FORA Capital LLC Buys New Shares in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

FORA Capital LLC bought a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,286 shares of the company’s stock, valued at approximately $256,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arcadia Investment Management Corp MI bought a new stake in shares of Skyward Specialty Insurance Group during the 3rd quarter valued at $41,000. Amalgamated Bank increased its stake in Skyward Specialty Insurance Group by 27.7% in the second 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 last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Skyward Specialty Insurance Group during the second quarter worth $160,000. CWM LLC increased its holdings in Skyward Specialty Insurance Group by 3,103.1% in the 3rd quarter. CWM LLC now owns 4,132 shares of the company’s stock worth $168,000 after purchasing an additional 4,003 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Skyward Specialty Insurance Group by 67.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock valued at $204,000 after buying an additional 2,270 shares during the period. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Price Performance

Shares of Skyward Specialty Insurance Group stock opened at $54.11 on Friday. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 0.97 and a beta of 0.53. Skyward Specialty Insurance Group, Inc. has a 1 year low of $29.40 and a 1 year high of $54.86. The firm’s 50-day moving average is $46.15 and its 200 day moving average is $40.55.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.06. The firm had revenue of $300.89 million for 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 quarter in the prior year, the business earned $0.65 EPS. On average, equities analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SKWD shares. Truist Financial reissued a “buy” rating and set a $49.00 target price (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research report on Wednesday, August 7th. Jefferies Financial Group upped their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their target price on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. William Blair assumed coverage on shares of Skyward Specialty Insurance Group in a report on Monday, August 19th. They set an “outperform” rating on the stock. Finally, Piper Sandler upped their price objective on 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. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of “Moderate Buy” and a consensus target price of $46.89.

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.