Public Employees Retirement System of Ohio Purchases Shares of 22,585 Skyward Specialty Insurance Group, Inc. $SKWD

Public Employees Retirement System of Ohio acquired a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,585 shares of the company’s stock, valued at approximately $1,318,000.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Skyward Specialty Insurance Group during the second quarter worth about $214,576,000. Reinhart Partners LLC. increased its holdings in Skyward Specialty Insurance Group by 4.1% in the 2nd quarter. Reinhart Partners LLC. now owns 2,894,407 shares of the company’s stock worth $168,889,000 after buying an additional 113,623 shares during the period. Vanguard Group Inc. increased its holdings in Skyward Specialty Insurance Group by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 2,555,033 shares of the company’s stock worth $130,588,000 after buying an additional 102,191 shares during the period. Invesco Ltd. raised its position in Skyward Specialty Insurance Group by 5.1% during the 4th quarter. Invesco Ltd. now owns 1,451,648 shares of the company’s stock worth $74,194,000 after buying an additional 70,255 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Skyward Specialty Insurance Group by 2.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,183,920 shares of the company’s stock worth $60,511,000 after buying an additional 33,677 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Price Performance

NASDAQ:SKWD opened at $56.53 on Wednesday. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 13.18 and a beta of 0.33. The company has a 50 day moving average price of $59.48 and a 200-day moving average price of $51.15. Skyward Specialty Insurance Group, Inc. has a 1-year low of $40.60 and a 1-year high of $65.69.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $489.53 million for the quarter, compared to the consensus estimate of $706.59 million. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 18.72%. On average, sell-side analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 4.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, insider Thomas Schmitt sold 8,397 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $51.32, for a total transaction of $430,934.04. Following the sale, the insider directly owned 10,353 shares of the company’s stock, valued at $531,315.96. This represents a 44.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.52% of the company’s stock.

Analysts Set New Price Targets

SKWD has been the topic of several recent research reports. Capital One Financial set a $59.00 price objective on shares of Skyward Specialty Insurance Group in a report on Tuesday, June 9th. TD Cowen boosted their target price on shares of Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, August 11th. Barclays upped their price target on shares of Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Texas Capital raised Skyward Specialty Insurance Group to a “strong-buy” rating in a research report on Tuesday, June 9th. Finally, Truist Financial lifted their price objective on Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc (NASDAQ: SKWD) is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.