Federated Hermes Inc. Raises Stock Holdings in Skyward Specialty Insurance Group, Inc. $SKWD

Federated Hermes Inc. increased its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 5.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 490,526 shares of the company’s stock after acquiring an additional 25,711 shares during the period. Federated Hermes Inc. owned about 1.21% of Skyward Specialty Insurance Group worth $28,347,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Invesco Ltd. lifted its position in shares of Skyward Specialty Insurance Group by 46.3% during the second quarter. Invesco Ltd. now owns 1,790,131 shares of the company’s stock worth $103,452,000 after purchasing an additional 566,902 shares during the last quarter. Voya Investment Management LLC increased its stake in Skyward Specialty Insurance Group by 3,712.0% in the 1st quarter. Voya Investment Management LLC now owns 433,652 shares of the company’s stock worth $22,949,000 after buying an additional 422,276 shares during the period. Aberdeen Group plc bought a new stake in Skyward Specialty Insurance Group during the 2nd quarter valued at about $19,319,000. Nuveen LLC bought a new stake in Skyward Specialty Insurance Group during the 1st quarter valued at about $14,354,000. Finally, Vanguard Group Inc. boosted its position in Skyward Specialty Insurance Group by 10.0% in the 1st quarter. Vanguard Group Inc. now owns 2,503,156 shares of the company’s stock valued at $132,467,000 after buying an additional 227,921 shares during the period. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD stock opened at $47.00 on Wednesday. The stock’s 50-day moving average is $47.30 and its 200 day moving average is $50.91. Skyward Specialty Insurance Group, Inc. has a 1-year low of $41.28 and a 1-year high of $65.05. The company has a market cap of $1.90 billion, a P/E ratio of 13.86 and a beta of 0.55.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its 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 17.30%. The business had revenue of $382.53 million during the quarter, compared to the consensus estimate of $334.54 million. During the same period in the previous year, the company posted $0.71 earnings per share. On average, analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SKWD. Wall Street Zen raised shares of Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. JMP Securities set a $80.00 price objective on Skyward Specialty Insurance Group in a report on Thursday, December 4th. Raymond James Financial set a $66.00 target price on Skyward Specialty Insurance Group in a research report on Friday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Skyward Specialty Insurance Group in a report on Friday, October 31st. Finally, Piper Sandler raised their price target on Skyward Specialty Insurance Group from $62.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.27.

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.