Emerald Advisers LLC Cuts Stock Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Emerald Advisers LLC decreased its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 5.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 823,404 shares of the company’s stock after selling 51,177 shares during the period. Skyward Specialty Insurance Group comprises approximately 1.6% of Emerald Advisers LLC’s portfolio, making the stock its 10th biggest holding. Emerald Advisers LLC’s holdings in Skyward Specialty Insurance Group were worth $41,615,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company’s stock worth $114,990,000 after purchasing an additional 16,572 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Skyward Specialty Insurance Group by 20.3% in the fourth quarter. LPL Financial LLC now owns 14,093 shares of the company’s stock worth $712,000 after purchasing an additional 2,378 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth approximately $379,000. American Century Companies Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 54.0% in the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock worth $79,744,000 after purchasing an additional 553,389 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of Skyward Specialty Insurance Group by 432.5% in the fourth quarter. Teacher Retirement System of Texas now owns 142,421 shares of the company’s stock worth $7,198,000 after purchasing an additional 115,674 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Trading Down 0.2 %

Shares of Skyward Specialty Insurance Group stock opened at $49.75 on Friday. The firm has a market capitalization of $2.00 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.81 and a beta of 0.67. The business has a fifty day simple moving average of $47.85 and a two-hundred day simple moving average of $47.16. Skyward Specialty Insurance Group, Inc. has a 12 month low of $33.27 and a 12 month high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $304.40 million during the quarter, compared to analyst estimates of $295.56 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. Analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SKWD. Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Keefe, Bruyette & Woods lifted their price target on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 28th. TD Cowen began coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a “hold” rating and a $43.00 price target on the stock. Finally, Piper Sandler cut their price target on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Three 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, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $56.25.

Insider Transactions at Skyward Specialty Insurance Group

In other news, CEO Andrew S. Robinson sold 6,010 shares of Skyward Specialty Insurance Group stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total value of $296,713.70. Following the completion of the transaction, the chief executive officer now owns 77,144 shares of the company’s stock, valued at $3,808,599.28. The trade was a 7.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John A. Burkhart III sold 4,832 shares of Skyward Specialty Insurance Group stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.24, for a total value of $242,759.68. Following the completion of the transaction, the insider now directly owns 17,655 shares of the company’s stock, valued at approximately $886,987.20. This represents a 21.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,450 shares of company stock valued at $1,369,342 in the last quarter. 8.01% of the stock is owned by 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.