Ashton Thomas Private Wealth LLC Takes $230,000 Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Ashton Thomas Private Wealth LLC acquired a new stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 4,542 shares of the company’s stock, valued at approximately $230,000.

A number of other hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in Skyward Specialty Insurance Group by 49.8% in the 3rd quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock worth $4,240,000 after buying an additional 34,612 shares during the period. Chartwell Investment Partners LLC boosted its holdings in Skyward Specialty Insurance Group by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 38,037 shares of the company’s stock worth $1,549,000 after buying an additional 306 shares during the period. Victory Capital Management Inc. boosted its holdings in Skyward Specialty Insurance Group by 12.9% in the 3rd quarter. Victory Capital Management Inc. now owns 743,073 shares of the company’s stock worth $30,265,000 after buying an additional 84,623 shares during the period. Royce & Associates LP bought a new position in Skyward Specialty Insurance Group in the 3rd quarter worth $2,690,000. Finally, Jennison Associates LLC boosted its holdings in Skyward Specialty Insurance Group by 1.0% in the 3rd quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock worth $52,786,000 after buying an additional 12,484 shares during the period. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Trading Up 2.5 %

Shares of NASDAQ SKWD opened at $48.46 on Wednesday. The firm’s 50-day moving average price is $47.39 and its 200-day moving average price is $46.71. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 0.81 and a beta of 0.66. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $304.40 million for 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, equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Insider Activity

In other news, CEO Andrew S. Robinson sold 6,010 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total transaction of $296,713.70. Following the sale, the chief executive officer now directly owns 77,144 shares in the company, valued at approximately $3,808,599.28. This represents a 7.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gena L. Ashe sold 1,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.62, for a total transaction of $50,620.00. Following the completion of the sale, the director now directly owns 734 shares in the company, valued at $37,155.08. This trade represents a 57.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,450 shares of company stock worth $1,369,342. 8.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SKWD has been the subject of several recent analyst reports. TD Cowen initiated coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a “hold” rating and a $43.00 target price for the company. Wolfe Research reaffirmed a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Truist Financial upped their target price on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Barclays increased their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Piper Sandler dropped their price objective on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.00.

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.