International Assets Investment Management LLC Invests $161,000 in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

International Assets Investment Management LLC purchased a new stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,743 shares of the company’s stock, valued at approximately $161,000.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of Skyward Specialty Insurance Group by 208.9% during the third quarter. Bank of New York Mellon Corp now owns 91,346 shares of the company’s stock valued at $2,499,000 after purchasing an additional 61,772 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Skyward Specialty Insurance Group in the third quarter worth $306,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Skyward Specialty Insurance Group in the third quarter worth $3,296,000. Jennison Associates LLC increased its holdings in shares of Skyward Specialty Insurance Group by 35.2% during the third quarter. Jennison Associates LLC now owns 1,356,301 shares of the company’s stock valued at $37,108,000 after acquiring an additional 352,971 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of Skyward Specialty Insurance Group in the 3rd quarter worth about $957,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Stock Performance

SKWD stock opened at $33.46 on Monday. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 14.94 and a beta of 0.45. The business’s 50-day moving average is $36.17 and its two-hundred day moving average is $33.13. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $20.89 and a fifty-two week high of $38.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.61 earnings per share (EPS) for the quarter, topping 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 company had revenue of $321.60 million for the quarter, compared to the consensus estimate of $320.34 million. During the same quarter last year, the firm posted $0.36 earnings per share. The firm’s revenue was up 21.5% compared to the same quarter last year. Equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.64 earnings per share for the current year.

Insider Transactions at Skyward Specialty Insurance Group

In related news, CFO Mark W. Haushill sold 35,000 shares of Skyward Specialty Insurance Group stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the transaction, the chief financial officer now directly owns 261,688 shares in the company, valued at $9,410,300.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Mark W. Haushill sold 35,000 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the transaction, the chief financial officer now directly owns 261,688 shares of the company’s stock, valued at approximately $9,410,300.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Haushill sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $35.58, for a total value of $889,500.00. Following the transaction, the chief financial officer now owns 236,688 shares of the company’s stock, valued at $8,421,359.04. The disclosure for this sale can be found here. Insiders sold 98,890 shares of company stock worth $3,533,839 in the last three months. Corporate insiders own 8.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SKWD. Truist Financial raised their price objective on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Keefe, Bruyette & Woods upped their price objective on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. JMP Securities boosted their price target on Skyward Specialty Insurance Group from $40.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Monday, April 15th. BMO Capital Markets increased their price objective on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a research report on Monday, February 26th. Finally, Piper Sandler boosted their target price on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. One 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 company. According to MarketBeat, the stock 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.