Squarepoint Ops LLC Purchases 48,148 Shares of Skyward Specialty Insurance Group, Inc. $SKWD

Squarepoint Ops LLC lifted its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 116.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,436 shares of the company’s stock after buying an additional 48,148 shares during the period. Squarepoint Ops LLC owned about 0.22% of Skyward Specialty Insurance Group worth $5,169,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SKWD. Caitong International Asset Management Co. Ltd lifted its stake in Skyward Specialty Insurance Group by 2,223.1% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 604 shares of the company’s stock valued at $35,000 after acquiring an additional 578 shares in the last quarter. LRI Investments LLC raised its holdings in shares of Skyward Specialty Insurance Group by 39.4% in the second quarter. LRI Investments LLC now owns 1,756 shares of the company’s stock valued at $101,000 after purchasing an additional 496 shares during the last quarter. State of Wyoming raised its holdings in shares of Skyward Specialty Insurance Group by 52.4% in the first quarter. State of Wyoming now owns 2,435 shares of the company’s stock valued at $129,000 after purchasing an additional 837 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Skyward Specialty Insurance Group in the second quarter worth $134,000. Finally, Advisors Asset Management Inc. acquired a new position in Skyward Specialty Insurance Group during the second quarter worth $144,000. 94.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SKWD has been the subject of a number of analyst reports. BMO Capital Markets raised their target price on shares of Skyward Specialty Insurance Group from $52.00 to $55.00 and gave the company a “market perform” rating in a research report on Monday, September 8th. Keefe, Bruyette & Woods raised their price objective on Skyward Specialty Insurance Group from $64.00 to $66.00 and gave the company an “outperform” rating in a report on Friday, December 5th. Wolfe Research raised Skyward Specialty Insurance Group to an “outperform” rating in a research report on Monday, September 15th. JMP Securities set a $80.00 target price on Skyward Specialty Insurance Group in a report on Thursday, December 4th. Finally, Piper Sandler increased their price target on Skyward Specialty Insurance Group from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $64.27.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD stock opened at $48.80 on Tuesday. Skyward Specialty Insurance Group, Inc. has a 52-week low of $41.28 and a 52-week high of $65.05. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 14.40 and a beta of 0.55. The firm’s 50-day moving average is $47.51 and its 200-day moving average is $50.56.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.20. The firm had revenue of $382.53 million for the quarter, compared to the consensus estimate of $334.54 million. Skyward Specialty Insurance Group had a return on equity of 17.30% and a net margin of 10.57%.During the same quarter in the previous year, the business earned $0.71 earnings per share. Sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

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.