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

Royce & Associates LP bought a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 66,041 shares of the company's stock, valued at approximately $2,690,000. Royce & Associates LP owned 0.16% of Skyward Specialty Insurance Group at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Arcadia Investment Management Corp MI acquired a new stake in Skyward Specialty Insurance Group during the third quarter valued at $41,000. Amalgamated Bank lifted its holdings in shares of Skyward Specialty Insurance Group by 27.7% during the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company's stock valued at $46,000 after buying an additional 279 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Skyward Specialty Insurance Group by 24.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company's stock valued at $111,000 after buying an additional 579 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Skyward Specialty Insurance Group in the second quarter worth approximately $160,000. Finally, CWM LLC raised its position in 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 acquiring an additional 4,003 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Trading Down 0.5 %

SKWD traded down $0.28 during midday trading on Wednesday, reaching $51.04. The company's stock had a trading volume of 41,423 shares, compared to its average volume of 353,383. The company has a fifty day simple moving average of $44.28 and a 200 day simple moving average of $39.83. The stock has a market cap of $2.05 billion, a P/E ratio of 15.65, a PEG ratio of 0.90 and a beta of 0.53. Skyward Specialty Insurance Group, Inc. has a twelve month low of $29.40 and a twelve month high of $51.65.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate of $292.43 million. During the same quarter last year, the company posted $0.65 earnings per share. Sell-side analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current year.

Analysts Set New Price Targets

SKWD has been the topic of several analyst reports. JMP Securities increased their price target on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a "market outperform" rating in a research note on Wednesday, October 30th. Piper Sandler raised their target price on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Truist Financial reiterated a "buy" rating and set a $49.00 price target (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research note on Wednesday, August 7th. Barclays raised their price objective on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group upped their target price on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Skyward Specialty Insurance Group currently has a consensus 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.