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

Principal Financial Group Inc. bought a new position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 44,689 shares of the company’s stock, valued at approximately $1,672,000. Principal Financial Group Inc. owned 0.11% of Skyward Specialty Insurance Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Wasatch Advisors LP raised its holdings in Skyward Specialty Insurance Group by 5.9% in the first quarter. Wasatch Advisors LP now owns 276,494 shares of the company’s stock worth $10,344,000 after purchasing an additional 15,407 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Skyward Specialty Insurance Group by 19.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 464,667 shares of the company’s stock worth $17,383,000 after acquiring an additional 75,137 shares in the last quarter. Diversified Trust Co increased its position in shares of Skyward Specialty Insurance Group by 26.3% during the first quarter. Diversified Trust Co now owns 11,775 shares of the company’s stock worth $441,000 after acquiring an additional 2,450 shares in the last quarter. Quadrature Capital Ltd increased its position in shares of Skyward Specialty Insurance Group by 15.5% during the fourth quarter. Quadrature Capital Ltd now owns 46,504 shares of the company’s stock worth $1,576,000 after acquiring an additional 6,232 shares in the last quarter. Finally, Ghisallo Capital Management LLC increased its position in shares of Skyward Specialty Insurance Group by 50.0% during the fourth quarter. Ghisallo Capital Management LLC now owns 150,000 shares of the company’s stock worth $5,082,000 after acquiring an additional 50,000 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Andrew S. Robinson sold 23,533 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $37.21, for a total value of $875,662.93. Following the completion of the transaction, the chief executive officer now owns 83,154 shares of the company’s stock, valued at approximately $3,094,160.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Andrew S. Robinson sold 23,533 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $37.21, for a total transaction of $875,662.93. Following the completion of the sale, the chief executive officer now owns 83,154 shares in the company, valued at approximately $3,094,160.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Corp Westaim sold 5,060,000 shares of the firm’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 of the company’s stock, valued at approximately $70,066,823.50. The disclosure for this sale can be found here. Insiders sold a total of 5,095,277 shares of company stock valued at $186,000,945 in the last quarter. Company insiders own 8.01% of the company’s stock.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock traded down $0.54 during mid-day trading on Friday, reaching $35.30. The company’s stock had a trading volume of 37,434 shares, compared to its average volume of 366,215. The business’s 50 day simple moving average is $36.10 and its 200 day simple moving average is $35.01. Skyward Specialty Insurance Group, Inc. has a 12 month low of $22.97 and a 12 month high of $39.16. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 13.18 and a beta of 0.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. Skyward Specialty Insurance Group had a net margin of 11.16% and a return on equity of 15.98%. The company had revenue of $264.97 million during the quarter, compared to the consensus estimate of $251.66 million. During the same quarter last year, the firm posted $0.42 EPS. As a group, sell-side analysts expect that Skyward Specialty Insurance Group, Inc. will post 2.78 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JMP Securities increased their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $47.00 and gave the stock a “market outperform” rating in a research report on Monday. Truist Financial increased their price objective on shares of 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. Piper Sandler increased their price objective on shares of 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. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $42.75.

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.