Royce & Associates LP Acquires New Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Royce & Associates LP bought a new position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 66,041 shares of the company’s stock, valued at approximately $2,690,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Arcadia Investment Management Corp MI bought a new stake in shares of Skyward Specialty Insurance Group during the third quarter valued at approximately $41,000. Amalgamated Bank lifted its holdings in shares of Skyward Specialty Insurance Group by 27.7% in 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 period. Ameritas Investment Partners Inc. grew its position in shares of Skyward Specialty Insurance Group by 24.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock worth $111,000 after buying an additional 579 shares in the last quarter. CWM LLC increased its stake in shares of 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 period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Skyward Specialty Insurance Group in the second quarter valued at about $160,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD stock opened at $51.32 on Wednesday. The stock’s fifty day moving average price is $44.28 and its 200 day moving average price is $39.83. Skyward Specialty Insurance Group, Inc. has a 1-year low of $29.40 and a 1-year high of $51.40. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 0.90 and a beta of 0.53.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.06. The firm had revenue of $300.89 million for the quarter, compared to the consensus estimate of $292.43 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same quarter in the prior year, the company posted $0.65 earnings per share. As a group, equities research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current year.

Analyst Ratings Changes

SKWD has been the topic of several recent research reports. Barclays increased their target price on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Truist Financial reiterated a “buy” rating and set a $49.00 price objective (up from $47.00) on shares of Skyward Specialty Insurance Group in a research note on Wednesday, August 7th. Jefferies Financial Group boosted their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods increased their target price on 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. Finally, JMP Securities boosted their price target on 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. 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.89.

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.