Federated Hermes Inc. Boosts Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Federated Hermes Inc. raised its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 312.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 412,382 shares of the company's stock after acquiring an additional 312,413 shares during the quarter. Federated Hermes Inc. owned approximately 1.09% of Skyward Specialty Insurance Group worth $13,972,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Amalgamated Bank lifted its stake in shares of Skyward Specialty Insurance Group by 90.9% during the 3rd quarter. Amalgamated Bank now owns 2,300 shares of the company's stock valued at $63,000 after buying an additional 1,095 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Skyward Specialty Insurance Group by 54.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company's stock valued at $114,000 after buying an additional 1,186 shares in the last quarter. Adalta Capital Management LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the 3rd quarter valued at approximately $137,000. International Assets Investment Management LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter valued at approximately $161,000. Finally, New York State Common Retirement Fund lifted its stake in shares of Skyward Specialty Insurance Group by 82.2% during the 3rd quarter. New York State Common Retirement Fund now owns 6,895 shares of the company's stock valued at $189,000 after buying an additional 3,110 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SKWD has been the topic of a number of recent research reports. Truist Financial upped their price target on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a "buy" rating in a research note on Thursday, February 22nd. Piper Sandler upped their target price on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an "overweight" rating in a report on Monday, April 1st. Wolfe Research began coverage on shares of Skyward Specialty Insurance Group in a report on Thursday, January 11th. They set an "outperform" rating and a $39.00 target price on the stock. JMP Securities upped their target price on shares of Skyward Specialty Insurance Group from $40.00 to $42.00 and gave the stock a "market outperform" rating in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an "outperform" rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of "Buy" and a consensus price target of $39.89.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD stock traded down $0.01 on Tuesday, hitting $36.52. 181,164 shares of the company's stock traded hands, compared to its average volume of 306,716. Skyward Specialty Insurance Group, Inc. has a one year low of $20.81 and a one year high of $38.64. The company's fifty day simple moving average is $36.05 and its 200 day simple moving average is $32.99. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 16.30 and a beta of 0.45.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its earnings results on Tuesday, February 20th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.56 by $0.05. Skyward Specialty Insurance Group had a net margin of 9.56% and a return on equity of 14.31%. The company had revenue of $321.60 million for the quarter, compared to analyst estimates of $320.34 million. During the same quarter last year, the firm earned $0.36 EPS. The firm's quarterly revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 2.64 earnings per share for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In related news, CFO Mark W. Haushill sold 35,000 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the transaction, the chief financial officer now owns 261,688 shares of the company's stock, valued at approximately $9,410,300.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 35,000 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the completion of the sale, the chief financial officer now owns 261,688 shares of the company's stock, valued at approximately $9,410,300.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Haushill sold 25,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $35.58, for a total transaction of $889,500.00. Following the sale, the chief financial officer now directly owns 236,688 shares of the company's stock, valued at approximately $8,421,359.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,890 shares of company stock valued at $3,533,839. Insiders own 8.01% of the company's stock.

Skyward Specialty Insurance Group 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.