Deutsche Bank AG Grows Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Deutsche Bank AG raised its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 433,331 shares of the company’s stock after buying an additional 18,209 shares during the quarter. Deutsche Bank AG owned about 1.08% of Skyward Specialty Insurance Group worth $21,901,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Skyward Specialty Insurance Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company’s stock valued at $114,990,000 after acquiring an additional 16,572 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Skyward Specialty Insurance Group by 54.0% in the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock worth $79,744,000 after purchasing an additional 553,389 shares during the period. Invesco Ltd. boosted its stake in shares of Skyward Specialty Insurance Group by 9.1% during the 4th quarter. Invesco Ltd. now owns 1,217,329 shares of the company’s stock valued at $61,524,000 after purchasing an additional 102,042 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Skyward Specialty Insurance Group by 4.2% during the fourth quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company’s stock valued at $58,860,000 after buying an additional 47,363 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Skyward Specialty Insurance Group by 37.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company’s stock valued at $52,995,000 after buying an additional 283,749 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, insider John A. Burkhart III sold 4,832 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.24, for a total value of $242,759.68. Following the completion of the transaction, the insider now owns 17,655 shares of the company’s stock, valued at approximately $886,987.20. The trade was a 21.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gena L. Ashe sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.62, for a total transaction of $50,620.00. Following the transaction, the director now owns 734 shares in the company, valued at $37,155.08. This represents a 57.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,132 shares of company stock valued at $620,476. Corporate insiders own 8.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SKWD shares. Citigroup reaffirmed an “outperform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. Piper Sandler lifted their price target on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods increased their price objective on Skyward Specialty Insurance Group from $57.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. JMP Securities raised their price objective on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research report on Friday, May 2nd. Finally, Barclays upped their target price on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and an average price target of $61.13.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD stock opened at $61.03 on Thursday. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 0.81 and a beta of 0.64. Skyward Specialty Insurance Group, Inc. has a one year low of $33.42 and a one year high of $62.00. The company’s 50-day moving average is $53.27 and its 200 day moving average is $50.37.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The firm had revenue of $328.53 million for the quarter, compared to analysts’ expectations of $310.94 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. As a group, research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

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.