Campbell Newman Asset Management Inc. Invests $1.56 Million in Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Campbell Newman Asset Management Inc. invested approximately $1.56 million in Skyward Specialty Insurance Group, acquiring 27,051 shares during the second quarter.
• Skyward Specialty Insurance Group recently reported $0.89 earnings per share for the last quarter, exceeding estimates, while its revenue was $319.90 million, slightly below analyst predictions.
• Analysts have mixed views on Skyward Specialty Insurance Group, with ratings ranging from "Strong Buy" to "Hold," and an average target price of $60.78.

Campbell Newman Asset Management Inc. acquired a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 27,051 shares of the company's stock, valued at approximately $1,563,000. Campbell Newman Asset Management Inc. owned about 0.07% of Skyward Specialty Insurance Group at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. LRI Investments LLC bought a new position in shares of Skyward Specialty Insurance Group during the 1st quarter worth $67,000. KBC Group NV purchased a new stake in Skyward Specialty Insurance Group during the first quarter valued at about $81,000. ORG Wealth Partners LLC boosted its position in Skyward Specialty Insurance Group by 86.9% during the first quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company's stock worth $123,000 after purchasing an additional 1,057 shares during the period. State of Wyoming increased its stake in shares of Skyward Specialty Insurance Group by 52.4% in the first quarter. State of Wyoming now owns 2,435 shares of the company's stock worth $129,000 after purchasing an additional 837 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new stake in shares of Skyward Specialty Insurance Group in the first quarter valued at approximately $179,000. 94.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on SKWD. JMP Securities raised their price objective on shares of Skyward Specialty Insurance Group from $65.00 to $70.00 and gave the stock a "market outperform" rating in a report on Thursday, September 4th. Wolfe Research raised Skyward Specialty Insurance Group to an "outperform" rating in a report on Monday, September 15th. Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Thursday, September 4th. Wall Street Zen lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Piper Sandler reduced their price objective on Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating on the stock in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $60.78.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock opened at $47.11 on Tuesday. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $40.29 and a fifty-two week high of $65.05. The stock's 50 day simple moving average is $48.85 and its two-hundred day simple moving average is $53.67. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 14.81 and a beta of 0.61.

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

Skyward Specialty Insurance Group 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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