Vanguard Group Inc. Purchases 227,921 Shares of Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Vanguard Group Inc. increased its stake in Skyward Specialty Insurance Group by 10% during the first quarter, acquiring an additional 227,921 shares for a total ownership of approximately 6.21% of the company, valued at $132.47 million.
• Insider activity was noted as CFO Mark W. Haushill sold 52,748 shares on June 13th, which resulted in a 28.30% decrease in his position, leaving him with shares valued at approximately $7.85 million.
• Analysts have varied ratings on Skyward Specialty, with a consensus rating of "Moderate Buy", targeting an average price of $60.88, while recent adjustments include a price increase from $60.00 to $65.00 by JMP Securities.

Vanguard Group Inc. raised its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 10.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,503,156 shares of the company's stock after purchasing an additional 227,921 shares during the quarter. Vanguard Group Inc. owned 6.21% of Skyward Specialty Insurance Group worth $132,467,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the 1st quarter valued at about $631,000. Janney Montgomery Scott LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the 1st quarter valued at about $544,000. GAMMA Investing LLC raised its stake in shares of Skyward Specialty Insurance Group by 6,374.4% in the 1st quarter. GAMMA Investing LLC now owns 17,675 shares of the company's stock valued at $935,000 after purchasing an additional 17,402 shares during the period. Penserra Capital Management LLC bought a new position in shares of Skyward Specialty Insurance Group in the 1st quarter valued at about $1,280,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 36.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 103,016 shares of the company's stock valued at $5,452,000 after acquiring an additional 27,669 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Insider Buying and Selling

In related news, CFO Mark W. Haushill sold 52,748 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $58.76, for a total transaction of $3,099,472.48. Following the completion of the transaction, the chief financial officer owned 133,629 shares in the company, valued at approximately $7,852,040.04. This trade represents a 28.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.01% of the company's stock.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock traded down $0.14 during midday trading on Wednesday, reaching $48.63. 341,993 shares of the company's stock were exchanged, compared to its average volume of 414,440. Skyward Specialty Insurance Group, Inc. has a 52 week low of $37.79 and a 52 week high of $65.05. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 15.29 and a beta of 0.62. The stock's 50-day simple moving average is $52.33 and its 200 day simple moving average is $53.94.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $319.90 million during the quarter, compared to analysts' expectations of $324.64 million. During the same quarter last year, the company posted $0.80 earnings per share. Research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

SKWD has been the subject of several analyst reports. JMP Securities raised their price objective on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods raised their price objective on Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 29th. Truist Financial raised their price objective on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a "buy" rating in a report on Monday, May 5th. Wall Street Zen cut Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Citigroup restated an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $60.88.

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.