Reinhart Partners LLC. Has $55.42 Million Stock Position in Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Reinhart Partners LLC increased its stake in Skyward Specialty Insurance Group by 1.5% in Q2, now holding approximately 959,036 shares valued at $55.4 million.
• Skyward Specialty Insurance Group reported an earnings per share (EPS) of $0.89, exceeding the consensus estimate of $0.86, with a quarterly revenue of $319.9 million.
• Institutional ownership of Skyward Specialty Insurance Group stands at 94.83%, with various funds adjusting their positions in the company during the first quarter.

Reinhart Partners LLC. lifted its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 959,036 shares of the company's stock after acquiring an additional 14,605 shares during the quarter. Skyward Specialty Insurance Group accounts for 1.9% of Reinhart Partners LLC.'s portfolio, making the stock its 28th largest holding. Reinhart Partners LLC. owned 2.37% of Skyward Specialty Insurance Group worth $55,423,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of SKWD. SG Americas Securities LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the first quarter worth $631,000. Janney Montgomery Scott LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the first quarter worth $544,000. GAMMA Investing LLC boosted its position in Skyward Specialty Insurance Group by 6,374.4% during the first quarter. GAMMA Investing LLC now owns 17,675 shares of the company's stock valued at $935,000 after purchasing an additional 17,402 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in Skyward Specialty Insurance Group during the first quarter valued at $1,280,000. Finally, Envestnet Asset Management Inc. boosted its position in Skyward Specialty Insurance Group by 36.7% during the first quarter. Envestnet Asset Management Inc. now owns 103,016 shares of the company's stock valued at $5,452,000 after purchasing an additional 27,669 shares during the last quarter. 94.83% of the stock is owned by institutional investors.

Skyward Specialty Insurance Group Stock Down 1.1%

NASDAQ:SKWD traded down $0.52 during trading hours on Friday, hitting $47.37. 855,884 shares of the stock were exchanged, compared to its average volume of 511,824. The company's 50 day moving average is $49.64 and its two-hundred day moving average is $53.68. Skyward Specialty Insurance Group, Inc. has a twelve month low of $40.27 and a twelve month high of $65.05. The company has a market capitalization of $1.92 billion, a P/E ratio of 14.90 and a beta of 0.61.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.03. The firm had revenue of $319.90 million for the quarter, compared to the consensus estimate of $324.64 million. Skyward Specialty Insurance Group had a return on equity of 16.40% and a net margin of 10.53%.During the same quarter in the prior year, the business earned $0.80 EPS. On average, equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SKWD. Piper Sandler reduced their price objective on Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Citigroup reaffirmed an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Thursday, September 4th. Wall Street Zen lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. JMP Securities lifted their price objective on Skyward Specialty Insurance Group from $65.00 to $70.00 and gave the stock a "market outperform" rating in a research note on Thursday, September 4th. Finally, BMO Capital Markets lifted their price objective on Skyward Specialty Insurance Group from $52.00 to $55.00 and gave the stock a "market perform" rating in a research note on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of "Moderate Buy" and a consensus target price of $60.78.

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.