Bank of New York Mellon Corp Acquires 12,391 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Bank of New York Mellon Corp raised its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 11.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,402 shares of the company’s stock after acquiring an additional 12,391 shares during the quarter. Bank of New York Mellon Corp’s holdings in Skyward Specialty Insurance Group were worth $6,186,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SKWD. Quarry LP raised its stake in Skyward Specialty Insurance Group by 176.9% in the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after purchasing an additional 879 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in Skyward Specialty Insurance Group during the 4th quarter worth approximately $61,000. Pinnacle Financial Partners Inc acquired a new stake in Skyward Specialty Insurance Group during the 4th quarter worth approximately $220,000. Kirr Marbach & Co. LLC IN acquired a new stake in Skyward Specialty Insurance Group during the 4th quarter worth approximately $252,000. Finally, FORA Capital LLC acquired a new position in shares of Skyward Specialty Insurance Group in the 3rd quarter worth approximately $256,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SKWD. Keefe, Bruyette & Woods boosted their target price on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Piper Sandler reduced their target price on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. TD Cowen began coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a “hold” rating and a $43.00 target price for the company. Truist Financial increased their price target on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $60.00 target price on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and a consensus target price of $56.25.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, EVP Sandip A. Kapadia sold 4,347 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $49.51, for a total transaction of $215,219.97. Following the transaction, the executive vice president now owns 12,508 shares in the company, valued at approximately $619,271.08. This represents a 25.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John A. Burkhart III sold 4,832 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.24, for a total transaction of $242,759.68. Following the transaction, the insider now owns 17,655 shares in the company, valued at $886,987.20. This represents a 21.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,450 shares of company stock worth $1,369,342 in the last quarter. Corporate insiders own 8.01% of the company’s stock.

Skyward Specialty Insurance Group Trading Up 5.1 %

Shares of Skyward Specialty Insurance Group stock opened at $49.78 on Monday. The company’s fifty day simple moving average is $47.38 and its two-hundred day simple moving average is $46.89. The company has a market cap of $2.00 billion, a P/E ratio of 15.18, a PEG ratio of 0.81 and a beta of 0.67. Skyward Specialty Insurance Group, Inc. has a 12-month low of $33.27 and a 12-month high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The firm had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $295.56 million. Analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

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.