Driehaus Capital Management LLC Acquires 34,286 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Driehaus Capital Management LLC grew its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,258,383 shares of the company’s stock after acquiring an additional 34,286 shares during the period. Driehaus Capital Management LLC owned 3.15% of Skyward Specialty Insurance Group worth $45,528,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake 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 worth $7,882,000 after purchasing an additional 30,746 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Skyward Specialty Insurance Group during the first quarter valued at $1,672,000. Allspring Global Investments Holdings LLC boosted its stake in Skyward Specialty Insurance Group by 19.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 464,667 shares of the company’s stock valued at $17,383,000 after buying an additional 75,137 shares during the period. Swiss National Bank grew its position in Skyward Specialty Insurance Group by 111.5% during the first quarter. Swiss National Bank now owns 55,000 shares of the company’s stock worth $2,058,000 after buying an additional 29,000 shares in the last quarter. Finally, Capstone Investment Advisors LLC increased its stake in Skyward Specialty Insurance Group by 68.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 107,796 shares of the company’s stock worth $4,033,000 after acquiring an additional 43,739 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SKWD shares. Oppenheimer assumed coverage on Skyward Specialty Insurance Group in a report on Friday, July 12th. They set a “market perform” rating for the company. JMP Securities boosted 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. Truist Financial reissued a “buy” rating and issued a $49.00 target price (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research note on Wednesday, August 7th. Piper Sandler upped their price objective 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, Keefe, Bruyette & Woods increased their price target on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.78.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director Katharine Terry sold 1,653 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $36.87, for a total transaction of $60,946.11. Following the sale, the director now owns 4,001 shares in the company, valued at approximately $147,516.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 8.01% of the company’s stock.

Skyward Specialty Insurance Group Trading Down 0.6 %

SKWD stock opened at $40.96 on Friday. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 0.77 and a beta of 0.60. Skyward Specialty Insurance Group, Inc. has a 12-month low of $26.81 and a 12-month high of $42.26. The firm’s 50-day moving average price is $39.17 and its two-hundred day moving average price is $37.37.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.15. The firm 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 last year, the company earned $0.42 EPS. Equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.96 EPS for the current 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.