Dark Forest Capital Management LP Trims Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Dark Forest Capital Management LP cut its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 36.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,553 shares of the company’s stock after selling 21,971 shares during the quarter. Dark Forest Capital Management LP owned about 0.09% of Skyward Specialty Insurance Group worth $1,359,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SKWD. Charles Schwab Investment Management Inc. increased its stake in shares of Skyward Specialty Insurance Group by 15.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 232,644 shares of the company’s stock worth $7,882,000 after acquiring an additional 30,746 shares in the last quarter. Norges Bank bought a new position in Skyward Specialty Insurance Group during the 4th quarter valued at approximately $10,371,000. US Bancorp DE raised its stake in Skyward Specialty Insurance Group by 62.9% during the fourth quarter. US Bancorp DE now owns 28,928 shares of the company’s stock valued at $980,000 after buying an additional 11,167 shares during the last quarter. Capstone Investment Advisors LLC boosted its holdings in Skyward Specialty Insurance Group by 16.5% in the fourth quarter. Capstone Investment Advisors LLC now owns 64,057 shares of the company’s stock worth $2,170,000 after acquiring an additional 9,057 shares in the last quarter. Finally, Alpha DNA Investment Management LLC purchased a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter worth $525,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Stock Performance

NASDAQ SKWD opened at $41.21 on Thursday. The business’s fifty day moving average is $39.11 and its 200 day moving average is $37.31. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $42.26. The company has a market capitalization of $1.65 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.77 and a beta of 0.60.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.15. The firm had revenue of $279.94 million for the quarter, compared to analysts’ expectations of $282.70 million. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. During the same period in the previous year, the firm earned $0.42 EPS. On average, sell-side analysts forecast that Skyward Specialty Insurance Group, Inc. will post 2.96 EPS for the current year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director Katharine Terry sold 1,653 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $36.87, for a total transaction of $60,946.11. Following the sale, the director now directly owns 4,001 shares in the company, valued at approximately $147,516.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SKWD. Oppenheimer initiated coverage on shares of Skyward Specialty Insurance Group in a research note on Friday, July 12th. They issued a “market perform” rating on the stock. Truist Financial reissued 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 report on Wednesday, August 7th. 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 note on Monday, August 12th. Barclays started coverage on Skyward Specialty Insurance Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $44.00 price target for the company. Finally, William Blair started coverage on shares of Skyward Specialty Insurance Group in a report on Monday, August 19th. They set an “outperform” rating for the company. 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 company’s stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $43.78.

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.