Y Intercept Hong Kong Ltd Invests $619,000 in Skyward Specialty Insurance Group, Inc. $SKWD

Y Intercept Hong Kong Ltd acquired a new position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,718 shares of the company’s stock, valued at approximately $619,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SKWD. Caitong International Asset Management Co. Ltd increased its stake in shares of Skyward Specialty Insurance Group by 2,223.1% in the second quarter. Caitong International Asset Management Co. Ltd now owns 604 shares of the company’s stock worth $35,000 after purchasing an additional 578 shares in the last quarter. LRI Investments LLC purchased a new position in Skyward Specialty Insurance Group during the first quarter valued at $67,000. KBC Group NV purchased a new position in Skyward Specialty Insurance Group during the first quarter valued at $81,000. State of Wyoming grew its stake in Skyward Specialty Insurance Group by 52.4% during the first quarter. State of Wyoming now owns 2,435 shares of the company’s stock valued at $129,000 after acquiring an additional 837 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new position in Skyward Specialty Insurance Group during the first quarter valued at $179,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Trading Up 2.1%

SKWD stock opened at $46.83 on Thursday. Skyward Specialty Insurance Group, Inc. has a 12 month low of $41.28 and a 12 month high of $65.05. The company has a 50-day moving average price of $47.38 and a 200 day moving average price of $52.70. 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 (NASDAQ:SKWD) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.20. Skyward Specialty Insurance Group had a net margin of 10.57% and a return on equity of 17.88%. The firm had revenue of $606.51 million during the quarter, compared to analysts’ expectations of $334.54 million. During the same period in the previous year, the company earned $0.71 EPS. Sell-side analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SKWD. Wolfe Research raised shares of Skyward Specialty Insurance Group to an “outperform” rating in a research note on Monday, September 15th. Piper Sandler cut their target price on shares of Skyward Specialty Insurance Group from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Citizens Jmp raised their target price on shares of Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the company a “market outperform” rating in a research note on Thursday, October 30th. Janney Montgomery Scott began coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, October 6th. They set a “buy” rating and a $60.00 target price for the company. Finally, Wall Street Zen lowered shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and an average price target of $63.50.

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.