Centaurus Financial Inc. Invests $1.39 Million in Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Centaurus Financial initiated a $1.39 million position in Skyward Specialty Insurance Group, purchasing 23,806 shares. Institutional investors collectively own 94.83% of the company.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $68.64; Barclays and Truist recently raised their targets.
• Skyward Specialty reported quarterly EPS of $1.30, exceeding estimates of $1.17. Shares opened at $57.65, while the company has a $2.56 billion market capitalization and a 52-week range of $40.60 to $65.69.

Centaurus Financial Inc. purchased a new stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 23,806 shares of the company's stock, valued at approximately $1,389,000. Centaurus Financial Inc. owned 0.05% of Skyward Specialty Insurance Group at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in Skyward Specialty Insurance Group in the second quarter worth $214,576,000. Reinhart Partners LLC. raised its position in shares of Skyward Specialty Insurance Group by 4.1% in 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 during the last quarter. Vanguard Group Inc. raised its position in shares of Skyward Specialty Insurance Group by 4.2% in the 4th 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. Invesco Ltd. boosted its stake in Skyward Specialty Insurance Group by 5.1% in the 4th quarter. Invesco Ltd. now owns 1,451,648 shares of the company's stock worth $74,194,000 after purchasing an additional 70,255 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Skyward Specialty Insurance Group by 2.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,183,920 shares of the company's stock worth $60,511,000 after purchasing an additional 33,677 shares in the last quarter. Institutional investors own 94.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Texas Capital upgraded shares of Skyward Specialty Insurance Group to a "strong-buy" rating in a report on Tuesday, June 9th. Capital One Financial set a $59.00 price objective on Skyward Specialty Insurance Group in a research report on Tuesday, June 9th. Wall Street Zen upgraded Skyward Specialty Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Truist Financial lifted their target price on Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $68.64.

Skyward Specialty Insurance Group Stock Down 0.7%

Shares of SKWD opened at $57.65 on Friday. The business has a 50-day simple moving average of $59.15 and a two-hundred day simple moving average of $50.47. The stock has a market cap 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 52 week low of $40.60 and a 52 week high of $65.69.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.13. The company had revenue of $489.53 million during the quarter, compared to analyst estimates of $706.59 million. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 18.72%. On average, equities analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 4.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Thomas N. Schmitt sold 8,397 shares of the business's stock in a transaction that occurred on 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. The trade was a 44.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.52% of the company's stock.

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.

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.

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