Squarepoint Ops LLC Sells 62,129 Shares of Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Squarepoint Ops LLC reduced its Skyward Specialty Insurance Group position by 92.9% in the second quarter, selling 62,129 shares and retaining 4,748 shares valued at approximately $277,000.
• Analysts remain broadly positive, with an average “Moderate Buy” rating and a consensus price target of $70; several firms recently raised their targets to between $68 and $75.
• SKWD opened at $54.84, while the company’s latest quarterly results showed adjusted earnings of $1.30 per share, beating estimates of $1.17. Institutional investors own approximately 94.83% of the stock.

Squarepoint Ops LLC trimmed its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 92.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,748 shares of the company's stock after selling 62,129 shares during the quarter. Squarepoint Ops LLC's holdings in Skyward Specialty Insurance Group were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Baird Financial Group Inc. increased its stake in shares of Skyward Specialty Insurance Group by 8.0% during the second quarter. Baird Financial Group Inc. now owns 10,016 shares of the company's stock valued at $584,000 after purchasing an additional 746 shares in the last quarter. Arcus Capital Partners LLC bought a new stake in shares of Skyward Specialty Insurance Group in the 2nd quarter worth approximately $350,000. Arizona State Retirement System grew its stake in shares of Skyward Specialty Insurance Group by 10.5% in the 2nd quarter. Arizona State Retirement System now owns 11,062 shares of the company's stock worth $645,000 after buying an additional 1,054 shares during the last quarter. Nykredit A S purchased a new stake in shares of Skyward Specialty Insurance Group in the 2nd quarter worth approximately $37,000. Finally, Corient Private Wealth LP increased its position in Skyward Specialty Insurance Group by 46.7% during the 2nd quarter. Corient Private Wealth LP now owns 49,007 shares of the company's stock valued at $2,860,000 after buying an additional 15,597 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on SKWD. Truist Financial lifted their price objective on Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods increased their target price on Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Wall Street Zen upgraded Skyward Specialty Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Barclays lifted their price target on Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Finally, Texas Capital upgraded shares of Skyward Specialty Insurance Group to a "strong-buy" rating in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $70.00.

Skyward Specialty Insurance Group Stock Down 1.9%

Shares of NASDAQ SKWD opened at $54.84 on Thursday. The firm has a market cap of $2.43 billion, a P/E ratio of 12.78 and a beta of 0.33. Skyward Specialty Insurance Group, Inc. has a twelve month low of $40.60 and a twelve month high of $65.69. The company has a 50 day moving average of $58.74 and a 200 day moving average of $51.89.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $706.59 million. Skyward Specialty Insurance Group had a return on equity of 18.72% and a net margin of 10.84%. As a group, equities analysts expect that Skyward Specialty Insurance Group, Inc. will post 4.98 earnings per share for the current fiscal year.

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 specialty risks that may not be fully addressed by standard commercial insurance products.

Its offerings include commercial property and casualty insurance, professional liability, general liability, workers' compensation, commercial automobile coverage, surety, accident and health insurance, and other specialty solutions.

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