Victory Capital Management Inc. Sells 55,707 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Victory Capital Management Inc. lessened its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 687,366 shares of the company’s stock after selling 55,707 shares during the period. Victory Capital Management Inc. owned approximately 1.71% of Skyward Specialty Insurance Group worth $34,739,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Quarry LP lifted its stake in Skyward Specialty Insurance Group by 176.9% in the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after acquiring an additional 879 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in Skyward Specialty Insurance Group in the 4th quarter valued at approximately $61,000. Pinnacle Financial Partners Inc bought a new stake in Skyward Specialty Insurance Group in the 4th quarter valued at approximately $220,000. Kirr Marbach & Co. LLC IN bought a new stake in Skyward Specialty Insurance Group in the 4th quarter valued at approximately $252,000. Finally, FORA Capital LLC bought a new stake in Skyward Specialty Insurance Group in the 3rd quarter valued at approximately $256,000. Institutional investors own 94.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on SKWD. JMP Securities restated a “market outperform” rating and issued a $60.00 target price on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Wolfe Research restated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. TD Cowen began coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a “hold” rating and a $43.00 target price on the stock. Truist Financial boosted their price target on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Keefe, Bruyette & Woods boosted their price target on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.00.

Insider Buying and Selling

In related news, insider Thomas N. Schmitt sold 6,300 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $51.92, for a total value of $327,096.00. Following the completion of the sale, the insider now directly owns 3,946 shares in the company, valued at $204,876.32. The trade was a 61.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew S. Robinson sold 6,010 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total value of $296,713.70. Following the completion of the sale, the chief executive officer now owns 77,144 shares of the company’s stock, valued at $3,808,599.28. This trade represents a 7.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,618 shares of company stock valued at $1,075,962. 8.01% of the stock is owned by insiders.

Skyward Specialty Insurance Group Trading Down 3.1 %

SKWD stock opened at $48.03 on Monday. The firm has a market capitalization of $1.93 billion, a PE ratio of 14.64, a PEG ratio of 0.81 and a beta of 0.67. Skyward Specialty Insurance Group, Inc. has a 1-year low of $33.27 and a 1-year high of $55.62. The business’s 50 day simple moving average is $47.49 and its 200 day simple moving average is $46.59.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $304.40 million for 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%. As a group, sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

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.