The Manufacturers Life Insurance Company Buys 1,032 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

The Manufacturers Life Insurance Company grew its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 336,882 shares of the company’s stock after purchasing an additional 1,032 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Skyward Specialty Insurance Group were worth $13,721,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Skyward Specialty Insurance Group by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock valued at $76,458,000 after buying an additional 207,744 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Skyward Specialty Insurance Group by 439.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 71,909 shares of the company’s stock worth $2,691,000 after purchasing an additional 58,578 shares during the period. Janus Henderson Group PLC lifted its position in shares of Skyward Specialty Insurance Group by 311.2% during the 1st quarter. Janus Henderson Group PLC now owns 27,530 shares of the company’s stock worth $1,029,000 after purchasing an additional 20,835 shares during the last quarter. California State Teachers Retirement System boosted its stake in Skyward Specialty Insurance Group by 79.2% during the 1st quarter. California State Teachers Retirement System now owns 28,076 shares of the company’s stock valued at $1,050,000 after purchasing an additional 12,410 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Skyward Specialty Insurance Group in the 2nd quarter valued at approximately $1,601,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Stock Up 0.8 %

Shares of SKWD opened at $54.11 on Monday. The company has a 50-day moving average price of $46.43 and a two-hundred day moving average price of $40.70. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 0.98 and a beta of 0.53. Skyward Specialty Insurance Group, Inc. has a 12 month low of $29.40 and a 12 month high of $54.86.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, topping the consensus estimate 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 business had revenue of $300.89 million during the quarter, compared to the consensus estimate of $292.43 million. During the same quarter last year, the company earned $0.65 EPS. Equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current fiscal year.

Analysts Set New Price Targets

SKWD has been the subject of several research reports. William Blair started coverage on Skyward Specialty Insurance Group in a research report on Monday, August 19th. They issued an “outperform” rating for the company. 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 report on Monday, August 12th. JMP Securities boosted their price objective on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Raymond James increased their target price on shares of 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. Finally, Truist Financial restated a “buy” rating and set a $49.00 price target (up from $47.00) on shares of Skyward Specialty Insurance Group in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.