Reinhart Partners LLC. Makes New $49.98 Million Investment in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Reinhart Partners LLC. purchased 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 filing with the Securities & Exchange Commission. The firm 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 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 quarter.

Several other hedge funds have also added to or reduced their stakes in SKWD. Capital World Investors bought a new position in Skyward Specialty Insurance Group in the fourth quarter valued at about $41,182,000. American Century Companies Inc. boosted its holdings in 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 valued at $79,744,000 after acquiring an additional 553,389 shares during the last quarter. WCM Investment Management LLC bought a new position in Skyward Specialty Insurance Group in the fourth quarter valued at about $18,084,000. Price T Rowe Associates Inc. MD boosted its holdings in 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 valued at $52,995,000 after acquiring an additional 283,749 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new position in Skyward Specialty Insurance Group in the fourth quarter valued at about $8,052,000. Institutional investors own 94.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SKWD. Truist Financial increased their target price on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Citigroup reissued an "outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, May 2nd. Jefferies Financial Group lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and cut their target price for the company from $62.00 to $59.00 in a research note on Friday, April 11th. Barclays increased their target price on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a research note on Friday, April 11th. Finally, Piper Sandler upped their price objective on shares of Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Skyward Specialty Insurance Group has an average rating of "Moderate Buy" and a consensus target price of $61.75.

Insider Activity at Skyward Specialty Insurance Group

In other news, Chairman Kirby Hill sold 8,249 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $60.87, for a total transaction of $502,116.63. Following the completion of 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 filing with the SEC, which is available at the SEC website. 8.01% of the stock is owned by insiders.

Skyward Specialty Insurance Group Trading Down 3.7%

Shares of NASDAQ SKWD traded down $2.23 during mid-day trading on Tuesday, reaching $58.19. 391,195 shares of the company's stock were exchanged, compared to its average volume of 370,975. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 0.81 and a beta of 0.79. The business has a fifty day simple moving average of $57.49 and a 200 day simple moving average of $52.24. 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 announced its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.12. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The business had revenue of $328.53 million for the quarter, compared to analyst estimates of $310.94 million. During the same quarter last year, the firm earned $0.75 EPS. Equities research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal 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.