Y Intercept Hong Kong Ltd Takes $880,000 Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Y Intercept Hong Kong Ltd acquired a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,417 shares of the company’s stock, valued at approximately $880,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Chartwell Investment Partners LLC raised its holdings in Skyward Specialty Insurance Group by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 38,037 shares of the company’s stock valued at $1,549,000 after acquiring an additional 306 shares in the last quarter. IHT Wealth Management LLC raised its holdings in Skyward Specialty Insurance Group by 4.6% in the third quarter. IHT Wealth Management LLC now owns 10,501 shares of the company’s stock valued at $428,000 after acquiring an additional 464 shares in the last quarter. Quarry LP raised its holdings in Skyward Specialty Insurance Group by 176.9% in the third quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after acquiring an additional 879 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Skyward Specialty Insurance Group in the third quarter valued at approximately $41,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Skyward Specialty Insurance Group by 0.3% in the third quarter. The Manufacturers Life Insurance Company now owns 336,882 shares of the company’s stock valued at $13,721,000 after acquiring an additional 1,032 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Price Performance

Shares of Skyward Specialty Insurance Group stock opened at $52.21 on Friday. The firm’s fifty day simple moving average is $47.42 and its 200-day simple moving average is $45.87. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 0.81 and a beta of 0.83. Skyward Specialty Insurance Group, Inc. has a 12 month low of $33.27 and a 12 month high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The business had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $295.56 million. Analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director James Charles Hays sold 25,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total value of $1,350,000.00. Following the completion of the transaction, the director now owns 747,261 shares of the company’s stock, valued at approximately $40,352,094. The trade was a 3.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew S. Robinson sold 6,010 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total transaction of $296,713.70. Following the completion of the transaction, the chief executive officer now directly owns 77,144 shares of the company’s stock, valued at $3,808,599.28. The trade was a 7.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,318 shares of company stock worth $2,098,866. Corporate insiders own 8.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SKWD. Piper Sandler reduced their target price on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 target price on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Keefe, Bruyette & Woods raised their price objective on shares of Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Barclays raised their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, Raymond James raised their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.75.

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.