Riverwater Partners LLC Purchases New Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Riverwater Partners LLC bought a new position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 34,151 shares of the company’s stock, valued at approximately $1,404,000. Riverwater Partners LLC owned about 0.09% of Skyward Specialty Insurance Group as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Capital International Investors raised its stake in Skyward Specialty Insurance Group by 48.0% during the first quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock worth $82,767,000 after acquiring an additional 717,972 shares during the period. Marshall Wace LLP bought a new stake in shares of Skyward Specialty Insurance Group in the 2nd quarter worth approximately $10,152,000. Dimensional Fund Advisors LP acquired a new position in Skyward Specialty Insurance Group during the 2nd quarter valued at approximately $8,151,000. Vanguard Group Inc. grew its stake in 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 buying an additional 207,744 shares during the last quarter. Finally, Mutual of America Capital Management LLC acquired a new stake in Skyward Specialty Insurance Group in the second quarter worth $6,568,000. 94.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on SKWD. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price objective on shares of Skyward Specialty Insurance Group in a report on Tuesday, October 15th. Jefferies Financial Group lifted their price target on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays began coverage on Skyward Specialty Insurance Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $44.00 price objective for the company. Oppenheimer assumed coverage on Skyward Specialty Insurance Group in a research report on Friday, July 12th. They issued a “market perform” rating on the stock. Finally, William Blair began coverage on Skyward Specialty Insurance Group in a research report on Monday, August 19th. They set an “outperform” rating for the company. Three 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.78.

Skyward Specialty Insurance Group Stock Up 0.5 %

Shares of SKWD stock opened at $46.60 on Thursday. The stock has a 50-day simple moving average of $41.27 and a 200 day simple moving average of $38.24. The stock has a market capitalization of $1.86 billion, a P/E ratio of 17.13, a P/E/G ratio of 0.86 and a beta of 0.60. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $47.14.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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 company had revenue of $279.94 million for the quarter, compared to analysts’ expectations of $282.70 million. During the same quarter in the previous year, the company posted $0.42 EPS. On average, sell-side analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 2.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Katharine Terry sold 1,653 shares of Skyward Specialty Insurance Group stock in a transaction on Friday, August 9th. The stock was sold at an average price of $36.87, for a total value of $60,946.11. Following the transaction, the director now directly owns 4,001 shares in the company, valued at $147,516.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.01% of the stock is currently owned by company insiders.

About Skyward Specialty Insurance Group

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.