Nuveen LLC Makes New $14.35 Million Investment in Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Nuveen LLC has acquired a new stake in Skyward Specialty Insurance Group, purchasing 271,236 shares valued at approximately $14.35 million, representing 0.67% ownership as per its latest SEC filing.
• Analysts have set new price targets for Skyward Specialty Insurance Group, with JMP Securities raising the target from $60.00 to $65.00 and Truist Financial increasing it from $61.00 to $70.00, signifying a positive outlook on the stock.
• In insider trading news, CFO Mark W. Haushill sold 52,748 shares at an average price of $58.76, reducing his stake by 28.30% while retaining 133,629 shares valued at approximately $7.85 million.

Nuveen LLC acquired a new stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 271,236 shares of the company's stock, valued at approximately $14,354,000. Nuveen LLC owned about 0.67% of Skyward Specialty Insurance Group at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. SG Americas Securities LLC bought a new position in Skyward Specialty Insurance Group during the first quarter valued at about $631,000. Janney Montgomery Scott LLC acquired a new position in shares of Skyward Specialty Insurance Group in the 1st quarter worth approximately $544,000. GAMMA Investing LLC lifted its holdings in Skyward Specialty Insurance Group by 6,374.4% during the 1st quarter. GAMMA Investing LLC now owns 17,675 shares of the company's stock worth $935,000 after buying an additional 17,402 shares in the last quarter. Penserra Capital Management LLC acquired a new position in Skyward Specialty Insurance Group during the 1st quarter worth $1,280,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Skyward Specialty Insurance Group by 36.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 103,016 shares of the company's stock worth $5,452,000 after buying an additional 27,669 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 52,748 shares of the company'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 sale, the chief financial officer owned 133,629 shares of the company's stock, valued at approximately $7,852,040.04. This represents a 28.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.86% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on SKWD shares. Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. Piper Sandler dropped their price target on 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. Wall Street Zen downgraded 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 target price on 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. Finally, JMP Securities lifted 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 investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Skyward Specialty Insurance Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.88.

Skyward Specialty Insurance Group Price Performance

Shares of Skyward Specialty Insurance Group stock traded down $0.4750 during trading on Monday, hitting $49.0850. The company's stock had a trading volume of 89,995 shares, compared to its average volume of 419,495. Skyward Specialty Insurance Group, Inc. has a 52 week low of $37.79 and a 52 week high of $65.05. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 15.44 and a beta of 0.62. The stock has a 50-day moving average price of $52.91 and a two-hundred day moving average price of $54.01.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.89 earnings per share for the quarter, topping 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 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 earnings per share. On average, equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal 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.