Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 18.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 390,706 shares of the company’s stock after acquiring an additional 60,412 shares during the quarter. Northern Trust Corp’s holdings in Skyward Specialty Insurance Group were worth $19,746,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sterling Capital Management LLC raised its position in Skyward Specialty Insurance Group by 756.1% in the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after purchasing an additional 809 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Skyward Specialty Insurance Group by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after buying an additional 247 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $219,000. Pinnacle Financial Partners Inc acquired a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter worth about $220,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Skyward Specialty Insurance Group during the fourth quarter worth about $230,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ SKWD opened at $59.75 on Wednesday. The firm has a market cap of $2.41 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 0.81 and a beta of 0.64. Skyward Specialty Insurance Group, Inc. has a 1 year low of $33.42 and a 1 year high of $60.93. The firm’s 50 day moving average price is $53.01 and its 200 day moving average price is $50.29.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on SKWD shares. Piper Sandler upped their price target on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods upped their price objective on shares of Skyward Specialty Insurance Group from $57.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Citigroup reaffirmed 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 target for the stock from $62.00 to $59.00 in a report on Friday, April 11th. Finally, Wolfe Research restated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Four equities research 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.13.

Insiders Place Their Bets

In other news, Director Gena L. Ashe sold 1,000 shares of the stock in a transaction dated 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 in the company, valued at $37,155.08. This represents a 57.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John A. Burkhart III sold 4,832 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total transaction of $242,759.68. Following the completion of the sale, the insider now owns 17,655 shares of the company’s stock, valued at approximately $886,987.20. The trade was a 21.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,132 shares of company stock valued at $620,476. Insiders own 8.01% of the company’s stock.

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.