First Trust Advisors LP Purchases 69,254 Shares of Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• First Trust Advisors LP more than doubled its Skyward Specialty position in the first quarter, adding 69,254 shares to own 135,471 shares worth about $5.9 million. Institutional investors collectively held 94.83% of the company’s stock.
• SKWD recently traded at $59.95, near its 52-week high of $63.96. The company reported quarterly EPS of $1.25, beating estimates by $0.12, while revenue rose 9.9% year over year but fell below analysts’ consensus forecast.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $67.67; Piper Sandler and Keefe, Bruyette & Woods recently raised their targets to $72. Two insiders also reported stock sales, and insiders own 8.52% of the company.

First Trust Advisors LP grew its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 104.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 135,471 shares of the company's stock after buying an additional 69,254 shares during the period. First Trust Advisors LP owned approximately 0.30% of Skyward Specialty Insurance Group worth $5,917,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SKWD. Vanguard Group Inc. raised its stake in Skyward Specialty Insurance Group by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 2,555,033 shares of the company's stock worth $130,588,000 after buying an additional 102,191 shares during the period. Reinhart Partners LLC. grew its stake in Skyward Specialty Insurance Group by 49.8% in 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 during the period. Invesco Ltd. grew its stake in Skyward Specialty Insurance Group by 5.1% in the fourth quarter. Invesco Ltd. now owns 1,451,648 shares of the company's stock valued at $74,194,000 after acquiring an additional 70,255 shares during the period. Price T Rowe Associates Inc. MD increased its holdings 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 worth $60,511,000 after acquiring an additional 33,677 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Skyward Specialty Insurance Group by 411.7% in the third quarter. Balyasny Asset Management L.P. now owns 947,170 shares of the company's stock worth $45,047,000 after acquiring an additional 762,079 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Skyward Specialty Insurance Group Stock Performance

SKWD stock opened at $59.95 on Monday. The stock has a 50-day moving average price of $54.34 and a two-hundred day moving average price of $48.52. The stock has a market cap of $2.43 billion, a PE ratio of 14.45 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 $63.96.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.12. The firm had revenue of $475.87 million for the quarter, compared to the consensus estimate of $665.12 million. Skyward Specialty Insurance Group had a return on equity of 18.24% and a net margin of 11.36%.The company's revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. On average, analysts forecast that Skyward Specialty Insurance Group, Inc. will post 4.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SKWD has been the topic of a number of research analyst reports. Wall Street Zen lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Piper Sandler boosted their price objective on Skyward Specialty Insurance Group from $68.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Capital One Financial set a $59.00 target price on Skyward Specialty Insurance Group in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods raised their target price on shares of Skyward Specialty Insurance Group from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, July 8th. Finally, Texas Capital raised shares of Skyward Specialty Insurance Group to a "strong-buy" rating in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group has an average rating of "Moderate Buy" and a consensus target price of $67.67.

Insider Activity at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group 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 sale, the insider owned 10,353 shares in the company, valued at approximately $531,315.96. The trade was a 44.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gena L. Ashe sold 740 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $46.35, for a total value of $34,299.00. Following the transaction, the director directly owned 4,570 shares of the company's stock, valued at approximately $211,819.50. This trade represents a 13.94% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 8.52% of the stock is owned by insiders.

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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