Reinhart Partners LLC. Acquires New Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Reinhart Partners LLC. purchased a new position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 944,431 shares of the company's stock, valued at approximately $49,979,000. Skyward Specialty Insurance Group comprises 1.8% of Reinhart Partners LLC.'s investment portfolio, making the stock its 25th largest holding. Reinhart Partners LLC. owned 2.34% of Skyward Specialty Insurance Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SKWD. Capital World Investors acquired a new position in Skyward Specialty Insurance Group during the fourth quarter worth approximately $41,182,000. American Century Companies Inc. increased its position in Skyward Specialty Insurance Group by 54.0% during 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. WCM Investment Management LLC acquired a new position in Skyward Specialty Insurance Group during the fourth quarter worth approximately $18,084,000. Price T Rowe Associates Inc. MD increased its position in Skyward Specialty Insurance Group by 37.1% during 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 acquired a new position in Skyward Specialty Insurance Group during the fourth quarter worth approximately $8,052,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Chairman Kirby Hill sold 8,249 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $60.87, for a total transaction of $502,116.63. Following the transaction, the chairman now directly owns 8,249 shares in the company, valued at $502,116.63. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.01% of the stock is currently owned by insiders.

Skyward Specialty Insurance Group Trading Down 0.8%

SKWD opened at $62.45 on Friday. The company has a fifty day simple moving average of $57.29 and a 200 day simple moving average of $52.15. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 0.81 and a beta of 0.79. Skyward Specialty Insurance Group, Inc. has a twelve month low of $33.42 and a twelve month high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.12. The business had revenue of $328.53 million during the quarter, compared to analyst estimates of $310.94 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same period last year, the business earned $0.75 EPS. On average, analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on SKWD shares. Truist Financial upped their price target on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Wolfe Research reaffirmed a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. JMP Securities increased their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a research report on Friday, May 2nd. Piper Sandler increased their price objective on shares of Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Barclays increased their price objective on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $61.75.

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.

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