Rhumbline Advisers Acquires 15,126 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Rhumbline Advisers lifted its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 38.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 54,958 shares of the company’s stock after purchasing an additional 15,126 shares during the period. Rhumbline Advisers owned about 0.14% of Skyward Specialty Insurance Group worth $1,988,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ameritas Investment Partners Inc. boosted its position 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Skyward Specialty Insurance Group by 67.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock worth $204,000 after purchasing an additional 2,270 shares during the period. Diversified Trust Co lifted its position in Skyward Specialty Insurance Group by 26.3% during the 1st quarter. Diversified Trust Co now owns 11,775 shares of the company’s stock valued at $441,000 after acquiring an additional 2,450 shares during the period. American International Group Inc. lifted its position in Skyward Specialty Insurance Group by 23.7% during the 1st quarter. American International Group Inc. now owns 14,684 shares of the company’s stock valued at $549,000 after acquiring an additional 2,818 shares during the period. Finally, Champlain Investment Partners LLC increased its stake in Skyward Specialty Insurance Group by 0.3% during the 1st quarter. Champlain Investment Partners LLC now owns 1,405,980 shares of the company’s stock valued at $52,598,000 after purchasing an additional 4,510 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SKWD shares. JMP Securities lifted their price target on shares of Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods upped their target price on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Barclays assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $44.00 target price for the company. William Blair assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, August 19th. They set an “outperform” rating for the company. Finally, Piper Sandler increased their price objective on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.78.

Skyward Specialty Insurance Group Trading Up 2.2 %

Shares of SKWD opened at $40.70 on Friday. The company has a market cap of $1.63 billion, a P/E ratio of 14.96, a P/E/G ratio of 0.73 and a beta of 0.60. Skyward Specialty Insurance Group, Inc. has a twelve month low of $26.81 and a twelve month high of $42.26. The company’s fifty day simple moving average is $38.81 and its 200-day simple moving average is $37.12.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.65 by $0.15. The company had revenue of $279.94 million for the quarter, compared to the consensus estimate of $282.70 million. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. During the same quarter last year, the firm posted $0.42 EPS. Analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.96 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Katharine Terry sold 1,653 shares of the firm’s 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 sale, the director now directly owns 4,001 shares in the company, valued at approximately $147,516.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.01% of the company’s stock.

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.