Skyward Specialty Insurance Group, Inc. $SKWD Shares Purchased by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD increased its holdings in Skyward Specialty Insurance Group by 4.3%, owning approximately 2.71% of the company with a value of $57.9 million.
• A number of hedge funds and institutional investors have also raised their stakes in Skyward, with institutional ownership now at 94.83%.
• Skyward Specialty Insurance Group reported $0.89 earnings per share for the last quarter, surpassing analysts' expectations of $0.86.

Price T Rowe Associates Inc. MD boosted its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 4.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,094,018 shares of the company's stock after acquiring an additional 45,464 shares during the period. Price T Rowe Associates Inc. MD owned about 2.71% of Skyward Specialty Insurance Group worth $57,896,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SKWD. Reinhart Partners LLC. bought a new position in Skyward Specialty Insurance Group in the first quarter worth about $49,979,000. Nuveen LLC bought a new position in Skyward Specialty Insurance Group in the first quarter worth about $14,354,000. Vanguard Group Inc. lifted its holdings in Skyward Specialty Insurance Group by 10.0% in the first quarter. Vanguard Group Inc. now owns 2,503,156 shares of the company's stock worth $132,467,000 after acquiring an additional 227,921 shares during the last quarter. Freestone Grove Partners LP bought a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter valued at approximately $8,052,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Skyward Specialty Insurance Group by 29.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 528,697 shares of the company's stock valued at $26,719,000 after buying an additional 121,636 shares during the last quarter. Institutional investors own 94.83% of the company's stock.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ SKWD traded down $0.16 during mid-day trading on Friday, reaching $48.30. 375,985 shares of the company traded hands, compared to its average volume of 381,162. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $37.79 and a fifty-two week high of $65.05. The firm has a market cap of $1.96 billion, a PE ratio of 15.19 and a beta of 0.62. The stock has a fifty day simple moving average of $51.97 and a 200-day simple moving average of $53.93.

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 analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $324.64 million. During the same quarter last year, the business earned $0.80 earnings per share. As a group, analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SKWD shares. Citigroup reaffirmed an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. JMP Securities lifted their price target on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a report on Friday, May 2nd. Piper Sandler cut their price target on Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating on the stock in a report on Friday, August 1st. Wall Street Zen cut Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Truist Financial lifted their price target on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a "buy" rating in a report on Monday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.88.

Insider Activity at Skyward Specialty Insurance Group

In related news, CFO Mark W. Haushill sold 52,748 shares of the firm'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 transaction of $3,099,472.48. Following the transaction, the chief financial officer owned 133,629 shares in the company, valued at $7,852,040.04. This trade represents a 28.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.01% of the stock is owned by corporate insiders.

Skyward Specialty Insurance Group Company 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.