Nuveen LLC Takes Position 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 bought a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 271,236 shares of the company's stock, valued at approximately $14,354,000. Nuveen LLC owned approximately 0.67% of Skyward Specialty Insurance Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC boosted its holdings in shares of Skyward Specialty Insurance Group by 756.1% in the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock valued at $46,000 after acquiring an additional 809 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the first quarter valued at about $67,000. KBC Group NV acquired a new stake in shares of Skyward Specialty Insurance Group in the first quarter valued at about $81,000. ORG Wealth Partners LLC lifted its stake in shares of 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 period. Finally, New York State Teachers Retirement System acquired a new stake in shares of Skyward Specialty Insurance Group in the first quarter valued at about $179,000. Hedge funds and other institutional investors own 94.83% of the company's stock.

Skyward Specialty Insurance Group Stock Up 0.2%

Shares of NASDAQ:SKWD traded up $0.08 during trading on Tuesday, reaching $48.77. The stock had a trading volume of 299,402 shares, compared to its average volume of 431,997. The business has a fifty day moving average price of $52.50 and a 200-day moving average price of $53.98. The stock has a market cap of $1.97 billion, a P/E ratio of 15.34 and a beta of 0.62. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $37.79 and a fifty-two week high of $65.05.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SKWD. Wall Street Zen cut shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, May 2nd. Piper Sandler reduced their price objective on shares of Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating for the company in a research note on Friday, August 1st. JMP Securities raised their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a research note on Friday, May 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. 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 company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.88.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, CFO Mark W. Haushill sold 52,748 shares of the business's stock in a transaction that occurred 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 of the company's stock, 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 filing with the SEC, which is available at the SEC website. 7.86% of the stock is currently owned by corporate insiders.

About Skyward Specialty Insurance Group

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.