Federated Hermes Inc. Raises Stock Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Federated Hermes Inc. grew its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 312.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 412,382 shares of the company’s stock after acquiring an additional 312,413 shares during the period. Federated Hermes Inc. owned about 1.09% of Skyward Specialty Insurance Group worth $13,972,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SKWD. Vanguard Group Inc. increased its position in shares of Skyward Specialty Insurance Group by 109.5% in the third quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company’s stock valued at $41,390,000 after buying an additional 790,826 shares in the last quarter. Jennison Associates LLC increased its position in shares of Skyward Specialty Insurance Group by 35.2% in the third quarter. Jennison Associates LLC now owns 1,356,301 shares of the company’s stock valued at $37,108,000 after buying an additional 352,971 shares in the last quarter. American Century Companies Inc. increased its position in shares of Skyward Specialty Insurance Group by 10.3% in the third quarter. American Century Companies Inc. now owns 587,687 shares of the company’s stock valued at $16,079,000 after buying an additional 54,945 shares in the last quarter. Peregrine Capital Management LLC increased its position in shares of Skyward Specialty Insurance Group by 27.4% in the fourth quarter. Peregrine Capital Management LLC now owns 520,485 shares of the company’s stock valued at $17,634,000 after buying an additional 112,081 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Skyward Specialty Insurance Group by 223.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 389,530 shares of the company’s stock valued at $13,197,000 after buying an additional 269,080 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

NASDAQ SKWD opened at $36.53 on Tuesday. The firm has a market capitalization of $1.46 billion, a P/E ratio of 16.31 and a beta of 0.45. Skyward Specialty Insurance Group, Inc. has a 1-year low of $20.81 and a 1-year high of $38.64. The business’s 50-day simple moving average is $35.96 and its 200-day simple moving average is $32.94.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05. The business had revenue of $321.60 million for the quarter, compared to analyst estimates of $320.34 million. Skyward Specialty Insurance Group had a return on equity of 14.31% and a net margin of 9.56%. The company’s revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. On average, equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 2.64 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mark W. Haushill sold 25,000 shares of Skyward Specialty Insurance Group stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $35.58, for a total value of $889,500.00. Following the transaction, the chief financial officer now directly owns 236,688 shares of the company’s stock, valued at approximately $8,421,359.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Mark W. Haushill sold 25,000 shares of Skyward Specialty Insurance Group stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $35.58, for a total value of $889,500.00. Following the transaction, the chief financial officer now directly owns 236,688 shares of the company’s stock, valued at approximately $8,421,359.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew S. Robinson sold 12,109 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $35.56, for a total value of $430,596.04. Following the sale, the chief executive officer now owns 74,533 shares in the company, valued at $2,650,393.48. The disclosure for this sale can be found here. Insiders have sold 98,890 shares of company stock valued at $3,533,839 in the last three months. Corporate insiders own 8.01% of the company’s stock.

Analyst Ratings Changes

SKWD has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their price objective on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. BMO Capital Markets increased their price objective on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. JMP Securities increased their price objective on Skyward Specialty Insurance Group from $40.00 to $42.00 and gave the company a “market outperform” rating in a research note on Monday, April 15th. Wolfe Research initiated coverage on Skyward Specialty Insurance Group in a research note on Thursday, January 11th. They set an “outperform” rating and a $39.00 price objective on the stock. Finally, Piper Sandler increased their price objective on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $39.89.

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.