Sterling Capital Management LLC decreased its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD – Free Report) by 94.2% during the third quarter, Holdings Channel reports. The institutional investor owned 1,082 shares of the company’s stock after selling 17,505 shares during the quarter. Sterling Capital Management LLC’s holdings in Skyward Specialty Insurance Group were worth $57,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC acquired a new position in Skyward Specialty Insurance Group in the first quarter valued at approximately $37,000. Nykredit A S purchased a new stake in Skyward Specialty Insurance Group in the 2nd quarter worth approximately $37,000. Fifth Third Bancorp purchased a new stake in Skyward Specialty Insurance Group in the 1st quarter worth approximately $60,000. KBC Group NV grew its stake in shares of Skyward Specialty Insurance Group by 73.2% during the 1st quarter. KBC Group NV now owns 1,780 shares of the company’s stock worth $78,000 after purchasing an additional 752 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Skyward Specialty Insurance Group by 632.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,074 shares of the company’s stock worth $91,000 after purchasing an additional 1,791 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on SKWD. Truist Financial lifted their target price on shares of Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wall Street Zen raised shares of Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a report on Sunday, October 18th. TD Cowen raised their price target on shares of Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, August 11th. Keefe, Bruyette & Woods raised their price target on shares of Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Skyward Specialty Insurance Group in a report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.11.
Check Out Our Latest Analysis on Skyward Specialty Insurance Group
Skyward Specialty Insurance Group Trading Up 2.2%
NASDAQ SKWD opened at $62.22 on Thursday. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 14.50 and a beta of 0.32. Skyward Specialty Insurance Group, Inc. has a twelve month low of $40.60 and a twelve month high of $65.69. The stock has a 50-day moving average of $57.82 and a 200 day moving average of $51.84.
Skyward Specialty Insurance Group (NASDAQ:SKWD – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. Skyward Specialty Insurance Group had a return on equity of 18.72% and a net margin of 10.84%. The company had revenue of $489.53 million for the quarter, compared to analyst estimates of $706.59 million. Equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 5.00 EPS for the current fiscal year.
Skyward Specialty Insurance Group Company Profile
Skyward Specialty Insurance Group, Inc is a specialty property and casualty insurance company headquartered in Houston, Texas. Through its insurance subsidiaries, the company provides customized coverage for businesses and organizations that may be underserved by the standard insurance market.
Its offerings include excess and surplus lines insurance, professional liability, healthcare liability, workers’ compensation, surety, commercial property and casualty coverage, specialty programs, and accident and health products.
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