BlackRock Inc. Takes $214.58 Million Position in Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• BlackRock acquired 3.68 million shares of Skyward Specialty Insurance Group during the second quarter, valued at approximately $214.6 million and representing a 9.07% stake. Institutional investors collectively own 94.83% of the company.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $68.64; recent targets range from $65 to $75.
• Skyward Specialty reported quarterly EPS of $1.30, beating the $1.17 consensus estimate. The stock recently opened at $57.65, compared with a 52-week range of $40.60 to $65.69.

BlackRock Inc. purchased a new stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 3,677,399 shares of the company's stock, valued at approximately $214,576,000. BlackRock Inc. owned about 9.07% of Skyward Specialty Insurance Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC purchased a new position in Skyward Specialty Insurance Group in the 1st quarter worth about $37,000. Quarry LP grew its stake in Skyward Specialty Insurance Group by 558.9% in the 3rd quarter. Quarry LP now owns 995 shares of the company's stock worth $47,000 after acquiring an additional 844 shares in the last quarter. Fifth Third Bancorp bought a new position in Skyward Specialty Insurance Group in the 1st quarter worth about $60,000. Kestra Advisory Services LLC purchased a new position in shares of Skyward Specialty Insurance Group during the fourth quarter worth approximately $65,000. Finally, KBC Group NV raised its stake in shares of Skyward Specialty Insurance Group by 73.2% during the first quarter. KBC Group NV now owns 1,780 shares of the company's stock valued at $78,000 after acquiring an additional 752 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SKWD has been the subject of several recent research reports. Keefe, Bruyette & Woods lifted their price objective on Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Truist Financial raised their target price on shares of Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. TD Cowen boosted their price target on shares of Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the company a "hold" rating in a report on Tuesday, August 11th. Weiss Ratings raised shares of Skyward Specialty Insurance Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday. Finally, Barclays increased their price objective on shares of Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. One 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 stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group presently has a consensus rating of "Moderate Buy" and an average target price of $68.64.

Skyward Specialty Insurance Group Price Performance

Skyward Specialty Insurance Group stock opened at $57.65 on Friday. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 13.44 and a beta of 0.34. Skyward Specialty Insurance Group, Inc. has a 1-year low of $40.60 and a 1-year high of $65.69. The business has a fifty day moving average price of $59.15 and a 200-day moving average price of $50.47.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results 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. Skyward Specialty Insurance Group had a return on equity of 18.72% and a net margin of 10.84%.The company had revenue of $489.53 million for the quarter, compared to analyst estimates of $706.59 million. On average, equities research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 4.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Thomas N. Schmitt sold 8,397 shares of the 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 directly 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 is accessible through the SEC website. Insiders own 8.52% of the company's stock.

Skyward Specialty Insurance Group Company 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.

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