Lighthouse Investment Partners LLC Purchases 54,069 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Lighthouse Investment Partners LLC grew its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 93.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,162 shares of the company’s stock after purchasing an additional 54,069 shares during the period. Lighthouse Investment Partners LLC’s holdings in Skyward Specialty Insurance Group were worth $4,058,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Millennium Management LLC lifted its position in Skyward Specialty Insurance Group by 30.9% during the second quarter. Millennium Management LLC now owns 278,272 shares of the company’s stock valued at $10,068,000 after purchasing an additional 65,755 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 98.8% during the 2nd quarter. Squarepoint Ops LLC now owns 26,260 shares of the company’s stock worth $950,000 after acquiring an additional 13,052 shares during the last quarter. Sandia Investment Management LP grew its position in Skyward Specialty Insurance Group by 250.0% in the second quarter. Sandia Investment Management LP now owns 17,500 shares of the company’s stock worth $633,000 after acquiring an additional 12,500 shares in the last quarter. Marshall Wace LLP bought a new position in Skyward Specialty Insurance Group in the second quarter valued at $10,152,000. Finally, Thrivent Financial for Lutherans purchased a new stake in Skyward Specialty Insurance Group during the second quarter valued at about $964,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Insider Activity at Skyward Specialty Insurance Group

In other news, Director Katharine Terry sold 1,653 shares of the firm’s 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 sale, the director now directly owns 4,001 shares of the company’s stock, valued at approximately $147,516.87. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SKWD has been the subject of a number of research reports. JMP Securities upped their price objective on Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 6th. Keefe, Bruyette & Woods lifted their price target on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Barclays initiated coverage on shares of Skyward Specialty Insurance Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $44.00 target price on the stock. Piper Sandler boosted their price target on shares of 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. Finally, Oppenheimer initiated coverage on Skyward Specialty Insurance Group in a research note on Friday, July 12th. They set a “market perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.78.

Skyward Specialty Insurance Group Trading Down 0.6 %

SKWD stock opened at $40.96 on Friday. The firm’s 50-day moving average price is $39.17 and its two-hundred day moving average price is $37.37. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 0.77 and a beta of 0.60. Skyward Specialty Insurance Group, Inc. has a 12-month low of $26.81 and a 12-month high of $42.26.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Monday, August 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.15. The business had revenue of $279.94 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $0.42 EPS. Equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.96 EPS for the current 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.