Empowered Funds LLC Takes Position in Skyward Specialty Insurance Group, Inc. $SKWD

Empowered Funds LLC bought a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 51,722 shares of the company's stock, valued at approximately $3,018,000. Empowered Funds LLC owned approximately 0.12% of Skyward Specialty Insurance Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SKWD. BlackRock Inc. bought a new position in Skyward Specialty Insurance Group in the second quarter worth approximately $214,576,000. Reinhart Partners LLC. increased its holdings in shares of Skyward Specialty Insurance Group by 49.8% during the fourth quarter. Reinhart Partners LLC. now owns 2,416,753 shares of the company's stock valued at $123,521,000 after acquiring an additional 803,217 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Skyward Specialty Insurance Group by 411.7% during the third quarter. Balyasny Asset Management L.P. now owns 947,170 shares of the company's stock valued at $45,047,000 after acquiring an additional 762,079 shares in the last quarter. Wasatch Advisors LP raised its position in shares of Skyward Specialty Insurance Group by 198.5% during the second quarter. Wasatch Advisors LP now owns 954,489 shares of the company's stock worth $55,694,000 after purchasing an additional 634,708 shares during the period. Finally, Freestone Grove Partners LP acquired a new position in shares of Skyward Specialty Insurance Group during the third quarter worth approximately $24,234,000. 94.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Thomas N. Schmitt sold 8,397 shares of the business's 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 transaction, the insider directly owned 10,353 shares in the company, valued at approximately $531,315.96. The trade was a 44.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.52% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SKWD shares. Piper Sandler reissued an "overweight" rating on shares of Skyward Specialty Insurance Group in a research report on Monday, August 24th. Truist Financial boosted their price target on shares of Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. TD Cowen upped their price objective on shares of Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the stock a "hold" rating in a report on Tuesday, August 11th. Texas Capital raised shares of Skyward Specialty Insurance Group to a "strong-buy" rating in a research note on Tuesday, June 9th. Finally, Capital One Financial set a $59.00 price objective on shares of Skyward Specialty Insurance Group 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 issued a Hold rating to the stock. According to MarketBeat, Skyward Specialty Insurance Group has a consensus rating of "Moderate Buy" and a consensus target price of $68.64.

Skyward Specialty Insurance Group Trading Down 1.9%

Shares of NASDAQ:SKWD opened at $56.32 on Thursday. The stock's fifty day simple moving average is $59.56 and its two-hundred day simple moving average is $50.81. Skyward Specialty Insurance Group, Inc. has a 1-year low of $40.60 and a 1-year high of $65.69. The stock has a market cap of $2.50 billion, a PE ratio of 13.13 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, topping analysts' consensus estimates 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 net margin of 10.84% and a return on equity of 18.72%. On average, sell-side analysts forecast that Skyward Specialty Insurance Group, Inc. will post 4.98 earnings per share for the current fiscal year.

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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