Invesco Ltd. Increases Holdings in Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Invesco Ltd. increased its stake in Skyward Specialty Insurance Group to approximately $64.73 million, owning about 3.03% of the company after purchasing 5,900 additional shares.
• Several institutional investors significantly increased their holdings in Skyward Specialty Insurance Group, with 94.83% of the stock owned by such investors, indicating strong interest in the company.
• Analysts have a mixed outlook on Skyward Specialty Insurance Group, with the stock receiving four hold ratings, seven buy ratings, and an overall average target price of $60.88.

Invesco Ltd. boosted its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,223,229 shares of the company's stock after acquiring an additional 5,900 shares during the quarter. Invesco Ltd. owned about 3.03% of Skyward Specialty Insurance Group worth $64,733,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its stake in Skyward Specialty Insurance Group by 756.1% during the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock worth $46,000 after acquiring an additional 809 shares during the last quarter. LRI Investments LLC acquired a new stake in Skyward Specialty Insurance Group during the first quarter worth $67,000. KBC Group NV acquired a new stake in Skyward Specialty Insurance Group during the first quarter worth $81,000. ORG Wealth Partners LLC boosted its position in shares of Skyward Specialty Insurance Group by 86.9% during the first quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company's stock worth $123,000 after buying an additional 1,057 shares during the period. Finally, New York State Teachers Retirement System purchased a new position in shares of Skyward Specialty Insurance Group during the first quarter worth $179,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SKWD. Wall Street Zen lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Keefe, Bruyette & Woods lifted their price target on Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 29th. Piper Sandler decreased their price target on Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating for the company in a report on Friday, August 1st. Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. Finally, JMP Securities lifted their target price on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.88.

Skyward Specialty Insurance Group Price Performance

NASDAQ SKWD traded down $0.15 on Thursday, hitting $49.44. 281,150 shares of the company's stock were exchanged, compared to its average volume of 474,859. The firm's 50-day moving average price is $53.09 and its two-hundred day moving average price is $53.92. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $37.79 and a fifty-two week high of $65.05. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 15.55 and a beta of 0.62.

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

Insider Transactions at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 52,748 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $58.76, for a total transaction of $3,099,472.48. Following the transaction, the chief financial officer owned 133,629 shares in the company, valued at approximately $7,852,040.04. The trade was a 28.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.01% of the company's stock.

About Skyward Specialty Insurance Group

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.