Bank of New York Mellon Corp Takes $8.13 Million Position in Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Bank of New York Mellon acquired 139,328 shares of Skyward Specialty Insurance Group worth approximately $8.13 million, while institutional investors and hedge funds collectively own 94.83% of the company.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $68.64; several firms recently raised targets to $75.
• Skyward reported quarterly EPS of $1.30, beating estimates by $0.13. The stock opened at $58.09, with a $2.58 billion market capitalization and a 52-week range of $40.60 to $65.69.

Bank of New York Mellon Corp purchased a new position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 139,328 shares of the company's stock, valued at approximately $8,130,000. Bank of New York Mellon Corp owned approximately 0.34% of Skyward Specialty Insurance Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SKWD. Royce & Associates LP boosted its stake in Skyward Specialty Insurance Group by 24.9% during the fourth quarter. Royce & Associates LP now owns 202,659 shares of the company's stock worth $10,358,000 after buying an additional 40,339 shares during the last quarter. Reinhart Partners LLC. boosted its position in shares of Skyward Specialty Insurance Group by 4.1% during the 2nd quarter. Reinhart Partners LLC. now owns 2,894,407 shares of the company's stock valued at $168,889,000 after acquiring an additional 113,623 shares during the last quarter. UBS Group AG grew its holdings in shares of Skyward Specialty Insurance Group by 44.5% in the fourth quarter. UBS Group AG now owns 234,366 shares of the company's stock valued at $11,978,000 after purchasing an additional 72,196 shares during the period. Vanguard Group Inc. increased its position in Skyward Specialty Insurance Group by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 2,555,033 shares of the company's stock worth $130,588,000 after purchasing an additional 102,191 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Skyward Specialty Insurance Group by 397.5% during the first quarter. Sei Investments Co. now owns 433,298 shares of the company's stock worth $18,926,000 after purchasing an additional 346,202 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Piper Sandler reissued an "overweight" rating on shares of Skyward Specialty Insurance Group in a research note on Monday, August 24th. Keefe, Bruyette & Woods upped their price target on Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. TD Cowen increased their price target on Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the stock a "hold" rating in a report on Tuesday, August 11th. Truist Financial raised their price objective on Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, Texas Capital upgraded shares of Skyward Specialty Insurance Group to a "strong-buy" rating in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $68.64.

Insider Activity

In other news, insider Thomas Schmitt sold 8,397 shares of the 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 sale, the insider owned 10,353 shares of the company's stock, valued at approximately $531,315.96. This represents a 44.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.52% of the company's stock.

Skyward Specialty Insurance Group Stock Up 3.1%

SKWD opened at $58.09 on Friday. Skyward Specialty Insurance Group, Inc. has a 52 week low of $40.60 and a 52 week high of $65.69. The business has a fifty day simple moving average of $59.61 and a 200-day simple moving average of $50.90. The firm has a market cap of $2.58 billion, a P/E ratio of 13.54 and a beta of 0.33.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. The firm had revenue of $489.53 million for the quarter, compared to the consensus estimate of $706.59 million. Skyward Specialty Insurance Group had a return on equity of 18.72% and a net margin of 10.84%. Sell-side analysts expect that Skyward Specialty Insurance Group, Inc. will post 4.98 earnings per share for the current year.

About Skyward Specialty Insurance Group

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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