Allspring Global Investments Holdings LLC Sells 86,032 Shares of Skyward Specialty Insurance Group, Inc. $SKWD

Allspring Global Investments Holdings LLC reduced its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 29.7% in the 2nd quarter, Holdings Channel reports. The firm owned 203,576 shares of the company’s stock after selling 86,032 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Skyward Specialty Insurance Group were worth $11,494,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SKWD. SG Americas Securities LLC acquired a new stake in Skyward Specialty Insurance Group during the 1st quarter worth about $631,000. Janney Montgomery Scott LLC acquired a new stake in Skyward Specialty Insurance Group during the 1st quarter worth about $544,000. Oppenheimer Asset Management Inc. acquired a new stake in Skyward Specialty Insurance Group during the 1st quarter worth about $241,000. Moran Wealth Management LLC grew its holdings in Skyward Specialty Insurance Group by 6.2% during the 1st quarter. Moran Wealth Management LLC now owns 10,032 shares of the company’s stock worth $531,000 after acquiring an additional 585 shares during the period. Finally, Diversified Trust Co grew its holdings in Skyward Specialty Insurance Group by 11.4% during the 1st quarter. Diversified Trust Co now owns 18,379 shares of the company’s stock worth $973,000 after acquiring an additional 1,879 shares during the period. 94.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SKWD has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Janney Montgomery Scott initiated coverage on Skyward Specialty Insurance Group in a report on Monday, October 6th. They set a “buy” rating and a $60.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Skyward Specialty Insurance Group in a report on Wednesday, October 8th. BMO Capital Markets increased their price target on Skyward Specialty Insurance Group from $52.00 to $55.00 and gave the stock a “market perform” rating in a report on Monday, September 8th. Finally, Wolfe Research upgraded Skyward Specialty Insurance Group to an “outperform” rating in a research note on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.70.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD opened at $46.25 on Friday. The stock has a 50-day moving average of $48.11 and a 200-day moving average of $53.25. The company has a market cap of $1.87 billion, a PE ratio of 14.54 and a beta of 0.58. Skyward Specialty Insurance Group, Inc. has a one year low of $41.28 and a one year high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Wednesday, July 30th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.86 by $0.03. The company had revenue of $319.90 million during the quarter, compared to the consensus estimate of $324.64 million. Skyward Specialty Insurance Group had a return on equity of 16.40% and a net margin of 10.53%.During the same period last year, the business posted $0.80 EPS. Analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

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.