Principal Financial Group Inc. Increases Stock Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Principal Financial Group Inc. raised its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 49.8% in the third quarter, Holdings Channel reports. The institutional investor owned 104,105 shares of the company’s stock after acquiring an additional 34,612 shares during the period. Principal Financial Group Inc.’s holdings in Skyward Specialty Insurance Group were worth $4,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital International Investors boosted its stake in shares of Skyward Specialty Insurance Group by 48.0% during the 1st quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock worth $82,767,000 after purchasing an additional 717,972 shares during the period. Vanguard Group Inc. lifted its stake in shares of Skyward Specialty Insurance Group by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock worth $76,458,000 after purchasing an additional 207,744 shares during the last quarter. Driehaus Capital Management LLC grew its position in shares of Skyward Specialty Insurance Group by 2.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company’s stock worth $45,528,000 after buying an additional 34,286 shares during the last quarter. American Century Companies Inc. grew its holdings in Skyward Specialty Insurance Group by 9.2% in the second quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock worth $33,269,000 after purchasing an additional 77,354 shares during the last quarter. Finally, Emerald Advisers LLC increased its position in Skyward Specialty Insurance Group by 3.4% during the 3rd quarter. Emerald Advisers LLC now owns 874,581 shares of the company’s stock valued at $35,622,000 after buying an additional 28,618 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Stock Up 1.6 %

Shares of NASDAQ: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 firm’s 50 day moving average price is $44.79 and its 200 day moving average price is $40.00. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 0.93 and a beta of 0.53.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $300.89 million during the quarter, compared to analysts’ expectations of $292.43 million. During the same period in the previous year, the company earned $0.65 EPS. On average, equities analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current year.

Wall Street Analysts Forecast Growth

SKWD has been the topic of a number of research analyst reports. William Blair initiated coverage on shares of Skyward Specialty Insurance Group in a report on Monday, August 19th. They set an “outperform” rating on the stock. Keefe, Bruyette & Woods raised their price target 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. Truist Financial reaffirmed a “buy” rating and issued a $49.00 price objective (up from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. JMP Securities boosted their target price on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their price objective on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and a consensus target price of $46.89.

Skyward Specialty Insurance Group Company 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.