Geode Capital Management LLC Sells 29,152 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Geode Capital Management LLC decreased its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 3.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 863,755 shares of the company’s stock after selling 29,152 shares during the quarter. Geode Capital Management LLC’s holdings in Skyward Specialty Insurance Group were worth $35,187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp grew its stake in Skyward Specialty Insurance Group by 18.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 139,996 shares of the company’s stock valued at $5,065,000 after buying an additional 22,126 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Skyward Specialty Insurance Group by 11.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 515,774 shares of the company’s stock valued at $18,661,000 after purchasing an additional 51,107 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Skyward Specialty Insurance Group by 67.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock worth $204,000 after purchasing an additional 2,270 shares during the period. Principal Financial Group Inc. lifted its position in shares of Skyward Specialty Insurance Group by 55.5% during the 2nd quarter. Principal Financial Group Inc. now owns 69,493 shares of the company’s stock worth $2,514,000 after purchasing an additional 24,804 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Skyward Specialty Insurance Group by 38.0% during the 2nd quarter. Rhumbline Advisers now owns 54,958 shares of the company’s stock valued at $1,988,000 after purchasing an additional 15,126 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Director James Charles Hays sold 25,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total value of $1,350,000.00. Following the sale, the director now directly owns 747,261 shares in the company, valued at $40,352,094. This represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.01% of the stock is currently owned by insiders.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD opened at $51.04 on Thursday. The company has a 50-day moving average of $49.77 and a 200-day moving average of $42.62. Skyward Specialty Insurance Group, Inc. has a 52 week low of $29.40 and a 52 week high of $55.62. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 0.95 and a beta of 0.76.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.06. The firm had revenue of $300.89 million during the quarter, compared to analyst estimates of $292.43 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same quarter in the prior year, the business posted $0.65 earnings per share. Sell-side analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JMP Securities lifted their price target on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Raymond James boosted their target price on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 5th. Jefferies Financial Group increased their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Barclays boosted their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $46.89.

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.