Strs Ohio Invests $6.65 Million in Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Strs Ohio has acquired a new position in Skyward Specialty Insurance Group, purchasing 125,689 shares valued at approximately $6.65 million, indicating growing institutional interest in the company.
• The stock has seen price target adjustments, with Keefe, Bruyette & Woods raising their price objective from $67 to $72, while Piper Sandler lowered theirs from $69 to $59, reflecting varied analyst sentiments.
• Skyward Specialty Insurance Group reported earnings of $0.89 per share for the last quarter, surpassing estimates, although revenue fell slightly short of expectations, highlighting mixed results in its financial performance.

Strs Ohio purchased a new position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 125,689 shares of the company's stock, valued at approximately $6,651,000. Strs Ohio owned about 0.31% of Skyward Specialty Insurance Group at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ellsworth Advisors LLC lifted its position in Skyward Specialty Insurance Group by 7.9% during the first quarter. Ellsworth Advisors LLC now owns 14,430 shares of the company's stock worth $764,000 after buying an additional 1,061 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Skyward Specialty Insurance Group by 286.1% in the first quarter. Jane Street Group LLC now owns 33,768 shares of the company's stock valued at $1,787,000 after buying an additional 25,022 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Skyward Specialty Insurance Group by 16.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,804 shares of the company's stock valued at $5,282,000 after buying an additional 14,217 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Skyward Specialty Insurance Group in the first quarter valued at $1,126,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Skyward Specialty Insurance Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,096 shares of the company's stock valued at $1,169,000 after buying an additional 967 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SKWD. Keefe, Bruyette & Woods lifted their price objective on Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. Piper Sandler lowered 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. JMP Securities boosted their target price on Skyward Specialty Insurance Group from $65.00 to $70.00 and gave the company a "market outperform" rating in a report on Thursday, September 4th. Wall Street Zen cut Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Citigroup reaffirmed an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $60.78.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock opened at $46.07 on Monday. The stock has a fifty day moving average of $50.35 and a two-hundred day moving average of $53.90. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 14.49 and a beta of 0.61. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $38.53 and a fifty-two week high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.03. The company had revenue of $319.90 million during 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 last year, the business posted $0.80 earnings per share. On average, analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

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.

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