Skyward Specialty Insurance Group, Inc. $SKWD Shares Bought by Invesco Ltd.

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. increased its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,223,229 shares of the company's stock after purchasing an additional 5,900 shares during the quarter. Invesco Ltd. owned approximately 3.03% of Skyward Specialty Insurance Group worth $64,733,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SKWD. Sterling Capital Management LLC lifted its stake in Skyward Specialty Insurance Group by 756.1% in 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 period. LRI Investments LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the 1st quarter worth $67,000. KBC Group NV bought a new stake in Skyward Specialty Insurance Group during the first quarter valued at about $81,000. ORG Wealth Partners LLC grew its stake in Skyward Specialty Insurance Group by 86.9% in the first quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company's stock valued at $123,000 after purchasing an additional 1,057 shares during the last quarter. Finally, New York State Teachers Retirement System bought a new position in Skyward Specialty Insurance Group in the first quarter worth about $179,000. Institutional investors own 94.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SKWD shares. Citigroup restated an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. Truist Financial lifted their price target on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Wall Street Zen downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Piper Sandler lowered their price objective on Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Finally, JMP Securities upped their target price 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 research 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, the company currently has an average rating of "Moderate Buy" and a consensus target price of $60.88.

Skyward Specialty Insurance Group Stock Up 0.4%

Shares of Skyward Specialty Insurance Group stock traded up $0.1850 on Thursday, reaching $49.7750. 20,448 shares of the stock were exchanged, compared to its average volume of 420,620. Skyward Specialty Insurance Group, Inc. has a twelve month low of $37.79 and a twelve month high of $65.05. The business has a 50 day moving average price of $53.29 and a two-hundred day moving average price of $53.90. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 15.70 and a beta of 0.62.

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

Insider Activity

In related news, CFO Mark W. Haushill sold 52,748 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $58.76, for a total transaction of $3,099,472.48. Following the completion of the transaction, the chief financial officer directly owned 133,629 shares in the company, valued at $7,852,040.04. The trade was a 28.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.01% of the stock is currently owned by company 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.