Royce & Associates LP Acquires New Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Royce & Associates LP bought a new position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 66,041 shares of the company’s stock, valued at approximately $2,690,000. Royce & Associates LP owned approximately 0.16% of Skyward Specialty Insurance Group at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Swiss National Bank lifted its position in shares of Skyward Specialty Insurance Group by 111.5% in the first quarter. Swiss National Bank now owns 55,000 shares of the company’s stock valued at $2,058,000 after acquiring an additional 29,000 shares in the last quarter. ProShare Advisors LLC purchased a new position in Skyward Specialty Insurance Group in the 1st quarter worth approximately $200,000. Vanguard Group Inc. boosted its stake in Skyward Specialty Insurance Group by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock worth $76,458,000 after purchasing an additional 207,744 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Skyward Specialty Insurance Group by 24.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock valued at $111,000 after buying an additional 579 shares in the last quarter. Finally, American International Group Inc. raised its position in shares of Skyward Specialty Insurance Group by 23.7% during the first quarter. American International Group Inc. now owns 14,684 shares of the company’s stock valued at $549,000 after buying an additional 2,818 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Stock Performance

Shares of Skyward Specialty Insurance Group stock opened at $51.32 on Wednesday. The stock has a 50 day moving average price of $44.28 and a 200-day moving average price of $39.83. Skyward Specialty Insurance Group, Inc. has a one year low of $29.40 and a one year high of $51.40. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 0.90 and a beta of 0.53.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The business had revenue of $300.89 million for the quarter, compared to analysts’ expectations of $292.43 million. During the same quarter in the previous year, the business posted $0.65 earnings per share. Sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on SKWD shares. Keefe, Bruyette & Woods raised their target price on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. JMP Securities raised their price objective on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Raymond James boosted their target price on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 5th. Piper Sandler raised their price target on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, William Blair started coverage on Skyward Specialty Insurance Group in a report on Monday, August 19th. They set an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.89.

About Skyward Specialty Insurance Group

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.