Y Intercept Hong Kong Ltd Takes Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Y Intercept Hong Kong Ltd bought a new stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) in the 4th quarter, HoldingsChannel.com reports. The firm bought 17,417 shares of the company’s stock, valued at approximately $880,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arcadia Investment Management Corp MI purchased a new position in shares of Skyward Specialty Insurance Group during the 3rd quarter valued at approximately $41,000. ORG Wealth Partners LLC acquired a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter valued at approximately $61,000. Quarry LP raised its position in shares of Skyward Specialty Insurance Group by 176.9% during the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after acquiring an additional 879 shares in the last quarter. Pinnacle Financial Partners Inc acquired a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter valued at approximately $220,000. Finally, Kirr Marbach & Co. LLC IN acquired a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter valued at approximately $252,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director James Charles Hays sold 25,000 shares of the firm’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 trade represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Haushill sold 1,630 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $49.06, for a total value of $79,967.80. Following the transaction, the chief financial officer now directly owns 176,971 shares in the company, valued at $8,682,197.26. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,318 shares of company stock valued at $2,098,866. Company insiders own 8.01% of the company’s stock.

Wall Street Analyst Weigh In

SKWD has been the topic of several research reports. Raymond James upped their price target on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 5th. Barclays upped their price target on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. JMP Securities reissued a “market outperform” rating and set a $60.00 price target on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. Keefe, Bruyette & Woods upped their price target on Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, 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 research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ SKWD opened at $52.21 on Friday. Skyward Specialty Insurance Group, Inc. has a 1-year low of $33.27 and a 1-year high of $55.62. The business’s fifty day moving average price is $47.42 and its two-hundred day moving average price is $45.87. The firm has a market capitalization of $2.09 billion, a PE ratio of 15.92, a P/E/G ratio of 0.81 and a beta of 0.83.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly 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. The company had revenue of $304.40 million for the quarter, compared to analyst estimates of $295.56 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. Equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Skyward Specialty Insurance Group Company 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.