Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 16.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,117,257 shares of the company’s stock after purchasing an additional 158,679 shares during the period. Franklin Resources Inc. owned approximately 2.79% of Skyward Specialty Insurance Group worth $45,506,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in Skyward Specialty Insurance Group by 49.8% during the third quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock worth $4,240,000 after purchasing an additional 34,612 shares during the period. Marshall Wace LLP purchased a new position in Skyward Specialty Insurance Group during the second quarter worth approximately $10,152,000. Navellier & Associates Inc. purchased a new position in Skyward Specialty Insurance Group during the third quarter worth approximately $1,051,000. American Century Companies Inc. raised its stake in Skyward Specialty Insurance Group by 9.2% during the second quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock worth $33,269,000 after purchasing an additional 77,354 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Skyward Specialty Insurance Group by 11.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 515,774 shares of the company’s stock worth $18,661,000 after purchasing an additional 51,107 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Insider Buying and Selling

In other news, Director James Charles Hays sold 25,000 shares of Skyward Specialty Insurance Group stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total value of $1,350,000.00. Following the completion of the transaction, the director now directly owns 747,261 shares of the company’s stock, valued at approximately $40,352,094. The trade was a 3.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.01% of the stock is currently owned by insiders.

Skyward Specialty Insurance Group Price Performance

Skyward Specialty Insurance Group stock opened at $51.51 on Wednesday. Skyward Specialty Insurance Group, Inc. has a 12-month low of $29.40 and a 12-month high of $55.62. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 0.95 and a beta of 0.76. The firm’s fifty day moving average price is $49.07 and its 200 day moving average price is $42.09.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $300.89 million for the quarter, compared to the consensus estimate of $292.43 million. During the same quarter in the previous year, the firm posted $0.65 EPS. Analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

SKWD has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price target on shares of 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. JMP Securities raised their target price on shares of 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. Barclays raised their target price on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Raymond James raised their target price on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 5th. Three investment 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.89.

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.