Fox Run Management L.L.C. Invests $716,000 in Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Fox Run Management L.L.C. acquired 13,532 shares of Skyward Specialty Insurance Group for approximately $716,000 during the first quarter.
• Large investors have notably increased their stakes in the company, with 94.83% of the stock now owned by institutional investors.
• Analysts have mixed views on Skyward's stock, with target prices ranging from $59.00 to $72.00, resulting in a current average rating of "Moderate Buy."

Fox Run Management L.L.C. bought a new stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,532 shares of the company's stock, valued at approximately $716,000.

Several other institutional investors and hedge funds have also modified their holdings of SKWD. Reinhart Partners LLC. bought a new stake in shares of Skyward Specialty Insurance Group during the 1st quarter valued at about $49,979,000. Capital World Investors purchased a new stake in Skyward Specialty Insurance Group in the fourth quarter worth $41,182,000. Price T Rowe Associates Inc. MD grew its position in shares of Skyward Specialty Insurance Group by 37.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company's stock valued at $52,995,000 after purchasing an additional 283,749 shares in the last quarter. Nuveen LLC purchased a new position in Skyward Specialty Insurance Group during the first quarter worth about $14,354,000. Finally, Vanguard Group Inc. grew its position in Skyward Specialty Insurance Group by 10.0% during the first quarter. Vanguard Group Inc. now owns 2,503,156 shares of the company's stock worth $132,467,000 after buying an additional 227,921 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ:SKWD traded up $1.06 during trading hours on Wednesday, hitting $49.59. 373,875 shares of the company's stock traded hands, compared to its average volume of 423,216. The firm has a market capitalization of $2.01 billion, a P/E ratio of 15.59 and a beta of 0.62. The business has a fifty day moving average price of $53.48 and a 200-day moving average price of $53.93. Skyward Specialty Insurance Group, Inc. has a 1 year low of $37.79 and a 1 year high of $65.05.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SKWD. Keefe, Bruyette & Woods boosted their target price on Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. Truist Financial upped their target price on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. Wall Street Zen downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, JMP Securities upped their price objective on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of "Moderate Buy" and a consensus price target of $60.88.

Insider Activity

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 52,748 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $58.76, for a total value of $3,099,472.48. Following the sale, the chief financial officer directly owned 133,629 shares of the company's stock, valued at approximately $7,852,040.04. This represents a 28.30% 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. 7.86% of the stock is currently owned by insiders.

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.