Voya Investment Management LLC Has $22.95 Million Stock Position in Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Voya Investment Management LLC significantly increased its stake in Skyward Specialty Insurance Group, acquiring an additional 422,276 shares, bringing its total ownership to 433,652 shares, valued at approximately $22.95 million.
• Skyward Specialty Insurance Group reported $0.89 earnings per share (EPS) for the latest quarter, exceeding analyst expectations, and achieved a revenue of $319.90 million, slightly below the projected $324.64 million.
• Institutional investors collectively own 94.83% of Skyward Specialty's stock, indicating strong backing from the finance community.

Voya Investment Management LLC lifted its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 3,712.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 433,652 shares of the company's stock after purchasing an additional 422,276 shares during the quarter. Voya Investment Management LLC owned 1.07% of Skyward Specialty Insurance Group worth $22,949,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. LRI Investments LLC bought a new position in shares of Skyward Specialty Insurance Group during the first quarter worth approximately $67,000. KBC Group NV bought a new position in shares of Skyward Specialty Insurance Group during the first quarter worth approximately $81,000. ORG Wealth Partners LLC increased its holdings in shares of Skyward Specialty Insurance Group by 86.9% during the first quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company's stock worth $123,000 after purchasing an additional 1,057 shares during the period. State of Wyoming increased its holdings in shares of Skyward Specialty Insurance Group by 52.4% during the first quarter. State of Wyoming now owns 2,435 shares of the company's stock worth $129,000 after purchasing an additional 837 shares during the period. Finally, New York State Teachers Retirement System bought a new position in shares of Skyward Specialty Insurance Group during the first quarter worth approximately $179,000. 94.83% of the stock is owned by institutional investors.

Skyward Specialty Insurance Group Trading Down 1.1%

Skyward Specialty Insurance Group stock traded down $0.52 during mid-day trading on Friday, reaching $47.37. The company had a trading volume of 855,884 shares, compared to its average volume of 511,824. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $40.27 and a fifty-two week high of $65.05. The company has a market cap of $1.92 billion, a P/E ratio of 14.90 and a beta of 0.61. The business has a fifty day simple moving average of $49.64 and a 200 day simple moving average of $53.67.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.89 earnings per share 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 firm 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 posted $0.80 earnings per share. Research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Analyst Ratings Changes

SKWD has been the topic of several recent research reports. Wolfe Research raised shares of Skyward Specialty Insurance Group to an "outperform" rating in a report on Monday. Piper Sandler reduced their price target on shares of Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating on the stock in a research report on Friday, August 1st. BMO Capital Markets increased their price target on shares of Skyward Specialty Insurance Group from $52.00 to $55.00 and gave the stock a "market perform" rating in a research report on Monday, September 8th. Wall Street Zen lowered shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $60.78.

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.