3,677,399 Shares in Skyward Specialty Insurance Group, Inc. $SKWD Purchased by BlackRock Inc.

BlackRock Inc. purchased a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,677,399 shares of the company’s stock, valued at approximately $214,576,000. BlackRock Inc. owned 0.09% of Skyward Specialty Insurance Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in Skyward Specialty Insurance Group by 1.3% in the first quarter. The Manufacturers Life Insurance Company now owns 17,714 shares of the company’s stock valued at $774,000 after buying an additional 228 shares in the last quarter. CWM LLC boosted its stake in shares of Skyward Specialty Insurance Group by 19.4% during the 4th quarter. CWM LLC now owns 2,013 shares of the company’s stock worth $103,000 after acquiring an additional 327 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Skyward Specialty Insurance Group by 0.9% during the 2nd quarter. California State Teachers Retirement System now owns 36,490 shares of the company’s stock valued at $2,109,000 after acquiring an additional 341 shares during the period. ProShare Advisors LLC grew its position in shares of Skyward Specialty Insurance Group by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 6,536 shares of the company’s stock valued at $334,000 after acquiring an additional 423 shares during the period. Finally, Graham Capital Management L.P. increased its stake in shares of Skyward Specialty Insurance Group by 2.3% in the 4th quarter. Graham Capital Management L.P. now owns 23,842 shares of the company’s stock valued at $1,219,000 after purchasing an additional 536 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SKWD. TD Cowen increased their target price on Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, August 11th. Wall Street Zen raised shares of Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Texas Capital upgraded Skyward Specialty Insurance Group to a “strong-buy” rating in a research note on Tuesday, June 9th. Truist Financial increased their target price on Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Barclays lifted their price target on Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and an average price target of $68.64.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD stock opened at $57.65 on Friday. The company has a market capitalization of $2.56 billion, a PE ratio of 13.44 and a beta of 0.34. The firm’s 50-day moving average is $59.15 and its two-hundred day moving average is $50.47. Skyward Specialty Insurance Group, Inc. has a 12 month low of $40.60 and a 12 month high of $65.69.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, August 4th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.13. The company had revenue of $489.53 million during the quarter, compared to analysts’ expectations of $706.59 million. Skyward Specialty Insurance Group had a return on equity of 18.72% and a net margin of 10.84%. Sell-side analysts forecast that Skyward Specialty Insurance Group, Inc. will post 4.98 EPS for the current year.

Insider Activity

In related news, insider Thomas N. Schmitt sold 8,397 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $51.32, for a total value of $430,934.04. Following the sale, the insider owned 10,353 shares in the company, valued at approximately $531,315.96. The trade was a 44.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.52% of the company’s stock.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc (NASDAQ: SKWD) is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.