Cim LLC Takes Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Cim LLC bought a new position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,880 shares of the company’s stock, valued at approximately $249,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SKWD. Ghisallo Capital Management LLC raised its position in shares of Skyward Specialty Insurance Group by 18.5% during the second quarter. Ghisallo Capital Management LLC now owns 118,457 shares of the company’s stock worth $4,286,000 after purchasing an additional 18,457 shares during the period. Driehaus Capital Management LLC lifted its stake in Skyward Specialty Insurance Group by 2.8% during the second quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company’s stock valued at $45,528,000 after buying an additional 34,286 shares in the last quarter. Lighthouse Investment Partners LLC lifted its stake in Skyward Specialty Insurance Group by 93.1% during the second quarter. Lighthouse Investment Partners LLC now owns 112,162 shares of the company’s stock valued at $4,058,000 after buying an additional 54,069 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Skyward Specialty Insurance Group by 30.9% in the second quarter. Millennium Management LLC now owns 278,272 shares of the company’s stock worth $10,068,000 after buying an additional 65,755 shares during the period. Finally, Squarepoint Ops LLC raised its holdings in shares of Skyward Specialty Insurance Group by 98.8% during the second quarter. Squarepoint Ops LLC now owns 26,260 shares of the company’s stock valued at $950,000 after acquiring an additional 13,052 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Katharine Terry sold 1,653 shares of the business’s stock in a transaction on 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 in the company, valued at $147,516.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.01% of the company’s stock.

Skyward Specialty Insurance Group Stock Up 0.4 %

SKWD stock opened at $41.10 on Thursday. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 0.77 and a beta of 0.60. The firm has a 50 day moving average of $39.35 and a two-hundred day moving average of $37.49. Skyward Specialty Insurance Group, Inc. has a 12 month low of $27.12 and a 12 month high of $42.26.

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 the consensus estimate of $0.65 by $0.15. The company had revenue of $279.94 million for 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 period last year, the company earned $0.42 earnings per share. On average, research analysts expect that Skyward Specialty Insurance Group, Inc. will post 2.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Piper Sandler raised their price objective 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. Oppenheimer initiated coverage on Skyward Specialty Insurance Group in a report on Friday, July 12th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods increased their price objective on 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 assumed coverage on Skyward Specialty Insurance Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $44.00 target price on the stock. Finally, Truist Financial restated a “buy” rating and set a $49.00 price target (up from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and an average target price of $43.78.

Skyward Specialty Insurance Group Company 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.