GAMMA Investing LLC Buys 17,402 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

GAMMA Investing LLC increased its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 6,374.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 17,675 shares of the company’s stock after buying an additional 17,402 shares during the period. GAMMA Investing LLC’s holdings in Skyward Specialty Insurance Group were worth $935,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company’s stock worth $114,990,000 after buying an additional 16,572 shares during the period. American Century Companies Inc. boosted its holdings in Skyward Specialty Insurance Group by 54.0% in the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock valued at $79,744,000 after purchasing an additional 553,389 shares during the period. Invesco Ltd. boosted its holdings in Skyward Specialty Insurance Group by 9.1% in the 4th quarter. Invesco Ltd. now owns 1,217,329 shares of the company’s stock valued at $61,524,000 after purchasing an additional 102,042 shares during the period. Franklin Resources Inc. boosted its holdings in Skyward Specialty Insurance Group by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company’s stock valued at $58,860,000 after purchasing an additional 47,363 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Skyward Specialty Insurance Group by 37.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company’s stock valued at $52,995,000 after purchasing an additional 283,749 shares during the period. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Trading Up 1.2%

Shares of Skyward Specialty Insurance Group stock opened at $59.29 on Tuesday. The company has a 50 day moving average of $58.31 and a 200-day moving average of $52.40. Skyward Specialty Insurance Group, Inc. has a 1-year low of $33.42 and a 1-year high of $65.05. The company has a market cap of $2.40 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 0.81 and a beta of 0.79.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $328.53 million during the quarter, compared to analysts’ expectations of $310.94 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same period in the prior year, the company earned $0.75 EPS. Research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Kirby Hill sold 8,249 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $60.87, for a total transaction of $502,116.63. Following the completion of the transaction, the chairman now directly owns 8,249 shares in the company, valued at $502,116.63. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Jefferies Financial Group downgraded shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $62.00 to $59.00 in a report on Friday, April 11th. Citigroup reissued an “outperform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. Piper Sandler boosted their price objective on shares of Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Wolfe Research reissued a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Finally, JMP Securities boosted their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a report on Friday, May 2nd. Four 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. According to MarketBeat, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and an average price target of $61.75.

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.