Ellsworth Advisors LLC Invests $676,000 in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Ellsworth Advisors LLC purchased a new position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,369 shares of the company’s stock, valued at approximately $676,000.

Several other hedge funds have also modified their holdings of SKWD. ORG Wealth Partners LLC acquired a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth about $61,000. Nordea Investment Management AB increased its stake in Skyward Specialty Insurance Group by 2.4% in the fourth quarter. Nordea Investment Management AB now owns 64,321 shares of the company’s stock valued at $3,248,000 after purchasing an additional 1,523 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Skyward Specialty Insurance Group by 32.9% during the third quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company’s stock worth $3,515,000 after purchasing an additional 21,346 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Skyward Specialty Insurance Group by 49.8% during 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 last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of 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 buying an additional 158,679 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Trading Down 0.3 %

NASDAQ:SKWD opened at $44.90 on Monday. Skyward Specialty Insurance Group, Inc. has a twelve month low of $29.40 and a twelve month high of $55.62. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.70 and a beta of 0.89. The firm’s fifty day simple moving average is $50.10 and its 200 day simple moving average is $44.03.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The business had revenue of $300.89 million during the quarter, compared to analyst estimates of $292.43 million. During the same period last year, the business earned $0.65 EPS. On average, analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Barclays lifted 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 research note on Monday, January 6th. JMP Securities upped their price objective on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. TD Cowen began coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a “hold” rating and a $43.00 target price on the stock. Jefferies Financial Group upped their price target on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Raymond James lifted their price objective on shares of 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. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.22.

Insider Activity at Skyward Specialty Insurance Group

In related news, CEO Andrew S. Robinson sold 6,010 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total value of $296,713.70. Following the sale, the chief executive officer now directly owns 77,144 shares in the company, valued at $3,808,599.28. This trade represents a 7.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas N. Schmitt sold 546 shares of Skyward Specialty Insurance Group stock in a transaction on Monday, January 6th. The shares were sold at an average price of $46.85, for a total value of $25,580.10. Following the sale, the insider now directly owns 10,246 shares in the company, valued at $480,025.10. The trade was a 5.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,318 shares of company stock valued at $2,098,866 over the last three months. 8.01% of the stock is owned by insiders.

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.