Price T Rowe Associates Inc. MD Has $57.90 Million Stock Holdings in Skyward Specialty Insurance Group, Inc. $SKWD

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 lifted its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,094,018 shares of the company's stock after purchasing an additional 45,464 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 2.71% of Skyward Specialty Insurance Group worth $57,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Skyward Specialty Insurance Group in the 1st quarter worth approximately $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 boosted its holdings in shares of Skyward Specialty Insurance Group by 6,374.4% in the 1st quarter. GAMMA Investing LLC now owns 17,675 shares of the company's stock worth $935,000 after acquiring an additional 17,402 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of Skyward Specialty Insurance Group in the 1st quarter worth approximately $1,280,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 36.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 103,016 shares of the company's stock worth $5,452,000 after acquiring an additional 27,669 shares in the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods boosted their target price on Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 29th. Piper Sandler reduced their target price 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. Finally, Truist Financial boosted their target price on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, May 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.88.

Insider Buying and Selling

In related news, CFO Mark W. Haushill sold 52,748 shares of the 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 completion of the transaction, the chief financial officer owned 133,629 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 7.86% of the company's stock.

Skyward Specialty Insurance Group Stock Down 0.3%

NASDAQ:SKWD traded down $0.16 during trading hours on Monday, hitting $48.30. 375,985 shares of the stock were exchanged, compared to its average volume of 376,812. The company's 50 day moving average is $51.76 and its two-hundred day moving average is $53.98. Skyward Specialty Insurance Group, Inc. has a twelve month low of $37.79 and a twelve month high of $65.05. The company has a market capitalization of $1.96 billion, a P/E ratio of 15.19 and a beta of 0.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.03. The firm had revenue of $319.90 million for the quarter, compared to analysts' expectations 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 period last year, the firm earned $0.80 earnings per share. On average, equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

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.