Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Shares Purchased by Emerald Advisers LLC

Emerald Advisers LLC grew its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 874,581 shares of the company’s stock after acquiring an additional 28,618 shares during the period. Skyward Specialty Insurance Group comprises about 1.4% of Emerald Advisers LLC’s investment portfolio, making the stock its 15th biggest holding. Emerald Advisers LLC’s holdings in Skyward Specialty Insurance Group were worth $35,622,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in Skyward Specialty Insurance Group by 19.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 464,667 shares of the company’s stock valued at $17,383,000 after purchasing an additional 75,137 shares during the last quarter. Swiss National Bank raised its position in shares of Skyward Specialty Insurance Group by 111.5% in the 1st quarter. Swiss National Bank now owns 55,000 shares of the company’s stock valued at $2,058,000 after purchasing an additional 29,000 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Skyward Specialty Insurance Group during the 2nd quarter valued at approximately $10,152,000. American Century Companies Inc. grew its position in shares of Skyward Specialty Insurance Group by 9.2% during the second quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock worth $33,269,000 after buying an additional 77,354 shares in the last quarter. Finally, Capital International Investors increased its stake in shares of Skyward Specialty Insurance Group by 48.0% in the first quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock worth $82,767,000 after buying an additional 717,972 shares during the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD traded down $0.51 during mid-day trading on Friday, reaching $43.70. 259,303 shares of the company’s stock traded hands, compared to its average volume of 374,718. The business’s 50-day moving average price is $42.39 and its 200-day moving average price is $38.72. The stock has a market capitalization of $1.75 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 0.82 and a beta of 0.53. Skyward Specialty Insurance Group, Inc. has a 12 month low of $27.56 and a 12 month high of $48.40.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.06. Skyward Specialty Insurance Group had a return on equity of 17.01% and a net margin of 12.24%. The firm had revenue of $300.89 million for the quarter, compared to the consensus estimate of $292.43 million. During the same quarter in the previous year, the business earned $0.65 EPS. Equities research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 2.98 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on SKWD. Oppenheimer assumed coverage on shares of Skyward Specialty Insurance Group in a research note on Friday, July 12th. They set a “market perform” rating on the stock. Truist Financial reaffirmed a “buy” rating and set a $49.00 price target (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research report on Wednesday, August 7th. Barclays boosted their price objective on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday. Piper Sandler increased their target price on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock 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 issued an “outperform” rating for the company. Three investment 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.22.

Insider Activity at Skyward Specialty Insurance Group

In related news, Director Katharine Terry sold 1,653 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $36.87, for a total value of $60,946.11. Following the completion of the transaction, the director now owns 4,001 shares in the company, valued at $147,516.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 8.01% of the company’s stock.

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.