AlphaQuest LLC Has $78,000 Holdings in Skyward Specialty Insurance Group, Inc. $SKWD

AlphaQuest LLC reduced its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 87.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,353 shares of the company’s stock after selling 9,485 shares during the period. AlphaQuest LLC’s holdings in Skyward Specialty Insurance Group were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Penserra Capital Management LLC acquired a new stake in shares of Skyward Specialty Insurance Group during the first quarter worth $1,280,000. Envestnet Asset Management Inc. lifted its position in Skyward Specialty Insurance Group by 36.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 103,016 shares of the company’s stock valued at $5,452,000 after acquiring an additional 27,669 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Skyward Specialty Insurance Group by 17.2% during the first quarter. Principal Financial Group Inc. now owns 92,798 shares of the company’s stock worth $4,911,000 after buying an additional 13,635 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in Skyward Specialty Insurance Group by 146.5% during the first quarter. Raymond James Financial Inc. now owns 155,649 shares of the company’s stock worth $8,236,000 after purchasing an additional 92,511 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Skyward Specialty Insurance Group by 10.0% during the first quarter. Vanguard Group Inc. now owns 2,503,156 shares of the company’s stock worth $132,467,000 after acquiring an additional 227,921 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analyst Ratings Changes

SKWD has been the topic of a number of research reports. Piper Sandler lowered their price target on shares of Skyward Specialty Insurance Group from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Citigroup reaffirmed an “outperform” rating on shares of Skyward Specialty Insurance Group in a report on Thursday, October 30th. BMO Capital Markets increased their target price on Skyward Specialty Insurance Group from $52.00 to $55.00 and gave the company a “market perform” rating in a research note on Monday, September 8th. Wolfe Research raised shares of Skyward Specialty Insurance Group to an “outperform” rating in a report on Monday, September 15th. Finally, JMP Securities set a $75.00 price objective on Skyward Specialty Insurance Group in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and an average target price of $63.50.

Skyward Specialty Insurance Group Trading Up 2.1%

Shares of SKWD stock opened at $46.83 on Thursday. The stock has a market cap of $1.90 billion, a PE ratio of 13.81 and a beta of 0.57. Skyward Specialty Insurance Group, Inc. has a 12 month low of $41.28 and a 12 month high of $65.05. The company’s fifty day moving average price is $47.38 and its 200-day moving average price is $52.70.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Wednesday, October 29th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.85 by $0.20. The business had revenue of $606.51 million for the quarter, compared to the consensus estimate of $334.54 million. Skyward Specialty Insurance Group had a return on equity of 17.88% and a net margin of 10.57%.During the same period in the previous year, the company posted $0.71 earnings per share. On average, sell-side analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Skyward Specialty Insurance Group 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.