The Manufacturers Life Insurance Company Reduces Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) (2024)

The Manufacturers Life Insurance Company trimmed its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD – Free Report) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 465,811 shares of the company’s stock after selling 25,848 shares during the quarter. The Manufacturers Life Insurance Company owned 1.24% of Skyward Specialty Insurance Group worth $15,782,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in Skyward Specialty Insurance Group by 15.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 232,644 shares of the company’s stock worth $7,882,000 after buying an additional 30,746 shares during the period. Vanguard Group Inc. lifted its position in shares of Skyward Specialty Insurance Group by 109.5% during the third quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company’s stock worth $41,390,000 after purchasing an additional 790,826 shares during the last quarter. Redwood Investments LLC bought a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter worth $2,890,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Skyward Specialty Insurance Group during the third quarter worth $396,000. Finally, ClariVest Asset Management LLC bought a new stake in shares of Skyward Specialty Insurance Group during the third quarter worth $1,106,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 23,533 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $37.21, for a total value of $875,662.93. Following the transaction, the chief executive officer now owns 83,154 shares in the company, valued at $3,094,160.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Corp Westaim sold 5,060,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $36.50, for a total transaction of $184,690,000.00. Following the sale, the insider now owns 1,919,639 shares in the company, valued at $70,066,823.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew S. Robinson sold 23,533 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $37.21, for a total value of $875,662.93. Following the sale, the chief executive officer now owns 83,154 shares in the company, valued at approximately $3,094,160.34. The disclosure for this sale can be found here. Insiders have sold 5,095,277 shares of company stock worth $186,000,945 over the last quarter. Insiders own 8.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. JMP Securities lifted their target price on Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 2nd. Piper Sandler lifted their target price on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Truist Financial lifted their target price on Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Keefe, Bruyette & Woods lifted their price objective on Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Finally, BMO Capital Markets lifted their price objective on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a report on Monday, February 26th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $42.50.

Read Our Latest Report on SKWD

Skyward Specialty Insurance Group Price Performance

SKWD stock opened at $37.07 on Monday. The business has a 50-day moving average price of $36.54 and a 200 day moving average price of $34.68. The company has a market capitalization of $1.48 billion, a P/E ratio of 13.63 and a beta of 0.69. Skyward Specialty Insurance Group, Inc. has a 1-year low of $22.97 and a 1-year high of $38.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD – Get Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.09. Skyward Specialty Insurance Group had a return on equity of 15.98% and a net margin of 11.16%. The company had revenue of $264.97 million for the quarter, compared to analyst estimates of $251.66 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. On average, analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 2.78 earnings per share for the current fiscal year.

Skyward Specialty Insurance Group Company Profile

(Free Report)

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.

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