Emerald Mutual Fund Advisers Trust Reduces Stock Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Emerald Mutual Fund Advisers Trust trimmed its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 2.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 728,361 shares of the company’s stock after selling 19,552 shares during the period. Skyward Specialty Insurance Group accounts for about 1.4% of Emerald Mutual Fund Advisers Trust’s holdings, making the stock its 22nd largest holding. Emerald Mutual Fund Advisers Trust owned about 1.82% of Skyward Specialty Insurance Group worth $26,352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SKWD. New York State Common Retirement Fund raised its position in shares of Skyward Specialty Insurance Group by 53.8% during the 4th quarter. New York State Common Retirement Fund now owns 10,602 shares of the company’s stock worth $359,000 after acquiring an additional 3,707 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Skyward Specialty Insurance Group by 15.2% during the 4th 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 during the last quarter. Jump Financial LLC boosted its holdings in shares of Skyward Specialty Insurance Group by 10.2% in the 4th quarter. Jump Financial LLC now owns 50,185 shares of the company’s stock valued at $1,700,000 after buying an additional 4,642 shares in the last quarter. Norges Bank purchased a new position in shares of Skyward Specialty Insurance Group in the 4th quarter valued at $10,371,000. Finally, US Bancorp DE raised its stake in Skyward Specialty Insurance Group by 62.9% during the 4th quarter. US Bancorp DE now owns 28,928 shares of the company’s stock worth $980,000 after acquiring an additional 11,167 shares in the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Stock Performance

Shares of Skyward Specialty Insurance Group stock opened at $40.82 on Friday. The company has a market cap of $1.64 billion, a P/E ratio of 15.01, a PEG ratio of 0.75 and a beta of 0.60. The firm has a fifty day moving average of $38.22 and a two-hundred day moving average of $36.90. Skyward Specialty Insurance Group, Inc. has a one year low of $22.97 and a one year high of $41.98.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.15. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. The firm had revenue of $279.94 million during the quarter, compared to the consensus estimate of $282.70 million. During the same quarter last year, the firm earned $0.42 earnings per share. As a group, equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.96 earnings per share for the current year.

Insider Activity

In related news, Director Katharine Terry sold 1,653 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $36.87, for a total transaction of $60,946.11. Following the transaction, the director now owns 4,001 shares of the company’s stock, valued at $147,516.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SKWD. Piper Sandler raised their price objective on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Barclays started coverage on Skyward Specialty Insurance Group in a research report on Wednesday. They set an “equal weight” rating and a $44.00 price target on the stock. JMP Securities increased their price objective on Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the company a “market outperform” rating in a report on Tuesday, August 6th. Oppenheimer started coverage on shares of Skyward Specialty Insurance Group in a report on Friday, July 12th. They issued a “market perform” rating on the stock. Finally, William Blair initiated coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, August 19th. They set an “outperform” rating for the company. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.78.

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.