Beacon Pointe Advisors LLC Invests $1.03 Million in Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Beacon Pointe Advisors initiated a $1.03 million position in Skyward Specialty Insurance Group during the second quarter. Institutional investors and hedge funds collectively own 94.83% of SKWD.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $68.64, above the stock’s reported $57.41 opening price.
• Skyward Specialty exceeded quarterly earnings expectations, reporting $1.30 in EPS versus the $1.17 consensus estimate. The company posted a 10.84% net margin and 18.72% return on equity.

Beacon Pointe Advisors LLC acquired a new stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,626 shares of the company's stock, valued at approximately $1,028,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Skyward Specialty Insurance Group during the second quarter valued at about $214,576,000. Reinhart Partners LLC. grew its holdings 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 worth $168,889,000 after purchasing an additional 113,623 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 valued at $130,588,000 after purchasing an additional 102,191 shares during the period. Invesco Ltd. increased its position in shares of Skyward Specialty Insurance Group by 5.1% during the fourth quarter. Invesco Ltd. now owns 1,451,648 shares of the company's stock valued at $74,194,000 after purchasing an additional 70,255 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Skyward Specialty Insurance Group by 2.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,183,920 shares of the company's stock valued at $60,511,000 after purchasing an additional 33,677 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SKWD shares. Capital One Financial set a $59.00 price target 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. Barclays lifted their target price on shares of Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Texas Capital raised shares of Skyward Specialty Insurance Group to a "strong-buy" rating in a research note on Tuesday, June 9th. Finally, Truist Financial lifted their price objective on Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Skyward Specialty Insurance Group presently has an average rating of "Moderate Buy" and an average target price of $68.64.

Skyward Specialty Insurance Group Price Performance

SKWD opened at $57.41 on Tuesday. The stock has a market capitalization of $2.55 billion, a P/E ratio of 13.38 and a beta of 0.34. The company's 50 day simple moving average is $59.43 and its 200-day simple moving average is $50.66. Skyward Specialty Insurance Group, Inc. has a one year low of $40.60 and a one year high of $65.69.

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 for the quarter, topping the consensus estimate of $1.17 by $0.13. The firm had revenue of $489.53 million during the quarter, compared to analysts' expectations of $706.59 million. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 18.72%. As a group, analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 4.98 EPS for the current year.

Insider Transactions at Skyward Specialty Insurance Group

In related news, insider Thomas N. Schmitt sold 8,397 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $51.32, for a total value of $430,934.04. Following the transaction, the insider owned 10,353 shares in the company, valued at $531,315.96. This trade represents a 44.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.52% of the stock is currently owned by corporate insiders.

Skyward Specialty Insurance Group Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source