Arizona State Retirement System Buys 1,854 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Arizona State Retirement System increased its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 24.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,516 shares of the company’s stock after purchasing an additional 1,854 shares during the quarter. Arizona State Retirement System’s holdings in Skyward Specialty Insurance Group were worth $344,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in Skyward Specialty Insurance Group by 15.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 232,644 shares of the company’s stock valued at $7,882,000 after acquiring an additional 30,746 shares during the last quarter. Norges Bank bought a new position in Skyward Specialty Insurance Group in the 4th quarter valued at $10,371,000. US Bancorp DE grew its position in Skyward Specialty Insurance Group by 62.9% in the 4th quarter. US Bancorp DE now owns 28,928 shares of the company’s stock valued at $980,000 after acquiring an additional 11,167 shares during the last quarter. Capstone Investment Advisors LLC grew its position in Skyward Specialty Insurance Group by 16.5% in the 4th quarter. Capstone Investment Advisors LLC now owns 64,057 shares of the company’s stock valued at $2,170,000 after acquiring an additional 9,057 shares during the last quarter. Finally, Alpha DNA Investment Management LLC bought a new position in Skyward Specialty Insurance Group in the 4th quarter valued at $525,000. Institutional investors own 94.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on SKWD. Piper Sandler upped 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. Barclays began coverage on Skyward Specialty Insurance Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $44.00 target price for the company. JMP Securities upped their target price on Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 6th. Truist Financial reiterated a “buy” rating and issued a $49.00 target price (up from $47.00) on shares of Skyward Specialty Insurance Group 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 research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.78.

Insider Activity

In other news, Director Katharine Terry sold 1,653 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $36.87, for a total value of $60,946.11. Following the transaction, the director now directly owns 4,001 shares of the company’s stock, valued at $147,516.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.01% of the company’s stock.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock opened at $39.65 on Wednesday. The stock has a 50-day moving average of $38.74 and a two-hundred day moving average of $37.10. Skyward Specialty Insurance Group, Inc. has a one year low of $25.38 and a one year high of $42.26. The stock has a market cap of $1.59 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 0.74 and a beta of 0.60.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.15. The business had revenue of $279.94 million for the quarter, compared to analyst estimates of $282.70 million. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. During the same period in the prior year, the company earned $0.42 earnings per share. As a group, sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.96 EPS for the current fiscal year.

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.