Skyward Specialty Insurance Group, Inc. $SKWD Shares Acquired by FJ Capital Management LLC

Key Points

• FJ Capital Management LLC increased its holdings in Skyward Specialty Insurance Group by 120.9%, acquiring an additional 38,918 shares in the 1st quarter, bringing its total to 71,100 shares valued at approximately $3.76 million.
• Reinhart Partners LLC and Nuveen LLC also made significant investments in Skyward Specialty, with Reinhart purchasing a stake valued at about $50 million and Nuveen at $14.35 million during the same quarter.
• Skyward Specialty's stock is currently rated as a "Moderate Buy" with an average price target of $60.88, despite mixed analyst ratings following recent adjustments in price targets.

FJ Capital Management LLC increased its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 120.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,100 shares of the company's stock after buying an additional 38,918 shares during the quarter. FJ Capital Management LLC owned about 0.18% of Skyward Specialty Insurance Group worth $3,763,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in Skyward Specialty Insurance Group in the 1st quarter worth approximately $67,000. KBC Group NV purchased a new stake in Skyward Specialty Insurance Group in the 1st quarter worth approximately $81,000. ORG Wealth Partners LLC boosted its position in Skyward Specialty Insurance Group by 86.9% in the 1st 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 in the last quarter. State of Wyoming boosted its position in Skyward Specialty Insurance Group by 52.4% in the 1st 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 purchased a new stake in Skyward Specialty Insurance Group in the 1st quarter worth approximately $179,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Insider Activity

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 52,748 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $58.76, for a total value of $3,099,472.48. Following the completion of the sale, the chief financial officer directly owned 133,629 shares of the company's stock, valued at $7,852,040.04. This trade represents a 28.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.01% of the stock is owned by company insiders.

Analysts Set New Price Targets

SKWD has been the topic of several recent research reports. Wall Street Zen lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Citigroup restated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Thursday. Piper Sandler lowered 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. Keefe, Bruyette & Woods upped their price objective on Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 29th. Finally, JMP Securities upped their price objective on Skyward Specialty Insurance Group from $65.00 to $70.00 and gave the stock a "market outperform" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.50.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ:SKWD traded down $0.93 during midday trading on Friday, reaching $50.23. 518,357 shares of the company's stock traded hands, compared to its average volume of 372,049. Skyward Specialty Insurance Group, Inc. has a 1 year low of $37.79 and a 1 year high of $65.05. The company has a market cap of $2.03 billion, a P/E ratio of 15.80 and a beta of 0.61. The company has a fifty day simple moving average of $51.18 and a two-hundred day simple moving average of $53.93.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter last year, the firm posted $0.80 EPS. As a group, research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Skyward Specialty Insurance Group Company 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.