WCM Investment Management LLC Lowers Holdings in Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• WCM Investment Management LLC reduced its stake in Skyward Specialty Insurance Group by 1.2%, owning 439,860 shares valued at approximately $25 million after selling 5,152 shares in the second quarter.
• Skyward Specialty Insurance Group's stock has a current market capitalization of $2.01 billion and its shares are trading lower, with a recent price of $49.62.
• Analysts have a consensus rating of Moderate Buy for Skyward Specialty Insurance Group, with a consensus price target of $60.70, following recent upgrades from several research firms.

WCM Investment Management LLC lessened its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 439,860 shares of the company's stock after selling 5,152 shares during the quarter. WCM Investment Management LLC owned 1.09% of Skyward Specialty Insurance Group worth $25,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of SKWD. SG Americas Securities LLC purchased a new position in shares of Skyward Specialty Insurance Group in the 1st quarter worth about $631,000. Janney Montgomery Scott LLC purchased a new position in shares of Skyward Specialty Insurance Group in the 1st quarter worth about $544,000. ORG Wealth Partners LLC raised its position in shares of Skyward Specialty Insurance Group by 86.9% in the 1st quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company's stock worth $123,000 after purchasing an additional 1,057 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Skyward Specialty Insurance Group in the 1st quarter worth about $241,000. Finally, Moran Wealth Management LLC raised its position in shares of Skyward Specialty Insurance Group by 6.2% in the 1st quarter. Moran Wealth Management LLC now owns 10,032 shares of the company's stock worth $531,000 after purchasing an additional 585 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SKWD. JMP Securities lifted their price target on Skyward Specialty Insurance Group from $65.00 to $70.00 and gave the stock a "market outperform" rating in a research report on Thursday, September 4th. Weiss Ratings restated a "buy (b)" rating on shares of Skyward Specialty Insurance Group in a research note on Wednesday, October 8th. Citigroup restated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Thursday, September 4th. Wolfe Research upgraded shares of Skyward Specialty Insurance Group to an "outperform" rating in a research note on Monday, September 15th. Finally, Wall Street Zen cut shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.70.

Skyward Specialty Insurance Group Stock Down 1.9%

Shares of NASDAQ:SKWD opened at $49.62 on Thursday. The firm's 50 day moving average price is $48.25 and its 200-day moving average price is $53.37. Skyward Specialty Insurance Group, Inc. has a twelve month low of $41.28 and a twelve month high of $65.05. The stock has a market capitalization of $2.01 billion, a PE ratio of 15.60 and a beta of 0.58.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its quarterly earnings data 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. Skyward Specialty Insurance Group had a net margin of 10.53% and a return on equity of 16.40%. The firm had revenue of $319.90 million for the quarter, compared to analysts' expectations of $324.64 million. During the same quarter in the prior year, the business earned $0.80 EPS. Analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share 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.

Want to see what other hedge funds are holding SKWD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.