Moran Wealth Management LLC Invests $477,000 in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Moran Wealth Management LLC bought a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,447 shares of the company’s stock, valued at approximately $477,000.

A number of other large investors have also recently bought and sold shares of SKWD. WCM Investment Management LLC purchased a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at $18,084,000. Swedbank AB purchased a new stake in Skyward Specialty Insurance Group in the 4th quarter worth approximately $15,164,000. Franklin Resources Inc. raised its holdings in Skyward Specialty Insurance Group by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock valued at $45,506,000 after acquiring an additional 158,679 shares during the last quarter. Phase 2 Partners LLC purchased a new position in shares of Skyward Specialty Insurance Group during the 3rd quarter worth $5,680,000. Finally, Rockefeller Capital Management L.P. increased its stake in Skyward Specialty Insurance Group by 78.4% in the third quarter. Rockefeller Capital Management L.P. now owns 304,500 shares of the company’s stock valued at $12,402,000 after purchasing an additional 133,855 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Barclays lifted their price target on 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. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Wolfe Research restated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Keefe, Bruyette & Woods increased their target price on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Finally, TD Cowen began coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a “hold” rating and a $43.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD opened at $48.47 on Thursday. Skyward Specialty Insurance Group, Inc. has a 12 month low of $33.27 and a 12 month high of $55.62. The stock has a market cap of $1.95 billion, a PE ratio of 14.78, a P/E/G ratio of 0.81 and a beta of 0.66. The stock’s 50-day moving average is $47.35 and its two-hundred day moving average is $46.72.

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

Insider Buying and Selling

In related news, insider Thomas N. Schmitt sold 637 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $47.81, for a total value of $30,454.97. Following the transaction, the insider now owns 10,792 shares in the company, valued at approximately $515,965.52. The trade was a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sandip A. Kapadia sold 4,347 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, 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. Insiders have sold 27,450 shares of company stock valued at $1,369,342 in the last quarter. Company insiders own 8.01% of the company’s stock.

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.