Victory Capital Management Inc. Buys 84,623 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Victory Capital Management Inc. lifted its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 12.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 743,073 shares of the company’s stock after acquiring an additional 84,623 shares during the quarter. Victory Capital Management Inc.’s holdings in Skyward Specialty Insurance Group were worth $30,265,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swiss National Bank grew its position in Skyward Specialty Insurance Group by 111.5% in the 1st quarter. Swiss National Bank now owns 55,000 shares of the company’s stock worth $2,058,000 after purchasing an additional 29,000 shares in the last quarter. ProShare Advisors LLC purchased a new position in shares of Skyward Specialty Insurance Group in the 1st quarter worth approximately $200,000. Vanguard Group Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 11.3% in the first quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock valued at $76,458,000 after acquiring an additional 207,744 shares in the last quarter. Champlain Investment Partners LLC increased its position in shares of Skyward Specialty Insurance Group by 0.3% during the first quarter. Champlain Investment Partners LLC now owns 1,405,980 shares of the company’s stock valued at $52,598,000 after acquiring an additional 4,510 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in 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 worth $111,000 after acquiring an additional 579 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Stock Up 0.1 %

SKWD opened at $49.79 on Friday. The firm has a 50-day moving average price of $43.88 and a 200-day moving average price of $39.60. Skyward Specialty Insurance Group, Inc. has a twelve month low of $29.40 and a twelve month high of $50.53. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.90 and a beta of 0.53.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The business had revenue of $300.89 million during the quarter, compared to analyst estimates of $292.43 million. During the same period in the previous year, the business earned $0.65 EPS. On average, sell-side analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SKWD. Barclays upped their price objective on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. William Blair initiated coverage on shares of Skyward Specialty Insurance Group in a report on Monday, August 19th. They set an “outperform” rating for the company. Piper Sandler boosted their target price on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, JMP Securities increased their target price 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, October 30th. 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’s stock. According to data from MarketBeat, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.89.

Skyward Specialty Insurance Group 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.