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

Wasatch Advisors LP increased its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 24.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 319,781 shares of the company’s stock after acquiring an additional 63,399 shares during the period. Wasatch Advisors LP owned approximately 0.72% of Skyward Specialty Insurance Group worth $13,968,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Campbell Newman Asset Management Inc. raised its holdings in Skyward Specialty Insurance Group by 3.2% during the first quarter. Campbell Newman Asset Management Inc. now owns 27,164 shares of the company’s stock worth $1,187,000 after purchasing an additional 846 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Skyward Specialty Insurance Group by 4.3% during the first quarter. Diversified Trust Co now owns 21,429 shares of the company’s stock worth $936,000 after buying an additional 875 shares in the last quarter. Invesco Ltd. raised its holdings in Skyward Specialty Insurance Group by 5.1% in the 4th quarter. Invesco Ltd. now owns 1,451,648 shares of the company’s stock valued at $74,194,000 after acquiring an additional 70,255 shares during the last quarter. Vident Advisory LLC acquired a new position in Skyward Specialty Insurance Group in the fourth quarter valued at $257,000. Finally, VARCOV Co. purchased a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth about $524,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Skyward Specialty Insurance Group news, Director Anthony J. Kuczinski bought 2,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were purchased at an average cost of $47.10 per share, for a total transaction of $94,200.00. Following the transaction, the director directly owned 15,977 shares in the company, valued at $752,516.70. The trade was a 14.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gena L. Ashe sold 740 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $46.35, for a total value of $34,299.00. Following the transaction, the director owned 4,570 shares of the company’s stock, valued at $211,819.50. This trade represents a 13.94% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 8.52% of the company’s stock.

Skyward Specialty Insurance Group Trading Up 6.8%

NASDAQ:SKWD opened at $59.19 on Friday. Skyward Specialty Insurance Group, Inc. has a 52 week low of $40.60 and a 52 week high of $59.81. The firm has a market capitalization of $2.40 billion, a PE ratio of 14.26 and a beta of 0.49. The stock has a 50 day moving average of $47.31 and a 200-day moving average of $46.71.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.12. The business had revenue of $475.87 million for the quarter, compared to analysts’ expectations of $665.12 million. Skyward Specialty Insurance Group had a net margin of 11.36% and a return on equity of 18.24%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 EPS. As a group, analysts predict that Skyward Specialty Insurance Group, Inc. will post 4.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SKWD has been the subject of a number of research reports. Keefe, Bruyette & Woods raised Skyward Specialty Insurance Group from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, March 13th. Barclays boosted their price objective on Skyward Specialty Insurance Group from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Wall Street Zen lowered Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Texas Capital upgraded Skyward Specialty Insurance Group to a “strong-buy” rating in a report on Tuesday, June 9th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Skyward Specialty Insurance Group in a report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

About Skyward Specialty Insurance Group

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.