Emerald Advisers LLC Has $41.62 Million Stock Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Emerald Advisers LLC lowered its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 823,404 shares of the company’s stock after selling 51,177 shares during the quarter. Skyward Specialty Insurance Group makes up approximately 1.6% of Emerald Advisers LLC’s portfolio, making the stock its 10th largest holding. Emerald Advisers LLC owned about 2.05% of Skyward Specialty Insurance Group worth $41,615,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Skyward Specialty Insurance Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company’s stock valued at $114,990,000 after purchasing an additional 16,572 shares during the last quarter. American Century Companies Inc. lifted its holdings in Skyward Specialty Insurance Group by 54.0% during the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock valued at $79,744,000 after purchasing an additional 553,389 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Skyward Specialty Insurance Group by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock valued at $45,506,000 after purchasing an additional 158,679 shares during the last quarter. State Street Corp lifted its holdings in Skyward Specialty Insurance Group by 10.8% during the third quarter. State Street Corp now owns 844,233 shares of the company’s stock valued at $34,386,000 after purchasing an additional 82,328 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in Skyward Specialty Insurance Group by 15.3% during the third quarter. Two Sigma Advisers LP now owns 490,200 shares of the company’s stock valued at $19,966,000 after purchasing an additional 65,200 shares during the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Skyward Specialty Insurance Group

In related news, CEO Andrew S. Robinson sold 6,010 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas N. Schmitt sold 637 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $47.81, for a total transaction of $30,454.97. Following the transaction, the insider now owns 10,792 shares in the company, valued at $515,965.52. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,450 shares of company stock valued at $1,369,342 over the last three months. 8.01% of the stock is owned by corporate insiders.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD opened at $49.75 on Friday. The firm’s 50 day simple moving average is $47.85 and its 200 day simple moving average is $47.16. The company 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. Skyward Specialty Insurance Group, Inc. has a 1-year low of $33.27 and a 1-year high of $55.62.

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

Wall Street Analysts Forecast Growth

SKWD has been the topic of several recent research reports. Barclays raised shares of Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $53.00 to $63.00 in a report on Friday, March 14th. 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. Keefe, Bruyette & Woods increased their price target on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. JMP Securities reissued 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. Finally, Piper Sandler lowered 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 investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $56.25.

Skyward Specialty Insurance Group 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.