Allspring Global Investments Holdings LLC Has $11.49 Million Position in Skyward Specialty Insurance Group, Inc. $SKWD

Allspring Global Investments Holdings LLC lowered its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 29.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,576 shares of the company’s stock after selling 86,032 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.50% of Skyward Specialty Insurance Group worth $11,494,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Arizona State Retirement System boosted its holdings in shares of Skyward Specialty Insurance Group by 4.6% in the 1st quarter. Arizona State Retirement System now owns 10,329 shares of the company’s stock valued at $547,000 after purchasing an additional 451 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Skyward Specialty Insurance Group by 8.2% in the 1st quarter. US Bancorp DE now owns 5,935 shares of the company’s stock valued at $314,000 after purchasing an additional 451 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Skyward Specialty Insurance Group by 4.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 10,756 shares of the company’s stock valued at $622,000 after purchasing an additional 479 shares in the last quarter. LRI Investments LLC boosted its holdings in shares of Skyward Specialty Insurance Group by 39.4% in the 2nd quarter. LRI Investments LLC now owns 1,756 shares of the company’s stock valued at $101,000 after purchasing an additional 496 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Skyward Specialty Insurance Group by 6.2% in the 1st quarter. Cetera Investment Advisers now owns 9,641 shares of the company’s stock valued at $510,000 after purchasing an additional 566 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Citigroup reaffirmed an “outperform” rating on shares of Skyward Specialty Insurance Group in a report on Thursday, September 4th. Janney Montgomery Scott assumed coverage on Skyward Specialty Insurance Group in a report on Monday, October 6th. They issued a “buy” rating and a $60.00 target price on the stock. JMP Securities raised their target price on Skyward Specialty Insurance Group from $65.00 to $70.00 and gave the company a “market outperform” rating in a report on Thursday, September 4th. BMO Capital Markets increased their price target 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. Finally, Wall Street Zen cut Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $60.70.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD opened at $46.25 on Friday. Skyward Specialty Insurance Group, Inc. has a 52 week low of $41.28 and a 52 week high of $65.05. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 14.54 and a beta of 0.58. The stock has a fifty day moving average of $48.11 and a 200-day moving average of $53.25.

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

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.