Penserra Capital Management LLC Makes New Investment in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Penserra Capital Management LLC bought a new position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 24,189 shares of the company's stock, valued at approximately $1,280,000. Penserra Capital Management LLC owned approximately 0.06% of Skyward Specialty Insurance Group at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SKWD. Reinhart Partners LLC. bought a new stake in Skyward Specialty Insurance Group in the first quarter worth $49,979,000. Capital World Investors purchased a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth $41,182,000. American Century Companies Inc. raised its stake in shares of Skyward Specialty Insurance Group by 54.0% in the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company's stock worth $79,744,000 after purchasing an additional 553,389 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Skyward Specialty Insurance Group by 37.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company's stock worth $52,995,000 after purchasing an additional 283,749 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth $8,052,000. 94.83% of the stock is owned by institutional investors.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD traded down $0.97 during trading hours on Thursday, hitting $53.66. The stock had a trading volume of 68,074 shares, compared to its average volume of 369,863. Skyward Specialty Insurance Group, Inc. has a 12 month low of $34.10 and a 12 month high of $65.05. The firm has a market capitalization of $2.17 billion, a PE ratio of 17.89 and a beta of 0.65. The stock has a fifty day moving average price of $59.42 and a 200 day moving average price of $52.92.

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

Analyst Ratings Changes

Several research firms have recently weighed in on SKWD. Jefferies Financial Group cut Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and decreased their price target for the stock from $62.00 to $59.00 in a research note on Friday, April 11th. Keefe, Bruyette & Woods boosted their price target on Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 29th. Piper Sandler boosted their price target on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Citigroup restated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, May 2nd. Finally, Barclays boosted their price target on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a research note on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of "Moderate Buy" and a consensus price target of $61.75.

Insider Transactions at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 52,748 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $58.76, for a total value of $3,099,472.48. Following the completion of the sale, the chief financial officer owned 133,629 shares in the company, valued at $7,852,040.04. This represents a 28.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Kirby Hill sold 8,249 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $60.87, for a total value of $502,116.63. Following the completion of the sale, the chairman owned 8,249 shares of the company's stock, valued at approximately $502,116.63. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.01% of the company's stock.

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.