Thrivent Financial for Lutherans Sells 7,756 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Thrivent Financial for Lutherans cut its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 29.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,908 shares of the company’s stock after selling 7,756 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Skyward Specialty Insurance Group were worth $770,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new stake in Skyward Specialty Insurance Group during the third quarter worth $41,000. Amalgamated Bank lifted its position in shares of Skyward Specialty Insurance Group by 27.7% during the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after buying an additional 279 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Skyward Specialty Insurance Group in the second quarter valued at about $160,000. CWM LLC boosted its stake in Skyward Specialty Insurance Group by 3,103.1% in 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Skyward Specialty Insurance Group by 67.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock worth $204,000 after acquiring an additional 2,270 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. JMP Securities raised their price target on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Truist Financial reiterated a “buy” rating and set a $49.00 price target (up from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. Piper Sandler raised 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. Jefferies Financial Group upped their target price on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Raymond James lifted their price target on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 5th. Three research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.89.

Skyward Specialty Insurance Group Stock Up 0.4 %

Shares of NASDAQ SKWD opened at $54.16 on Wednesday. The company has a market capitalization of $2.17 billion, a PE ratio of 16.51, a P/E/G ratio of 0.98 and a beta of 0.76. The firm has a fifty day simple moving average of $46.68 and a 200 day simple moving average of $40.86. Skyward Specialty Insurance Group, Inc. has a twelve month low of $29.40 and a twelve month high of $54.86.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data 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 return on equity of 16.39% and a net margin of 12.24%. The company had revenue of $300.89 million for the quarter, compared to the consensus estimate of $292.43 million. During the same period in the previous year, the business earned $0.65 EPS. As a group, equities analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current fiscal year.

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.