Northern Trust Corp Grows Stock Holdings in Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Northern Trust Corp increased its stake in Skyward Specialty Insurance Group by 18.5%, owning 462,908 shares worth approximately $24.5 million as of the end of the last reporting period.
• Skyward Specialty Insurance Group reported $0.89 earnings per share for the last quarter, beating estimates by $0.03 and showing a return on equity of 16.40%.
• Analysts have differing views on Skyward's stock, with price targets ranging from $59.00 to $72.00, and the consensus rating is currently "Moderate Buy."

Northern Trust Corp raised its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 18.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 462,908 shares of the company's stock after purchasing an additional 72,202 shares during the quarter. Northern Trust Corp owned about 1.15% of Skyward Specialty Insurance Group worth $24,497,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Arizona State Retirement System raised its position in shares of Skyward Specialty Insurance Group by 4.6% during the 1st quarter. Arizona State Retirement System now owns 10,329 shares of the company's stock valued at $547,000 after buying an additional 451 shares during the period. US Bancorp DE increased its stake in Skyward Specialty Insurance Group by 8.2% during the first quarter. US Bancorp DE now owns 5,935 shares of the company's stock worth $314,000 after acquiring an additional 451 shares during the last quarter. Cetera Investment Advisers raised its position in Skyward Specialty Insurance Group by 6.2% in the first quarter. Cetera Investment Advisers now owns 9,641 shares of the company's stock valued at $510,000 after purchasing an additional 566 shares during the period. Moran Wealth Management LLC raised its position in Skyward Specialty Insurance Group by 6.2% in the first quarter. Moran Wealth Management LLC now owns 10,032 shares of the company's stock valued at $531,000 after purchasing an additional 585 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Skyward Specialty Insurance Group by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,129 shares of the company's stock valued at $1,068,000 after purchasing an additional 748 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SKWD. Citigroup reissued an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Thursday. JMP Securities increased their target price on shares of Skyward Specialty Insurance Group from $65.00 to $70.00 and gave the stock a "market outperform" rating in a research note on Thursday. Keefe, Bruyette & Woods lifted their price target on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 29th. Piper Sandler reduced their price target on shares of Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. Finally, Wall Street Zen cut shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.50.

Insider Activity 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 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 completion of the transaction, the chief financial officer 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 legal filing with the SEC, which is available at the SEC website. 7.86% of the stock is currently owned by company insiders.

Skyward Specialty Insurance Group Stock Up 4.7%

NASDAQ:SKWD traded up $2.31 on Thursday, reaching $51.18. 399,046 shares of the company's stock were exchanged, compared to its average volume of 420,480. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 16.12 and a beta of 0.61. Skyward Specialty Insurance Group, Inc. has a 52-week low of $37.79 and a 52-week high of $65.05. The business has a fifty day moving average of $51.43 and a 200-day moving average of $53.91.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.89 EPS for the quarter, beating the consensus estimate 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 business had revenue of $319.90 million during the quarter, compared to analyst estimates of $324.64 million. During the same quarter last year, the firm posted $0.80 earnings per share. As a group, equities analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

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.