Cetera Investment Advisers Has $510,000 Stock Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Cetera Investment Advisers raised its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 6.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,641 shares of the company’s stock after buying an additional 566 shares during the period. Cetera Investment Advisers’ holdings in Skyward Specialty Insurance Group were worth $510,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SKWD. LPL Financial LLC boosted its position in Skyward Specialty Insurance Group by 20.3% in the fourth quarter. LPL Financial LLC now owns 14,093 shares of the company’s stock valued at $712,000 after buying an additional 2,378 shares in the last quarter. Wells Fargo & Company MN boosted its position in Skyward Specialty Insurance Group by 52.4% in the fourth quarter. Wells Fargo & Company MN now owns 27,507 shares of the company’s stock valued at $1,390,000 after buying an additional 9,461 shares in the last quarter. Renaissance Technologies LLC boosted its position in Skyward Specialty Insurance Group by 11.7% in the fourth quarter. Renaissance Technologies LLC now owns 42,100 shares of the company’s stock valued at $2,128,000 after buying an additional 4,400 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Skyward Specialty Insurance Group in the fourth quarter valued at approximately $3,191,000. Finally, Sterling Capital Management LLC boosted its position in Skyward Specialty Insurance Group by 756.1% in the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after buying an additional 809 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Stock Down 1.7%

Shares of NASDAQ SKWD opened at $47.70 on Friday. Skyward Specialty Insurance Group, Inc. has a twelve month low of $37.01 and a twelve month high of $65.05. The firm has a fifty day simple moving average of $53.93 and a 200 day simple moving average of $53.87. The company has a market capitalization of $1.93 billion, a PE ratio of 15.00 and a beta of 0.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Wednesday, July 30th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. Skyward Specialty Insurance Group had a net margin of 10.53% and a return on equity of 16.40%. The business had revenue of $319.90 million during the quarter, compared to the consensus estimate of $324.64 million. During the same quarter last year, the firm earned $0.80 earnings per share. As a group, equities analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SKWD. Piper Sandler dropped their price target on shares of Skyward Specialty Insurance Group from $69.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, August 1st. Citigroup reaffirmed an “outperform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, May 2nd. Truist Financial raised their price target on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Wall Street Zen downgraded shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods raised their price target on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 29th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.88.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 52,748 shares of the firm’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $58.76, for a total value of $3,099,472.48. Following the completion of the sale, the chief financial officer directly owned 133,629 shares in the company, valued at approximately $7,852,040.04. This trade represents a 28.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.01% of the company’s stock.

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.