Kingswood Wealth Advisors LLC Makes New Investment in Skyward Specialty Insurance Group, Inc. $SKWD

Kingswood Wealth Advisors LLC bought a new position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,122 shares of the company’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Arizona State Retirement System grew its position in Skyward Specialty Insurance Group by 4.6% during the first quarter. Arizona State Retirement System now owns 10,329 shares of the company’s stock worth $547,000 after buying an additional 451 shares during the period. US Bancorp DE grew its position in shares of Skyward Specialty Insurance Group by 8.2% in the first quarter. US Bancorp DE now owns 5,935 shares of the company’s stock valued at $314,000 after purchasing an additional 451 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Skyward Specialty Insurance Group by 4.7% in the second quarter. Janney Montgomery Scott LLC now owns 10,756 shares of the company’s stock valued at $622,000 after purchasing an additional 479 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Skyward Specialty Insurance Group by 6.2% during the 1st quarter. Cetera Investment Advisers now owns 9,641 shares of the company’s stock worth $510,000 after purchasing an additional 566 shares in the last quarter. Finally, Moran Wealth Management LLC increased its stake in shares of Skyward Specialty Insurance Group by 6.2% during 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 in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD opened at $48.93 on Friday. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 15.39 and a beta of 0.58. The company’s 50 day simple moving average is $48.17 and its 200 day simple moving average is $53.43. Skyward Specialty Insurance Group, Inc. has a 1 year low of $41.28 and a 1 year high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.03. The business had revenue of $319.90 million for the quarter, compared to the consensus estimate of $324.64 million. Skyward Specialty Insurance Group had a net margin of 10.53% and a return on equity of 16.40%. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Equities analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SKWD. Janney Montgomery Scott began coverage on Skyward Specialty Insurance Group in a research note on Monday, October 6th. They issued a “buy” rating and a $60.00 target price on the stock. BMO Capital Markets upped their target price on Skyward Specialty Insurance Group from $52.00 to $55.00 and gave the company a “market perform” rating in a research note on Monday, September 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Skyward Specialty Insurance Group in a research note on Wednesday. Citigroup reaffirmed an “outperform” rating on shares of Skyward Specialty Insurance Group in a research note on Thursday, September 4th. Finally, Wall Street Zen lowered Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. One 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, Skyward Specialty Insurance Group presently has an average rating of “Moderate Buy” and an average price target of $60.70.

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.