The Manufacturers Life Insurance Company acquired a new position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 20,286 shares of the company's stock, valued at approximately $1,184,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Integrated Wealth Concepts LLC grew its position in shares of Skyward Specialty Insurance Group by 30.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,285 shares of the company's stock worth $332,000 after buying an additional 1,456 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Skyward Specialty Insurance Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,096 shares of the company's stock valued at $1,169,000 after buying an additional 967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Skyward Specialty Insurance Group by 16.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,804 shares of the company's stock valued at $5,282,000 after acquiring an additional 14,217 shares in the last quarter. Jane Street Group LLC lifted its stake in Skyward Specialty Insurance Group by 286.1% in the first quarter. Jane Street Group LLC now owns 33,768 shares of the company's stock worth $1,787,000 after acquiring an additional 25,022 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Skyward Specialty Insurance Group by 5.9% in the second quarter. JPMorgan Chase & Co. now owns 106,039 shares of the company's stock worth $6,128,000 after acquiring an additional 5,913 shares during the period. 94.83% of the stock is owned by institutional investors.
Analyst Ratings Changes
SKWD has been the topic of a number of research reports. TD Cowen raised their target price on shares of Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the company a "hold" rating in a research report on Tuesday, August 11th. Texas Capital raised shares of Skyward Specialty Insurance Group to a "strong-buy" rating in a research report on Tuesday, June 9th. Capital One Financial set a $59.00 price objective on shares of Skyward Specialty Insurance Group in a research note on Tuesday, June 9th. Weiss Ratings raised shares of Skyward Specialty Insurance Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 25th. Finally, Truist Financial boosted their price objective on shares of Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $68.64.
Get Our Latest Report on Skyward Specialty Insurance Group
Insider Activity
In other news, insider Thomas Schmitt sold 8,397 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $51.32, for a total transaction of $430,934.04. Following the transaction, the insider owned 10,353 shares in the company, valued at $531,315.96. This represents a 44.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.52% of the stock is currently owned by company insiders.
Skyward Specialty Insurance Group Price Performance
Shares of SKWD stock opened at $57.34 on Friday. Skyward Specialty Insurance Group, Inc. has a 1-year low of $40.60 and a 1-year high of $65.69. The stock's fifty day moving average price is $59.58 and its 200 day moving average price is $50.95. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 13.37 and a beta of 0.33.
Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.13. The company had revenue of $489.53 million during the quarter, compared to analysts' expectations of $706.59 million. Skyward Specialty Insurance Group had a return on equity of 18.72% and a net margin of 10.84%. As a group, equities research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 4.98 earnings per share for the current year.
Skyward Specialty Insurance Group Profile
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Free Report)
Skyward Specialty Insurance Group, Inc NASDAQ: SKWD is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.
Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.
Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.
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