Loomis Sayles & Co. L P Reduces Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Loomis Sayles & Co. L P cut its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 363,103 shares of the company’s stock after selling 14,695 shares during the period. Loomis Sayles & Co. L P owned about 0.91% of Skyward Specialty Insurance Group worth $14,789,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Amalgamated Bank increased its holdings in shares of Skyward Specialty Insurance Group by 27.7% in the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock valued at $46,000 after acquiring an additional 279 shares during the period. Chartwell Investment Partners LLC grew its position in Skyward Specialty Insurance Group by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 38,037 shares of the company’s stock worth $1,549,000 after purchasing an additional 306 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Skyward Specialty Insurance Group in the third quarter valued at $41,000. Arizona State Retirement System raised its holdings in shares of Skyward Specialty Insurance Group by 24.2% in 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 boosted its stake 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 worth $575,000 after buying an additional 2,073 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Stock Up 0.1 %

Shares of SKWD opened at $52.73 on Wednesday. Skyward Specialty Insurance Group, Inc. has a 52-week low of $29.40 and a 52-week high of $54.28. The company has a 50-day simple moving average of $45.35 and a 200-day simple moving average of $40.26. The company has a market capitalization of $2.11 billion, a PE ratio of 16.08, a P/E/G ratio of 0.96 and a beta of 0.53.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. The company 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 16.39%. During the same period last year, the company posted $0.65 earnings per share. On average, research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current year.

Wall Street Analysts Forecast Growth

SKWD has been the topic of several recent research reports. Barclays boosted their price target on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Raymond James upped their price target on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 5th. Piper Sandler lifted 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. Keefe, Bruyette & Woods boosted their price objective on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Finally, Truist Financial restated a “buy” rating and issued a $49.00 target price (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $46.89.

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.