Emerald Mutual Fund Advisers Trust Cuts Stock Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Emerald Mutual Fund Advisers Trust decreased its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 726,402 shares of the company’s stock after selling 1,959 shares during the quarter. Skyward Specialty Insurance Group accounts for 1.5% of Emerald Mutual Fund Advisers Trust’s portfolio, making the stock its 13th largest position. Emerald Mutual Fund Advisers Trust’s holdings in Skyward Specialty Insurance Group were worth $29,586,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank grew its holdings in shares of Skyward Specialty Insurance Group by 27.7% during the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock valued at $46,000 after buying an additional 279 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 24.2% during the first quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock valued at $111,000 after buying an additional 579 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Skyward Specialty Insurance Group during the third quarter valued at approximately $41,000. Arizona State Retirement System grew its holdings in shares of Skyward Specialty Insurance Group by 24.2% during the second quarter. Arizona State Retirement System now owns 9,516 shares of the company’s stock valued at $344,000 after buying an additional 1,854 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Skyward Specialty Insurance Group by 17.2% during the third quarter. US Bancorp DE now owns 14,129 shares of the company’s stock valued at $575,000 after buying an additional 2,073 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Trading Down 1.2 %

SKWD opened at $43.70 on Friday. Skyward Specialty Insurance Group, Inc. has a 1-year low of $27.56 and a 1-year high of $48.40. The company has a market capitalization of $1.75 billion, a PE ratio of 13.32, a PEG ratio of 0.82 and a beta of 0.53. The firm’s 50 day simple moving average is $42.39 and its two-hundred day simple moving average is $38.72.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. The firm had revenue of $300.89 million during the quarter, compared to analysts’ expectations of $292.43 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 17.01%. During the same period in the prior year, the company posted $0.65 earnings per share. Equities analysts forecast that Skyward Specialty Insurance Group, Inc. will post 2.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

SKWD has been the topic of a number of research analyst reports. JMP Securities increased their price objective on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research report on Wednesday. Truist Financial restated a “buy” rating and set a $49.00 price objective (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research report on Wednesday, August 7th. Oppenheimer initiated coverage on shares of Skyward Specialty Insurance Group in a research report on Friday, July 12th. They set a “market perform” rating on the stock. Piper Sandler increased their price objective on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Barclays increased their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.22.

Insider Transactions at Skyward Specialty Insurance Group

In other news, Director Katharine Terry sold 1,653 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $36.87, for a total value of $60,946.11. Following the completion of the sale, the director now directly owns 4,001 shares of the company’s stock, valued at $147,516.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 8.01% of the company’s stock.

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.