19,897 Shares in Skyward Specialty Insurance Group, Inc. $SKWD Purchased by Man Group plc

Man Group plc acquired a new position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 19,897 shares of the company’s stock, valued at approximately $1,161,000.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Skyward Specialty Insurance Group in the second quarter worth about $214,576,000. Reinhart Partners LLC. raised its holdings in shares of Skyward Specialty Insurance Group by 49.8% during the fourth quarter. Reinhart Partners LLC. now owns 2,416,753 shares of the company’s stock valued at $123,521,000 after acquiring an additional 803,217 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of Skyward Specialty Insurance Group by 411.7% during the third quarter. Balyasny Asset Management L.P. now owns 947,170 shares of the company’s stock valued at $45,047,000 after acquiring an additional 762,079 shares during the period. Wasatch Advisors LP raised its holdings in shares of Skyward Specialty Insurance Group by 198.5% during the second quarter. Wasatch Advisors LP now owns 954,489 shares of the company’s stock valued at $55,694,000 after acquiring an additional 634,708 shares during the period. Finally, Freestone Grove Partners LP purchased a new stake in shares of Skyward Specialty Insurance Group in the 3rd quarter valued at approximately $24,234,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Stock Performance

SKWD stock opened at $56.32 on Thursday. The stock has a market cap of $2.50 billion, a P/E ratio of 13.13 and a beta of 0.33. The firm has a 50 day simple moving average of $59.56 and a 200 day simple moving average of $50.81. Skyward Specialty Insurance Group, Inc. has a 52 week low of $40.60 and a 52 week high of $65.69.

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, beating 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 18.72%. The firm had revenue of $489.53 million for the quarter, compared to analyst estimates of $706.59 million. Sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 4.98 EPS for the current year.

Insider Activity at Skyward Specialty Insurance Group

In other news, insider Thomas N. Schmitt sold 8,397 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $51.32, for a total value of $430,934.04. Following the transaction, the insider directly owned 10,353 shares of the company’s stock, valued at approximately $531,315.96. This represents a 44.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.52% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Truist Financial raised their price objective on shares of Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Texas Capital upgraded Skyward Specialty Insurance Group to a “strong-buy” rating in a report on Tuesday, June 9th. Weiss Ratings raised Skyward Specialty Insurance Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 25th. Keefe, Bruyette & Woods lifted their price target on Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Finally, Piper Sandler reissued an “overweight” rating on shares of Skyward Specialty Insurance Group in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.64.

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.