Riverwater Partners LLC Grows Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Riverwater Partners LLC raised its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,013 shares of the company’s stock after purchasing an additional 862 shares during the quarter. Riverwater Partners LLC’s holdings in Skyward Specialty Insurance Group were worth $1,770,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SKWD. ORG Wealth Partners LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter worth about $61,000. Quarry LP boosted its stake in Skyward Specialty Insurance Group by 176.9% in the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after purchasing an additional 879 shares during the period. Pinnacle Financial Partners Inc purchased a new stake in Skyward Specialty Insurance Group during the 4th quarter valued at approximately $220,000. Ashton Thomas Private Wealth LLC purchased a new stake in Skyward Specialty Insurance Group during the 4th quarter valued at approximately $230,000. Finally, Kirr Marbach & Co. LLC IN purchased a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth $252,000. 94.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Wolfe Research restated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Piper Sandler reduced their target price on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. JMP Securities reissued a “market outperform” rating and set a $60.00 price target on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Finally, Barclays raised Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $53.00 to $63.00 in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.25.

Skyward Specialty Insurance Group Stock Performance

NASDAQ SKWD opened at $49.54 on Friday. The company has a market cap of $2.00 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.81 and a beta of 0.67. The business’s 50 day moving average price is $49.68 and its 200-day moving average price is $48.01. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $33.27 and a fifty-two week high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The business had revenue of $304.40 million for the quarter, compared to the consensus estimate of $295.56 million. As a group, equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Insider Buying and Selling

In other news, insider Thomas N. Schmitt sold 6,300 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $51.92, for a total value of $327,096.00. Following the sale, the insider now directly owns 3,946 shares in the company, valued at approximately $204,876.32. This represents a 61.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John A. Burkhart III sold 4,832 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the transaction, the insider now owns 17,655 shares of the company’s stock, valued at approximately $886,987.20. The trade was a 21.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,369 shares of company stock valued at $725,173 in the last ninety days. 8.01% of the stock is owned by company insiders.

Skyward Specialty Insurance Group 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.