Quantedge Capital Pte Ltd Cuts Stake in Skyward Specialty Insurance Group, Inc. $SKWD

Quantedge Capital Pte Ltd lowered its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 49.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,400 shares of the company’s stock after selling 16,000 shares during the quarter. Quantedge Capital Pte Ltd’s holdings in Skyward Specialty Insurance Group were worth $948,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. US Bancorp DE boosted its stake in Skyward Specialty Insurance Group by 8.2% in the first quarter. US Bancorp DE now owns 5,935 shares of the company’s stock valued at $314,000 after acquiring an additional 451 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Skyward Specialty Insurance Group by 5.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 8,516 shares of the company’s stock worth $492,000 after purchasing an additional 460 shares during the period. Janney Montgomery Scott LLC lifted its stake in Skyward Specialty Insurance Group by 4.7% in the second quarter. Janney Montgomery Scott LLC now owns 10,756 shares of the company’s stock valued at $622,000 after purchasing an additional 479 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Skyward Specialty Insurance Group by 10.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 5,041 shares of the company’s stock valued at $291,000 after purchasing an additional 480 shares during the period. Finally, Moran Wealth Management LLC increased its position in Skyward Specialty Insurance Group by 4.9% in the second quarter. Moran Wealth Management LLC now owns 10,527 shares of the company’s stock worth $608,000 after buying an additional 495 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Trading Up 0.5%

SKWD stock opened at $47.00 on Wednesday. The firm has a 50 day moving average of $47.30 and a 200-day moving average of $50.91. The firm has a market capitalization of $1.90 billion, a P/E ratio of 13.86 and a beta of 0.55. Skyward Specialty Insurance Group, Inc. has a 12 month low of $41.28 and a 12 month high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.20. The business had revenue of $382.53 million for the quarter, compared to analysts’ expectations of $334.54 million. Skyward Specialty Insurance Group had a net margin of 10.57% and a return on equity of 17.30%. During the same period in the prior year, the company posted $0.71 EPS. Sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wall Street Zen upgraded Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wolfe Research upgraded shares of Skyward Specialty Insurance Group to an “outperform” rating in a research note on Monday, September 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, October 31st. Janney Montgomery Scott began coverage on shares of Skyward Specialty Insurance Group in a report on Monday, October 6th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Citizens Jmp boosted their target price on shares of Skyward Specialty Insurance Group from $75.00 to $80.00 and gave the company a “market outperform” rating in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Skyward Specialty Insurance Group presently has a consensus rating of “Moderate Buy” and an average target price of $64.27.

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.