Driehaus Capital Management LLC Has $63.42 Million Position in Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Driehaus Capital Management LLC decreased its investment in Skyward Specialty Insurance Group by 1.4%, now holding approximately 1.2 million shares, valued at about $63.4 million.
• Several institutional investors have adjusted their positions, with LRI Investments and KBC Group purchasing new stakes valued at around $67,000 and $81,000, respectively.
• Analysts have mixed opinions on Skyward Specialty, with target price changes ranging from $59 to $72, while the average rating remains a "Moderate Buy" with a target price of $60.88.

Driehaus Capital Management LLC lessened its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,198,397 shares of the company's stock after selling 17,275 shares during the quarter. Driehaus Capital Management LLC owned 2.97% of Skyward Specialty Insurance Group worth $63,419,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Skyward Specialty Insurance Group by 10.0% in the first quarter. Vanguard Group Inc. now owns 2,503,156 shares of the company's stock valued at $132,467,000 after acquiring an additional 227,921 shares during the period. Invesco Ltd. boosted its position in shares of Skyward Specialty Insurance Group by 0.5% in the first quarter. Invesco Ltd. now owns 1,223,229 shares of the company's stock valued at $64,733,000 after acquiring an additional 5,900 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Skyward Specialty Insurance Group by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,094,018 shares of the company's stock valued at $57,896,000 after acquiring an additional 45,464 shares during the period. Reinhart Partners LLC. bought a new stake in shares of Skyward Specialty Insurance Group in the first quarter valued at about $49,979,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Skyward Specialty Insurance Group by 29.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 528,697 shares of the company's stock valued at $26,719,000 after acquiring an additional 121,636 shares during the period. Institutional investors own 94.83% of the company's stock.

Insider Activity

In other news, CFO Mark W. Haushill sold 52,748 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $58.76, for a total value of $3,099,472.48. Following the completion of the transaction, the chief financial officer owned 133,629 shares of the company's stock, valued at $7,852,040.04. This represents a 28.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 7.86% of the stock is owned by corporate insiders.

Skyward Specialty Insurance Group Trading Up 1.0%

NASDAQ SKWD traded up $0.50 during trading on Wednesday, hitting $49.86. 237,353 shares of the company's stock were exchanged, compared to its average volume of 416,293. The company has a market cap of $2.02 billion, a PE ratio of 15.70 and a beta of 0.61. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $37.79 and a fifty-two week high of $65.05. The stock's 50 day moving average price is $51.57 and its two-hundred day moving average price is $53.95.

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

Wall Street Analyst Weigh In

SKWD has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 29th. Piper Sandler cut their price objective on shares of 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. Finally, Wall Street Zen cut shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, six 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 an average price target of $60.88.

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.