Calamos Advisors LLC Lowers Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Calamos Advisors LLC cut its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 35.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,664 shares of the company’s stock after selling 37,651 shares during the period. Calamos Advisors LLC owned 0.18% of Skyward Specialty Insurance Group worth $2,326,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royce & Associates LP purchased a new position in shares of Skyward Specialty Insurance Group during the first quarter valued at approximately $7,538,000. Barclays PLC purchased a new position in shares of Skyward Specialty Insurance Group during the first quarter valued at approximately $187,000. California State Teachers Retirement System purchased a new position in shares of Skyward Specialty Insurance Group during the first quarter valued at approximately $84,000. Bank of New York Mellon Corp purchased a new position in shares of Skyward Specialty Insurance Group during the first quarter valued at approximately $654,000. Finally, Rhumbline Advisers purchased a new position in shares of Skyward Specialty Insurance Group during the first quarter valued at approximately $220,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Trading Up 2.8 %

NASDAQ:SKWD opened at $36.24 on Friday. Skyward Specialty Insurance Group, Inc. has a 12 month low of $20.81 and a 12 month high of $38.64. The company has a market cap of $1.45 billion, a PE ratio of 16.18 and a beta of 0.45. The company has a 50 day simple moving average of $35.85 and a two-hundred day simple moving average of $32.86.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Skyward Specialty Insurance Group had a net margin of 9.56% and a return on equity of 14.31%. The firm had revenue of $321.60 million during the quarter, compared to the consensus estimate of $320.34 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. Research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 2.64 earnings per share for the current year.

Insider Activity

In other news, CEO Andrew S. Robinson sold 12,109 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $35.56, for a total transaction of $430,596.04. Following the completion of the sale, the chief executive officer now owns 74,533 shares of the company’s stock, valued at approximately $2,650,393.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Mark W. Haushill sold 25,000 shares of Skyward Specialty Insurance Group stock in a transaction on Monday, February 26th. The shares were sold at an average price of $35.58, for a total transaction of $889,500.00. Following the transaction, the chief financial officer now owns 236,688 shares in the company, valued at approximately $8,421,359.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew S. Robinson sold 12,109 shares of Skyward Specialty Insurance Group stock in a transaction on Friday, March 8th. The shares were sold at an average price of $35.56, for a total transaction of $430,596.04. Following the transaction, the chief executive officer now owns 74,533 shares in the company, valued at approximately $2,650,393.48. The disclosure for this sale can be found here. Insiders sold a total of 98,890 shares of company stock valued at $3,533,839 in the last 90 days. Company insiders own 8.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Truist Financial boosted their price objective on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. BMO Capital Markets boosted their price objective on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a “market perform” rating in a report on Monday, February 26th. JMP Securities boosted their price objective on shares of Skyward Specialty Insurance Group from $40.00 to $42.00 and gave the stock a “market outperform” rating in a report on Monday, April 15th. Finally, Piper Sandler boosted their price objective on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of “Buy” and a consensus target price of $39.89.

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.