Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock Position Cut by Legato Capital Management LLC

Legato Capital Management LLC trimmed its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,090 shares of the company’s stock after selling 955 shares during the quarter. Legato Capital Management LLC’s holdings in Skyward Specialty Insurance Group were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Skyward Specialty Insurance Group by 109.5% during the third quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company’s stock worth $41,390,000 after purchasing an additional 790,826 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Skyward Specialty Insurance Group by 35.2% in the 3rd quarter. Jennison Associates LLC now owns 1,356,301 shares of the company’s stock worth $37,108,000 after acquiring an additional 352,971 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of Skyward Specialty Insurance Group by 129.9% during the second quarter. Westwood Holdings Group Inc. now owns 1,328,232 shares of the company’s stock worth $33,737,000 after purchasing an additional 750,374 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in shares of Skyward Specialty Insurance Group during the first quarter valued at $26,911,000. Finally, Ameriprise Financial Inc. boosted its position in shares of Skyward Specialty Insurance Group by 205.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 787,893 shares of the company’s stock valued at $21,557,000 after purchasing an additional 530,045 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SKWD has been the topic of several recent analyst reports. Truist Financial boosted their price objective on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. BMO Capital Markets lifted their price objective on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, February 26th. JMP Securities boosted their target price on shares of Skyward Specialty Insurance Group from $38.00 to $40.00 and gave the company a “market outperform” rating in a research note on Wednesday, February 21st. Raymond James raised their target price on Skyward Specialty Insurance Group from $36.00 to $40.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, December 12th. Finally, Keefe, Bruyette & Woods lifted their price target on Skyward Specialty Insurance Group from $41.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of “Buy” and a consensus price target of $38.44.

Skyward Specialty Insurance Group Stock Down 2.6 %

SKWD stock opened at $35.87 on Monday. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 16.01 and a beta of 0.48. The firm has a 50 day moving average of $33.73 and a two-hundred day moving average of $31.45. Skyward Specialty Insurance Group, Inc. has a 12 month low of $19.49 and a 12 month high of $37.26.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, February 20th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05. The company had revenue of $321.60 million for the quarter, compared to analyst estimates of $320.34 million. Skyward Specialty Insurance Group had a return on equity of 15.27% and a net margin of 9.56%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. On average, research analysts expect that Skyward Specialty Insurance Group, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 13,407 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $35.63, for a total transaction of $477,691.41. Following the transaction, the chief executive officer now owns 61,126 shares in the company, valued at $2,177,919.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Andrew S. Robinson sold 13,374 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total transaction of $477,451.80. Following the completion of the transaction, the chief executive officer now owns 96,883 shares of the company’s stock, valued at approximately $3,458,723.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew S. Robinson sold 13,407 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $35.63, for a total value of $477,691.41. Following the completion of the sale, the chief executive officer now directly owns 61,126 shares in the company, valued at approximately $2,177,919.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,890 shares of company stock worth $3,533,839.

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.