Federated Hermes Inc. Has $16.96 Million Stock Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Federated Hermes Inc. raised its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 10.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 468,640 shares of the company’s stock after purchasing an additional 44,323 shares during the quarter. Federated Hermes Inc. owned approximately 1.17% of Skyward Specialty Insurance Group worth $16,955,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Skyward Specialty Insurance Group by 15.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 232,644 shares of the company’s stock worth $7,882,000 after buying an additional 30,746 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Skyward Specialty Insurance Group during the first quarter worth $1,672,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 19.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 464,667 shares of the company’s stock worth $17,383,000 after buying an additional 75,137 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Skyward Specialty Insurance Group by 111.5% during the first quarter. Swiss National Bank now owns 55,000 shares of the company’s stock worth $2,058,000 after buying an additional 29,000 shares in the last quarter. Finally, Capstone Investment Advisors LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 68.3% during the first quarter. Capstone Investment Advisors LLC now owns 107,796 shares of the company’s stock worth $4,033,000 after buying an additional 43,739 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SKWD. Keefe, Bruyette & Woods lifted their target price 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. Piper Sandler boosted their price target 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. Oppenheimer started coverage on Skyward Specialty Insurance Group in a research note on Friday, July 12th. They issued a “market perform” rating for the company. Barclays started coverage on Skyward Specialty Insurance Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $44.00 price target for the company. Finally, William Blair started coverage on Skyward Specialty Insurance Group in a research note on Monday, August 19th. They issued an “outperform” rating for the company. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.78.

Skyward Specialty Insurance Group Stock Down 1.1 %

Skyward Specialty Insurance Group stock opened at $38.88 on Monday. Skyward Specialty Insurance Group, Inc. has a 12-month low of $24.34 and a 12-month high of $42.26. The business’s 50-day moving average price is $38.60 and its two-hundred day moving average price is $37.06. The stock has a market cap of $1.56 billion, a PE ratio of 14.29, a P/E/G ratio of 0.74 and a beta of 0.60.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Monday, August 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.15. The company had revenue of $279.94 million for the quarter, compared to analysts’ expectations of $282.70 million. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. During the same period in the previous year, the business posted $0.42 earnings per share. As a group, analysts expect that Skyward Specialty Insurance Group, Inc. will post 2.96 earnings per share for the current year.

Insider Transactions at Skyward Specialty Insurance Group

In other news, Director Katharine Terry sold 1,653 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $36.87, for a total transaction of $60,946.11. Following the sale, the director now directly owns 4,001 shares in the company, valued at $147,516.87. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.01% of the company’s stock.

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.