Skyward Specialty Insurance Group, Inc. $SKWD Stock: Sterling Capital Management LLC Reduces Position

Key Points

• Sterling Capital Management cut its Skyward Specialty stake by 94.2% in the third quarter, selling 17,505 shares and retaining 1,082 shares valued at about $57,000.
• Skyward reported quarterly EPS of $1.30, beating the $1.17 consensus, while revenue of $489.53 million came in below analysts’ $706.59 million expectation.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $71.11; shares opened at $62.22, up 2.2% in the article’s report.

Sterling Capital Management LLC reduced its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 94.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,082 shares of the company's stock after selling 17,505 shares during the period. Sterling Capital Management LLC's holdings in Skyward Specialty Insurance Group were worth $57,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of Skyward Specialty Insurance Group by 78.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,814 shares of the company's stock valued at $96,000 after acquiring an additional 797 shares in the last quarter. Ellsworth Advisors LLC acquired a new stake in Skyward Specialty Insurance Group in the 3rd quarter worth approximately $820,000. Baird Financial Group Inc. boosted its stake in Skyward Specialty Insurance Group by 8.0% in the 2nd quarter. Baird Financial Group Inc. now owns 10,016 shares of the company's stock worth $584,000 after purchasing an additional 746 shares in the last quarter. Arcus Capital Partners LLC acquired a new stake in Skyward Specialty Insurance Group in the 2nd quarter worth approximately $350,000. Finally, Arizona State Retirement System grew its position in Skyward Specialty Insurance Group by 10.5% during the 2nd quarter. Arizona State Retirement System now owns 11,062 shares of the company's stock worth $645,000 after purchasing an additional 1,054 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Trading Up 2.2%

SKWD opened at $62.22 on Thursday. Skyward Specialty Insurance Group, Inc. has a 12-month low of $40.60 and a 12-month high of $65.69. The firm has a market capitalization of $2.76 billion, a PE ratio of 14.50 and a beta of 0.32. The firm has a 50 day moving average of $57.82 and a two-hundred day moving average of $51.84.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The business had revenue of $489.53 million during the quarter, compared to analysts' expectations of $706.59 million. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 18.72%. As a group, analysts predict that Skyward Specialty Insurance Group, Inc. will post 5.00 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SKWD has been the topic of a number of recent analyst reports. Citigroup restated a "market outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Monday, October 12th. Weiss Ratings downgraded shares of Skyward Specialty Insurance Group from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, October 30th. Piper Sandler reissued an "overweight" rating on shares of Skyward Specialty Insurance Group in a report on Monday, August 24th. Keefe, Bruyette & Woods upped their target price on Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Finally, TD Cowen upped their target price on Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the company a "hold" rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $71.11.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc is a specialty property and casualty insurance company headquartered in Houston, Texas. Through its insurance subsidiaries, the company provides customized coverage for businesses and organizations that may be underserved by the standard insurance market.

Its offerings include excess and surplus lines insurance, professional liability, healthcare liability, workers' compensation, surety, commercial property and casualty coverage, specialty programs, and accident and health products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.