Wakefield Asset Management LLLP Sells 5,595 Shares of Skyward Specialty Insurance Group, Inc. $SKWD

Wakefield Asset Management LLLP lowered its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 21.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,652 shares of the company’s stock after selling 5,595 shares during the period. Wakefield Asset Management LLLP owned approximately 0.05% of Skyward Specialty Insurance Group worth $1,193,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new stake in shares of Skyward Specialty Insurance Group during the first quarter worth about $1,280,000. Envestnet Asset Management Inc. raised its position in shares of Skyward Specialty Insurance Group by 36.7% during the first quarter. Envestnet Asset Management Inc. now owns 103,016 shares of the company’s stock worth $5,452,000 after purchasing an additional 27,669 shares during the period. Principal Financial Group Inc. raised its position in shares of 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 purchasing an additional 13,635 shares during the period. Raymond James Financial Inc. raised its position in shares of 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 period. Finally, Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 227,921 shares during the period. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Stock Performance

Shares of Skyward Specialty Insurance Group stock opened at $45.59 on Friday. The business’s 50 day simple moving average is $47.55 and its 200 day simple moving average is $52.89. Skyward Specialty Insurance Group, Inc. has a 52-week low of $41.28 and a 52-week high of $65.05. The firm has a market cap of $1.85 billion, a PE ratio of 13.45 and a beta of 0.58.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.20. Skyward Specialty Insurance Group had a return on equity of 17.88% and a net margin of 10.57%.The business had revenue of $606.51 million for the quarter, compared to analyst estimates of $334.54 million. During the same quarter last year, the firm earned $0.71 EPS. As a group, equities research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SKWD shares. Piper Sandler dropped their price target on Skyward Specialty Insurance Group from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday. Janney Montgomery Scott started coverage on Skyward Specialty Insurance Group in a research report on Monday, October 6th. They set a “buy” rating and a $60.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Skyward Specialty Insurance Group in a research report on Friday. JMP Securities set a $75.00 price target on Skyward Specialty Insurance Group in a research report on Thursday. Finally, Citigroup reissued an “outperform” rating on shares of Skyward Specialty Insurance Group in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.73.

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.