Glenmede Trust Co. NA Acquires 8,200 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Glenmede Trust Co. NA increased its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 72.0% in the 3rd quarter, Holdings Channel reports. The fund owned 19,595 shares of the company’s stock after buying an additional 8,200 shares during the quarter. Glenmede Trust Co. NA’s holdings in Skyward Specialty Insurance Group were worth $798,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Arcadia Investment Management Corp MI purchased a new position in shares of Skyward Specialty Insurance Group in the third quarter worth $41,000. Amalgamated Bank lifted its stake in shares of Skyward Specialty Insurance Group by 27.7% in the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after buying an additional 279 shares in the last quarter. CWM LLC boosted its position in shares of Skyward Specialty Insurance Group by 3,103.1% during the third quarter. CWM LLC now owns 4,132 shares of the company’s stock valued at $168,000 after buying an additional 4,003 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Skyward Specialty Insurance Group in the second quarter worth approximately $160,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Skyward Specialty Insurance Group by 67.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock valued at $204,000 after buying an additional 2,270 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD opened at $54.16 on Wednesday. The firm has a market cap of $2.17 billion, a PE ratio of 16.51, a PEG ratio of 0.98 and a beta of 0.76. The firm’s 50 day moving average price is $46.68 and its 200 day moving average price is $40.86. Skyward Specialty Insurance Group, Inc. has a twelve month low of $29.40 and a twelve month high of $54.86.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.65 by $0.06. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The business had revenue of $300.89 million during the quarter, compared to the consensus estimate of $292.43 million. During the same quarter in the previous year, the firm posted $0.65 EPS. On average, sell-side analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on SKWD. Piper Sandler upped their target price on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Truist Financial restated a “buy” rating and set a $49.00 target price (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research report on Wednesday, August 7th. JMP Securities lifted their price objective on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods increased their price target on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Finally, Raymond James upped their price target on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.89.

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.