Riverwater Partners LLC Acquires 862 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Riverwater Partners LLC raised its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,013 shares of the company’s stock after buying an additional 862 shares during the quarter. Riverwater Partners LLC owned about 0.09% of Skyward Specialty Insurance Group worth $1,770,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SKWD. Quarry LP boosted its holdings in Skyward Specialty Insurance Group by 176.9% in the third quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after acquiring an additional 879 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter valued at about $61,000. Pinnacle Financial Partners Inc purchased a new position in shares of Skyward Specialty Insurance Group during the fourth quarter valued at about $220,000. Ashton Thomas Private Wealth LLC bought a new position in Skyward Specialty Insurance Group in the fourth quarter worth about $230,000. Finally, Kirr Marbach & Co. LLC IN purchased a new stake in Skyward Specialty Insurance Group in the fourth quarter worth about $252,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Thomas N. Schmitt sold 546 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $46.85, for a total transaction of $25,580.10. Following the transaction, the insider now directly owns 10,246 shares of the company’s stock, valued at $480,025.10. This represents a 5.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gena L. Ashe sold 1,000 shares of Skyward Specialty Insurance Group stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total value of $50,620.00. Following the completion of the sale, the director now directly owns 734 shares of the company’s stock, valued at $37,155.08. The trade was a 57.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,369 shares of company stock valued at $725,173 in the last 90 days. 8.01% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SKWD shares. Barclays upgraded Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $53.00 to $63.00 in a report on Friday, March 14th. Keefe, Bruyette & Woods raised their price objective on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. TD Cowen initiated coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They set a “hold” rating and a $43.00 target price on the stock. Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Finally, Truist Financial boosted their price objective on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Three equities 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.25.

Skyward Specialty Insurance Group Stock Down 8.3 %

Shares of NASDAQ SKWD opened at $49.54 on Friday. The company has a 50 day moving average of $49.68 and a 200 day moving average of $48.01. Skyward Specialty Insurance Group, Inc. has a twelve month low of $33.27 and a twelve month high of $55.62. The firm has a market cap of $2.00 billion, a P/E ratio of 15.10, a PEG ratio of 0.81 and a beta of 0.67.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The firm had revenue of $304.40 million for the quarter, compared to the consensus estimate of $295.56 million. As a group, equities analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

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.