Raymond James Financial Inc. Makes New Investment in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Raymond James Financial Inc. acquired a new stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 63,138 shares of the company’s stock, valued at approximately $3,191,000.

Several other institutional investors also recently bought and sold shares of SKWD. Franklin Resources Inc. increased its holdings in shares of Skyward Specialty Insurance Group by 16.6% in the third 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. State Street Corp boosted its position in shares of Skyward Specialty Insurance Group by 10.8% during the third quarter. State Street Corp now owns 844,233 shares of the company’s stock worth $34,386,000 after buying an additional 82,328 shares during the period. 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. WCM Investment Management LLC purchased a new stake in Skyward Specialty Insurance Group during the 4th quarter worth approximately $18,084,000. Finally, The Manufacturers Life Insurance Company grew its stake in Skyward Specialty Insurance Group by 0.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 336,882 shares of the company’s stock worth $13,721,000 after purchasing an additional 1,032 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Price Performance

NASDAQ SKWD opened at $53.16 on Friday. Skyward Specialty Insurance Group, Inc. has a 1 year low of $33.27 and a 1 year high of $55.62. The company has a market capitalization of $2.13 billion, a PE ratio of 16.21, a P/E/G ratio of 0.81 and a beta of 0.67. The company has a fifty day moving average of $48.56 and a two-hundred day moving average of $47.46.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The company had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $295.56 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. On average, research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Insider Activity

In related news, insider Thomas N. Schmitt sold 637 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $47.81, for a total transaction of $30,454.97. Following the completion of the transaction, the insider now directly owns 10,792 shares in the company, valued at $515,965.52. The trade was a 5.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sandip A. Kapadia sold 4,347 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $49.51, for a total value of $215,219.97. Following the sale, the executive vice president now owns 12,508 shares in the company, valued at approximately $619,271.08. This trade represents a 25.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 27,450 shares of company stock worth $1,369,342. Company insiders own 8.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SKWD shares. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 target price on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a “hold” rating and a $43.00 price objective on the stock. Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Piper Sandler dropped their target price on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Truist Financial lifted their price target on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Three 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.25.

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.