Janus Henderson Group PLC Reduces Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Janus Henderson Group PLC cut its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 4.4% during the third quarter, HoldingsChannel reports. The firm owned 36,444 shares of the company’s stock after selling 1,697 shares during the quarter. Janus Henderson Group PLC’s holdings in Skyward Specialty Insurance Group were worth $1,484,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Skyward Specialty Insurance Group in the 2nd quarter worth about $1,601,000. HMS Capital Management LLC purchased a new position in shares of Skyward Specialty Insurance Group during the second quarter valued at approximately $379,000. Calamos Advisors LLC boosted its position in shares of Skyward Specialty Insurance Group by 23.4% during the second quarter. Calamos Advisors LLC now owns 26,804 shares of the company’s stock valued at $970,000 after buying an additional 5,083 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Skyward Specialty Insurance Group by 18.8% during the second 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. Finally, Allspring Global Investments Holdings LLC raised its holdings 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 worth $18,661,000 after buying an additional 51,107 shares during the period. 94.83% of the stock is owned by institutional investors.

Insider Activity

In other 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 transaction of $1,350,000.00. Following the transaction, the director now directly owns 747,261 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Company insiders own 8.01% of the company’s stock.

Skyward Specialty Insurance Group Stock Up 0.8 %

Skyward Specialty Insurance Group stock opened at $52.15 on Friday. Skyward Specialty Insurance Group, Inc. has a twelve month low of $29.40 and a twelve month high of $55.62. The business has a fifty day moving average of $48.69 and a two-hundred day moving average of $41.81. The firm has a market cap of $2.09 billion, a P/E ratio of 15.90, a P/E/G ratio of 0.93 and a beta of 0.76.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $300.89 million for the quarter, compared to the consensus estimate of $292.43 million. During the same quarter last year, the company earned $0.65 earnings per share. Equities analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on SKWD shares. William Blair started coverage on Skyward Specialty Insurance Group in a research report on Monday, August 19th. They issued an “outperform” rating on the stock. JMP Securities upped their price target on shares of 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. Jefferies Financial Group lifted their price objective 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. Raymond James upped 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 note on Tuesday, November 5th. Finally, Barclays lifted their price target on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and an average target price of $46.89.

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.