ClariVest Asset Management LLC Decreases Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

ClariVest Asset Management LLC cut its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 47.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,257 shares of the company’s stock after selling 9,136 shares during the period. ClariVest Asset Management LLC’s holdings in Skyward Specialty Insurance Group were worth $371,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SKWD. Ameritas Investment Partners Inc. increased its stake in shares of Skyward Specialty Insurance Group by 24.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock worth $111,000 after purchasing an additional 579 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Skyward Specialty Insurance Group in the 2nd quarter worth $160,000. ProShare Advisors LLC purchased a new stake in shares of Skyward Specialty Insurance Group in the 1st quarter worth $200,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Skyward Specialty Insurance Group by 67.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock worth $204,000 after purchasing an additional 2,270 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Skyward Specialty Insurance Group by 24.2% in the 2nd quarter. Arizona State Retirement System now owns 9,516 shares of the company’s stock worth $344,000 after purchasing an additional 1,854 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. William Blair assumed coverage on Skyward Specialty Insurance Group in a research note on Monday, August 19th. They issued an “outperform” rating for the company. Piper Sandler increased their price target on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Truist Financial restated a “buy” rating and issued a $49.00 price objective (up from $47.00) on shares of Skyward Specialty Insurance Group in a research report on Wednesday, August 7th. JMP Securities increased their target price on Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods boosted their price target on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.78.

Insider Transactions at Skyward Specialty Insurance Group

In related news, Director Katharine Terry sold 1,653 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $36.87, for a total value of $60,946.11. Following the completion of the transaction, the director now owns 4,001 shares of the company’s stock, valued at approximately $147,516.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.01% of the company’s stock.

Skyward Specialty Insurance Group Price Performance

NASDAQ SKWD opened at $39.30 on Friday. Skyward Specialty Insurance Group, Inc. has a 1-year low of $23.87 and a 1-year high of $42.26. The business has a 50 day simple moving average of $38.54 and a two-hundred day simple moving average of $37.03. The stock has a market capitalization of $1.58 billion, a PE ratio of 14.45, a P/E/G ratio of 0.77 and a beta of 0.60.

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

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.