Rhumbline Advisers Cuts Stake in Skyward Specialty Insurance Group, Inc. $SKWD

Rhumbline Advisers decreased its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 1.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,224 shares of the company’s stock after selling 936 shares during the period. Rhumbline Advisers owned approximately 0.13% of Skyward Specialty Insurance Group worth $2,817,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. LRI Investments LLC purchased a new stake in shares of Skyward Specialty Insurance Group in the 1st quarter valued at $67,000. KBC Group NV purchased a new stake in Skyward Specialty Insurance Group during the 1st quarter valued at $81,000. ORG Wealth Partners LLC boosted its position in Skyward Specialty Insurance Group by 86.9% during the 1st quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company’s stock valued at $123,000 after buying an additional 1,057 shares during the period. State of Wyoming boosted its position in Skyward Specialty Insurance Group by 52.4% during the 1st quarter. State of Wyoming now owns 2,435 shares of the company’s stock valued at $129,000 after buying an additional 837 shares during the period. Finally, New York State Teachers Retirement System purchased a new stake in Skyward Specialty Insurance Group during the 1st quarter valued at $179,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Trading Up 2.7%

SKWD opened at $46.78 on Wednesday. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 14.71 and a beta of 0.61. The company’s 50 day moving average is $50.00 and its 200 day moving average is $53.80. Skyward Specialty Insurance Group, Inc. has a 12-month low of $39.29 and a 12-month high of $65.05.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on SKWD. Citigroup reissued an “outperform” rating on shares of Skyward Specialty Insurance Group in a research report on Thursday, September 4th. Wall Street Zen cut shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Wolfe Research raised shares of Skyward Specialty Insurance Group to an “outperform” rating in a research report on Monday. BMO Capital Markets increased their price target on shares of Skyward Specialty Insurance Group from $52.00 to $55.00 and gave the company a “market perform” rating in a research report on Monday, September 8th. Finally, JMP Securities increased their price target on shares of Skyward Specialty Insurance Group from $65.00 to $70.00 and gave the company a “market outperform” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.78.

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.