 and a beta of 0.64. The company has a 50-day moving average price of $53.87 and a 200-day moving average price of $50.70.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly 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. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The firm had revenue of $328.53 million for the quarter, compared to analysts’ expectations of $310.94 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. As a group, research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal 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.