Nordea Investment Management AB Grows Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Nordea Investment Management AB raised its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,321 shares of the company’s stock after buying an additional 1,523 shares during the period. Nordea Investment Management AB owned approximately 0.16% of Skyward Specialty Insurance Group worth $3,248,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SKWD. Amalgamated Bank boosted its holdings in Skyward Specialty Insurance Group by 27.7% in the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock valued at $46,000 after purchasing an additional 279 shares during the last quarter. Chartwell Investment Partners LLC boosted its stake in shares of Skyward Specialty Insurance Group by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 38,037 shares of the company’s stock valued at $1,549,000 after buying an additional 306 shares during the last quarter. IHT Wealth Management LLC grew its position in shares of Skyward Specialty Insurance Group by 4.6% during the third quarter. IHT Wealth Management LLC now owns 10,501 shares of the company’s stock worth $428,000 after buying an additional 464 shares in the last quarter. Quarry LP increased its stake in shares of Skyward Specialty Insurance Group by 176.9% in the third quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after buying an additional 879 shares during the last quarter. Finally, Arcadia Investment Management Corp MI acquired a new stake in Skyward Specialty Insurance Group in the third quarter valued at $41,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Jefferies Financial Group raised their price objective 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. Barclays lifted their price target on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. JMP Securities increased their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Finally, Raymond James boosted their price target on 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. Three investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.78.

Insiders Place Their Bets

In other news, Director James Charles Hays sold 25,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 747,261 shares in the company, valued at $40,352,094. This trade represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sandip A. Kapadia sold 908 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $46.98, for a total transaction of $42,657.84. Following the transaction, the executive vice president now owns 10,371 shares in the company, valued at $487,229.58. This represents a 8.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,318 shares of company stock worth $2,098,866. 8.01% of the stock is owned by company insiders.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock opened at $42.51 on Friday. The firm has a market capitalization of $1.70 billion, a P/E ratio of 12.96, a P/E/G ratio of 0.95 and a beta of 0.89. The company has a 50-day simple moving average of $50.27 and a 200-day simple moving average of $43.64. Skyward Specialty Insurance Group, Inc. has a one year low of $29.40 and a one year high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. The company had revenue of $300.89 million for 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 last year, the business earned $0.65 earnings per share. As a group, sell-side analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current 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.