Legato Capital Management LLC Purchases 7,350 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Legato Capital Management LLC raised its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 97.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,855 shares of the company's stock after acquiring an additional 7,350 shares during the period. Legato Capital Management LLC's holdings in Skyward Specialty Insurance Group were worth $786,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its stake in Skyward Specialty Insurance Group by 756.1% during the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock valued at $46,000 after acquiring an additional 809 shares during the last quarter. LRI Investments LLC purchased a new stake in Skyward Specialty Insurance Group during the 1st quarter valued at approximately $67,000. KBC Group NV purchased a new stake in Skyward Specialty Insurance Group during the 1st quarter valued at approximately $81,000. ORG Wealth Partners LLC raised its stake in Skyward Specialty Insurance Group by 86.9% during the 1st quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company's stock valued at $123,000 after acquiring an additional 1,057 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in Skyward Specialty Insurance Group during the 1st quarter valued at approximately $179,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD traded up $0.18 during mid-day trading on Friday, reaching $51.98. 382,083 shares of the company's stock traded hands, compared to its average volume of 451,552. The business's 50-day moving average price is $57.88 and its 200-day moving average price is $53.25. The stock has a market capitalization of $2.10 billion, a P/E ratio of 17.33 and a beta of 0.65. Skyward Specialty Insurance Group, Inc. has a 12 month low of $34.10 and a 12 month high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.12. The business had revenue of $328.53 million for the quarter, compared to analyst estimates of $310.94 million. Skyward Specialty Insurance Group had a net margin of 10.23% and a return on equity of 16.80%. During the same quarter last year, the business earned $0.75 earnings per share. Equities research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Insider Activity at Skyward Specialty Insurance Group

In other news, Chairman Kirby Hill sold 8,249 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $60.87, for a total transaction of $502,116.63. Following the transaction, the chairman directly owned 8,249 shares in the company, valued at $502,116.63. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark W. Haushill sold 52,748 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer owned 133,629 shares of the company's stock, valued at $7,852,040.04. This represents a 28.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.01% of the company's stock.

Analyst Upgrades and Downgrades

SKWD has been the topic of several recent analyst reports. Truist Financial boosted their target price on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. JMP Securities increased their price target on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a research note on Friday, May 2nd. Barclays increased their target price on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, April 11th. Finally, Piper Sandler increased their price target on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $61.75.

Skyward Specialty Insurance Group 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.