Principal Financial Group Inc. Has $4.24 Million Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Principal Financial Group Inc. increased its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 49.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 104,105 shares of the company’s stock after buying an additional 34,612 shares during the period. Principal Financial Group Inc. owned about 0.26% of Skyward Specialty Insurance Group worth $4,240,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Arcadia Investment Management Corp MI bought a new position in Skyward Specialty Insurance Group during the third quarter valued at approximately $41,000. Amalgamated Bank lifted its holdings in Skyward Specialty Insurance Group by 27.7% in the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock valued at $46,000 after acquiring an additional 279 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Skyward Specialty Insurance Group by 24.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock worth $111,000 after purchasing an additional 579 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Skyward Specialty Insurance Group during the second quarter valued at about $160,000. Finally, CWM LLC boosted its stake in Skyward Specialty Insurance Group by 3,103.1% during the third quarter. CWM LLC now owns 4,132 shares of the company’s stock valued at $168,000 after buying an additional 4,003 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Piper Sandler lifted their price objective 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. Barclays increased their target price on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. William Blair began coverage on Skyward Specialty Insurance Group in a research report on Monday, August 19th. They issued an “outperform” rating on the stock. JMP Securities lifted their price objective on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their price objective on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.89.

Skyward Specialty Insurance Group Stock Up 1.6 %

SKWD opened at $52.27 on Friday. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $29.40 and a fifty-two week high of $52.73. The business has a fifty day simple moving average of $44.79 and a 200-day simple moving average of $40.00. The firm has a market cap of $2.10 billion, a PE ratio of 15.94, a P/E/G ratio of 0.93 and a beta of 0.53.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) 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 company had revenue of $300.89 million during the quarter, compared to analyst estimates of $292.43 million. During the same quarter last year, the business posted $0.65 EPS. On average, equities research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current fiscal year.

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.