Millennium Management LLC Purchases 65,755 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Millennium Management LLC increased its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 30.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 278,272 shares of the company’s stock after acquiring an additional 65,755 shares during the quarter. Millennium Management LLC owned approximately 0.70% of Skyward Specialty Insurance Group worth $10,068,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Squarepoint Ops LLC raised its holdings in shares of Skyward Specialty Insurance Group by 98.8% in the 2nd quarter. Squarepoint Ops LLC now owns 26,260 shares of the company’s stock valued at $950,000 after purchasing an additional 13,052 shares in the last quarter. Sandia Investment Management LP increased its holdings in Skyward Specialty Insurance Group by 250.0% during the second quarter. Sandia Investment Management LP now owns 17,500 shares of the company’s stock valued at $633,000 after buying an additional 12,500 shares during the period. Marshall Wace LLP bought a new position in Skyward Specialty Insurance Group in the second quarter worth approximately $10,152,000. Thrivent Financial for Lutherans purchased a new stake in Skyward Specialty Insurance Group during the second quarter worth $964,000. Finally, Amalgamated Bank lifted its holdings in Skyward Specialty Insurance Group by 27.7% during the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after buying an additional 279 shares during the period. 94.83% of the stock is currently owned by institutional investors.

Insider Activity at Skyward Specialty Insurance Group

In other news, Director Katharine Terry sold 1,653 shares of the company’s 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 sale, the director now owns 4,001 shares in the company, valued at $147,516.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.01% of the stock is currently owned by insiders.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD opened at $42.83 on Wednesday. The firm has a market capitalization of $1.71 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 0.77 and a beta of 0.60. The company’s fifty day moving average price is $39.64 and its 200-day moving average price is $37.62. Skyward Specialty Insurance Group, Inc. has a 1-year low of $27.12 and a 1-year high of $44.62.

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

Analyst Upgrades and Downgrades

SKWD has been the subject of several recent research reports. Oppenheimer started coverage on Skyward Specialty Insurance Group in a research report on Friday, July 12th. They issued a “market perform” rating for the company. Barclays started coverage on shares of 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. William Blair started coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, August 19th. They set an “outperform” rating for the company. JMP Securities lifted their price objective on shares of Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods increased their target price 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 investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.78.

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.