Wasatch Advisors LP Boosts Stake in Skyward Specialty Insurance Group, Inc. $SKWD

Wasatch Advisors LP raised its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 198.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 954,489 shares of the company’s stock after buying an additional 634,708 shares during the quarter. Wasatch Advisors LP’s holdings in Skyward Specialty Insurance Group were worth $55,694,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Reinhart Partners LLC. lifted its position in Skyward Specialty Insurance Group by 49.8% during the 4th quarter. Reinhart Partners LLC. now owns 2,416,753 shares of the company’s stock worth $123,521,000 after acquiring an additional 803,217 shares during the period. Balyasny Asset Management L.P. grew its position in Skyward Specialty Insurance Group by 411.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 947,170 shares of the company’s stock valued at $45,047,000 after buying an additional 762,079 shares during the last quarter. Freestone Grove Partners LP acquired a new position in Skyward Specialty Insurance Group in the 3rd quarter valued at $24,234,000. Sei Investments Co. raised its position in Skyward Specialty Insurance Group by 397.5% during the 1st quarter. Sei Investments Co. now owns 433,298 shares of the company’s stock worth $18,926,000 after buying an additional 346,202 shares during the last quarter. Finally, Langdon Equity Partners acquired a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter worth $16,965,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Trading Down 0.5%

SKWD stock opened at $61.66 on Wednesday. The firm has a market cap of $2.74 billion, a P/E ratio of 14.37 and a beta of 0.34. Skyward Specialty Insurance Group, Inc. has a 12-month low of $40.60 and a 12-month high of $65.69. The stock’s 50 day simple moving average is $56.75 and its 200 day simple moving average is $49.35.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.13. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 19.61%. The firm had revenue of $489.53 million for the quarter, compared to analyst estimates of $706.59 million. On average, research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 4.93 EPS for the current fiscal year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, insider Thomas N. Schmitt sold 8,397 shares of the business’s stock in a transaction on 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 owned 10,353 shares of the company’s stock, valued at approximately $531,315.96. The trade was a 44.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anthony J. Kuczinski purchased 2,000 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was acquired at an average cost of $47.10 per share, with a total value of $94,200.00. Following the completion of the acquisition, the director directly owned 15,977 shares in the company, valued at $752,516.70. The trade was a 14.31% increase in their position. The SEC filing for this purchase provides additional information. 8.52% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Weiss Ratings raised shares of Skyward Specialty Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 8th. Capital One Financial set a $59.00 target price on shares of Skyward Specialty Insurance Group in a research report on Tuesday, June 9th. Keefe, Bruyette & Woods upped their target price on Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday. TD Cowen upped their price objective on shares of Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, Piper Sandler increased their price objective on shares of Skyward Specialty Insurance Group from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.