Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Shares Sold by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust decreased its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 2.6% during the 2nd quarter, Holdings Channel reports. The firm owned 728,361 shares of the company’s stock after selling 19,552 shares during the quarter. Skyward Specialty Insurance Group comprises about 1.4% of Emerald Mutual Fund Advisers Trust’s holdings, making the stock its 22nd biggest position. Emerald Mutual Fund Advisers Trust’s holdings in Skyward Specialty Insurance Group were worth $26,352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors purchased a new position in Skyward Specialty Insurance Group during the 4th quarter valued at about $50,632,000. Norges Bank acquired a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at approximately $10,371,000. Vanguard Group Inc. increased its stake in shares of Skyward Specialty Insurance Group by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock worth $76,458,000 after purchasing an additional 207,744 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Skyward Specialty Insurance Group by 13.2% during the 2nd quarter. Victory Capital Management Inc. now owns 658,450 shares of the company’s stock worth $23,823,000 after purchasing an additional 76,524 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Skyward Specialty Insurance Group by 19.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 464,667 shares of the company’s stock valued at $17,383,000 after buying an additional 75,137 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Trading Down 1.6 %

SKWD stock opened at $40.82 on Friday. The company has a market cap of $1.64 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60. The stock has a 50-day moving average price of $38.22 and a two-hundred day moving average price of $36.90. Skyward Specialty Insurance Group, Inc. has a 12-month low of $22.97 and a 12-month high of $41.98.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.65 by $0.15. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. The firm had revenue of $279.94 million for the quarter, compared to analyst estimates of $282.70 million. During the same quarter last year, the firm posted $0.42 earnings per share. Equities analysts forecast that Skyward Specialty Insurance Group, Inc. will post 2.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SKWD has been the subject of a number of analyst reports. JMP Securities boosted their price target on Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 6th. Oppenheimer started coverage on shares of Skyward Specialty Insurance Group in a report on Friday, July 12th. They issued a “market perform” rating on the stock. Truist Financial reiterated a “buy” rating and set a $49.00 price target (up from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. Keefe, Bruyette & Woods upped 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, Barclays started coverage on shares of Skyward Specialty Insurance Group in a research note on Wednesday. They issued an “equal weight” rating and a $44.00 target price for the company. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.78.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $36.87, for a total transaction of $60,946.11. Following the transaction, the director now owns 4,001 shares in the company, valued at $147,516.87. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.01% of the stock is owned by corporate insiders.

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.