334,288 Shares in Skyward Specialty Insurance Group, Inc. $SKWD Bought by Aberdeen Group plc

Key Points

• Aberdeen Group plc acquired 334,288 shares of Skyward Specialty Insurance Group, representing a value of approximately $19.3 million, and owned about 0.83% of the company as of the last quarter.
• Institutional investors collectively own 94.83% of Skyward Specialty, with notable increased stakes from Vanguard Group and Northern Trust Corp.
• Skyward's stock received varying ratings from analysts, with an average rating of "Moderate Buy" and a price target range between $55.00 and $70.00.

Aberdeen Group plc purchased a new position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 334,288 shares of the company's stock, valued at approximately $19,319,000. Aberdeen Group plc owned about 0.83% of Skyward Specialty Insurance Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Skyward Specialty Insurance Group by 10.0% in the first quarter. Vanguard Group Inc. now owns 2,503,156 shares of the company's stock worth $132,467,000 after buying an additional 227,921 shares during the last quarter. Invesco Ltd. increased its stake in shares of Skyward Specialty Insurance Group by 0.5% in the first quarter. Invesco Ltd. now owns 1,223,229 shares of the company's stock worth $64,733,000 after buying an additional 5,900 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Skyward Specialty Insurance Group by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,094,018 shares of the company's stock valued at $57,896,000 after purchasing an additional 45,464 shares during the last quarter. Reinhart Partners LLC. increased its stake in Skyward Specialty Insurance Group by 1.5% during the second quarter. Reinhart Partners LLC. now owns 959,036 shares of the company's stock valued at $55,423,000 after purchasing an additional 14,605 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Skyward Specialty Insurance Group by 18.5% during the first quarter. Northern Trust Corp now owns 462,908 shares of the company's stock valued at $24,497,000 after purchasing an additional 72,202 shares during the last quarter. Institutional investors own 94.83% of the company's stock.

Analyst Upgrades and Downgrades

SKWD has been the subject of several recent research reports. Piper Sandler lowered their target price on shares of Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating for the company in a research note on Friday, August 1st. Janney Montgomery Scott initiated coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, October 6th. They set a "buy" rating and a $60.00 target price for the company. Wall Street Zen lowered shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. JMP Securities boosted their target price on shares of Skyward Specialty Insurance Group from $65.00 to $70.00 and gave the company a "market outperform" rating in a research note on Thursday, September 4th. Finally, BMO Capital Markets boosted their target price on shares of Skyward Specialty Insurance Group from $52.00 to $55.00 and gave the company a "market perform" rating in a research note on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $60.70.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD opened at $49.14 on Tuesday. Skyward Specialty Insurance Group, Inc. has a 1 year low of $41.28 and a 1 year high of $65.05. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 15.45 and a beta of 0.58. The firm has a fifty day moving average of $48.16 and a 200-day moving average of $53.41.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.03. Skyward Specialty Insurance Group had a net margin of 10.53% and a return on equity of 16.40%. The company had revenue of $319.90 million during the quarter, compared to the consensus estimate of $324.64 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. Analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current 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.

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