Principal Financial Group Inc. Purchases 34,612 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Principal Financial Group Inc. boosted its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 49.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 104,105 shares of the company’s stock after purchasing an additional 34,612 shares during the period. Principal Financial Group Inc.’s holdings in Skyward Specialty Insurance Group were worth $4,240,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SKWD. Franklin Resources Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 16.6% during the 3rd 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. Barclays PLC grew its stake in shares of Skyward Specialty Insurance Group by 277.7% during the third quarter. Barclays PLC now owns 64,032 shares of the company’s stock valued at $2,608,000 after buying an additional 47,081 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new position in shares of Skyward Specialty Insurance Group in the third quarter worth about $297,000. XTX Topco Ltd bought a new stake in shares of Skyward Specialty Insurance Group in the 3rd quarter valued at about $394,000. Finally, Two Sigma Advisers LP boosted its holdings in Skyward Specialty Insurance Group by 15.3% during the 3rd quarter. Two Sigma Advisers LP now owns 490,200 shares of the company’s stock valued at $19,966,000 after acquiring an additional 65,200 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Price Performance

SKWD stock opened at $49.05 on Friday. Skyward Specialty Insurance Group, Inc. has a 1 year low of $29.40 and a 1 year high of $55.62. The firm has a 50-day moving average of $50.21 and a 200 day moving average of $43.17. The company has a market cap of $1.97 billion, a P/E ratio of 14.95, a PEG ratio of 0.95 and a beta of 0.76.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its 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. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The firm had revenue of $300.89 million during the quarter, compared to analyst estimates of $292.43 million. During the same quarter in the prior year, the company earned $0.65 EPS. On average, equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, Director James Charles Hays sold 25,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total value of $1,350,000.00. Following the sale, the director now owns 747,261 shares in the company, valued at approximately $40,352,094. This represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.01% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SKWD shares. Barclays lifted their price target on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Raymond James upped their price target on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 5th. Jefferies Financial Group raised their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, JMP Securities upped their price objective on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Three equities research 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 data from MarketBeat.com, the stock 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.