Skyward Specialty Insurance Group, Inc. $SKWD Stock Holdings Trimmed by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Skyward Specialty Insurance Group by 42.2%, now owning approximately 0.61% of the company, valued at about $12.96 million.
• The stock has seen a fifty-two week high of $65.05 and a low of $37.79, with a current market cap of $2.03 billion and a price-to-earnings ratio of 15.80.
• Analysts have mixed ratings on Skyward Specialty Insurance Group, with a consensus target price of $61.50 and one analyst rating it as a Strong Buy.

Jacobs Levy Equity Management Inc. lessened its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 42.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 244,913 shares of the company's stock after selling 178,986 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.61% of Skyward Specialty Insurance Group worth $12,961,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. PDT Partners LLC lifted its stake in shares of Skyward Specialty Insurance Group by 17.7% during the first quarter. PDT Partners LLC now owns 66,371 shares of the company's stock worth $3,512,000 after purchasing an additional 9,969 shares in the last quarter. FJ Capital Management LLC lifted its stake in shares of Skyward Specialty Insurance Group by 120.9% during the first quarter. FJ Capital Management LLC now owns 71,100 shares of the company's stock worth $3,763,000 after purchasing an additional 38,918 shares in the last quarter. State of Wyoming lifted its stake in shares of Skyward Specialty Insurance Group by 52.4% during the first 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. AlphaQuest LLC lifted its stake in shares of Skyward Specialty Insurance Group by 7,697.1% during the first quarter. AlphaQuest LLC now owns 10,838 shares of the company's stock worth $574,000 after purchasing an additional 10,699 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Skyward Specialty Insurance Group by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,094,018 shares of the company's stock worth $57,896,000 after purchasing an additional 45,464 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ SKWD traded down $1.00 during midday trading on Friday, reaching $46.72. 201,333 shares of the company's stock were exchanged, compared to its average volume of 426,030. The stock has a market capitalization of $1.89 billion, a PE ratio of 14.69 and a beta of 0.61. Skyward Specialty Insurance Group, Inc. has a 52-week low of $38.53 and a 52-week high of $65.05. The business's fifty day moving average price is $50.55 and its two-hundred day moving average price is $53.90.

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 the consensus estimate of $0.86 by $0.03. The firm had revenue of $319.90 million during 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 period in the previous year, the company earned $0.80 earnings per share. Analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wall Street Zen cut Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. JMP Securities boosted 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 note on Thursday, September 4th. Piper Sandler dropped their target price 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. Citigroup reaffirmed an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Thursday, September 4th. Finally, BMO Capital Markets lifted their target price on Skyward Specialty Insurance Group from $52.00 to $55.00 and gave the stock a "market perform" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of "Moderate Buy" and an average target price of $60.78.

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.