Wasatch Advisors LP Increases Holdings in Skyward Specialty Insurance Group, Inc. $SKWD

Wasatch Advisors LP boosted its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 198.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 954,489 shares of the company's stock after buying an additional 634,708 shares during the quarter. Wasatch Advisors LP owned approximately 2.35% of Skyward Specialty Insurance Group worth $55,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company raised its position in Skyward Specialty Insurance Group by 1.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 17,714 shares of the company's stock worth $774,000 after purchasing an additional 228 shares during the period. CWM LLC boosted its position in shares of Skyward Specialty Insurance Group by 19.4% during the fourth quarter. CWM LLC now owns 2,013 shares of the company's stock valued at $103,000 after purchasing an additional 327 shares in the last quarter. California State Teachers Retirement System lifted its position in Skyward Specialty Insurance Group by 0.9% during the 2nd quarter. California State Teachers Retirement System now owns 36,490 shares of the company's stock valued at $2,109,000 after acquiring an additional 341 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 6,536 shares of the company's stock valued at $334,000 after purchasing an additional 423 shares during the last quarter. Finally, Financial Management Professionals Inc. purchased a new position in shares of Skyward Specialty Insurance Group in the 4th quarter worth about $27,000. 94.83% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Anthony J. Kuczinski purchased 2,000 shares of the company's stock in a transaction dated Thursday, May 21st. The stock was acquired at an average price of $47.10 per share, with a total value of $94,200.00. Following the purchase, the director directly owned 15,977 shares in the company, valued at approximately $752,516.70. This represents a 14.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas N. Schmitt sold 8,397 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $51.32, for a total value of $430,934.04. Following the sale, the insider directly owned 10,353 shares of the company's stock, valued at $531,315.96. The trade was a 44.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 8.52% of the company's stock.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ:SKWD opened at $61.66 on Wednesday. Skyward Specialty Insurance Group, Inc. has a 1 year low of $40.60 and a 1 year high of $65.69. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 14.37 and a beta of 0.34. The business's 50 day moving average price is $56.75 and its 200-day moving average price is $49.35.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $1.30 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 19.61% and a net margin of 10.84%. On average, sell-side analysts expect that Skyward Specialty Insurance Group, Inc. will post 4.93 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on SKWD shares. Barclays increased their price objective on shares of Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded shares of Skyward Specialty Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday. Truist Financial lifted their price objective on shares of Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. TD Cowen raised their price target on Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the company a "hold" rating in a report on Tuesday. Finally, Capital One Financial set a $59.00 price objective on Skyward Specialty Insurance Group in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $68.64.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc NASDAQ: SKWD is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.

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