Engle Capital Management L.P. Sells 60,895 Shares of Skyward Specialty Insurance Group, Inc. $SKWD

Engle Capital Management L.P. lessened its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 31.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 133,105 shares of the company’s stock after selling 60,895 shares during the quarter. Skyward Specialty Insurance Group comprises about 2.3% of Engle Capital Management L.P.’s portfolio, making the stock its 18th largest holding. Engle Capital Management L.P.’s holdings in Skyward Specialty Insurance Group were worth $7,692,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Caitong International Asset Management Co. Ltd raised its holdings in Skyward Specialty Insurance Group by 2,223.1% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 604 shares of the company’s stock valued at $35,000 after acquiring an additional 578 shares during the period. LRI Investments LLC boosted its holdings in shares of Skyward Specialty Insurance Group by 39.4% during the second quarter. LRI Investments LLC now owns 1,756 shares of the company’s stock worth $101,000 after acquiring an additional 496 shares during the period. State of Wyoming grew its position in shares of Skyward Specialty Insurance Group by 52.4% in the first quarter. State of Wyoming now owns 2,435 shares of the company’s stock valued at $129,000 after purchasing an additional 837 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Skyward Specialty Insurance Group in the second quarter valued at approximately $134,000. Finally, Advisors Asset Management Inc. bought a new position in shares of Skyward Specialty Insurance Group during the second quarter worth approximately $144,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Stock Performance

SKWD opened at $49.71 on Friday. The firm has a market cap of $2.01 billion, a P/E ratio of 14.66 and a beta of 0.55. Skyward Specialty Insurance Group, Inc. has a 52-week low of $41.28 and a 52-week high of $65.05. The business’s fifty day moving average is $47.50 and its 200-day moving average is $50.80.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.20. The business had revenue of $382.53 million during the quarter, compared to analysts’ expectations of $334.54 million. Skyward Specialty Insurance Group had a net margin of 10.57% and a return on equity of 17.30%. During the same quarter in the prior year, the business posted $0.71 earnings per share. On average, research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SKWD shares. Zacks Research upgraded Skyward Specialty Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Raymond James Financial set a $66.00 target price on Skyward Specialty Insurance Group in a report on Friday, December 5th. Piper Sandler boosted their target price on shares of Skyward Specialty Insurance Group from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. BMO Capital Markets raised their price target on shares of Skyward Specialty Insurance Group from $52.00 to $55.00 and gave the stock a “market perform” rating in a research report on Monday, September 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Skyward Specialty Insurance Group from $64.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.27.

Skyward Specialty Insurance Group Company 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.