WCM Investment Management LLC Purchases Shares of 361,389 Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

WCM Investment Management LLC acquired a new position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 361,389 shares of the company’s stock, valued at approximately $18,084,000. WCM Investment Management LLC owned approximately 0.90% of Skyward Specialty Insurance Group as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SKWD. Swedbank AB acquired a new position in Skyward Specialty Insurance Group in the fourth quarter valued at approximately $15,164,000. 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. Phase 2 Partners LLC purchased a new position in shares of Skyward Specialty Insurance Group in the 3rd quarter valued at $5,680,000. Rockefeller Capital Management L.P. raised its stake in Skyward Specialty Insurance Group by 78.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 304,500 shares of the company’s stock worth $12,402,000 after acquiring an additional 133,855 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Skyward Specialty Insurance Group by 12.9% during the 3rd quarter. Victory Capital Management Inc. now owns 743,073 shares of the company’s stock worth $30,265,000 after acquiring an additional 84,623 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Price Performance

SKWD stock opened at $48.52 on Friday. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.81 and a beta of 0.83. Skyward Specialty Insurance Group, Inc. has a 1-year low of $29.76 and a 1-year high of $55.62. The firm has a fifty day moving average price of $48.07 and a two-hundred day moving average price of $44.77.

Wall Street Analyst Weigh In

SKWD has been the topic of several research analyst reports. Barclays lifted their price target on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a “hold” rating and a $43.00 target price on the stock. Piper Sandler decreased their price target on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday. 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 note on Tuesday, November 5th. Finally, JMP Securities increased their target price on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.67.

Insiders Place Their Bets

In related news, Director James Charles Hays sold 25,000 shares of Skyward Specialty Insurance Group stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total value of $1,350,000.00. Following the transaction, the director now owns 747,261 shares of the company’s stock, valued at approximately $40,352,094. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sandip A. Kapadia sold 908 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $46.98, for a total transaction of $42,657.84. Following the sale, the executive vice president now directly owns 10,371 shares in the company, valued at approximately $487,229.58. This trade represents a 8.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,318 shares of company stock worth $2,098,866. 8.01% of the stock is owned by company insiders.

About Skyward Specialty Insurance Group

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.