Jennison Associates LLC Reduces Holdings in Skyward Specialty Insurance Group, Inc. $SKWD

Jennison Associates LLC trimmed its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 25.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 469,438 shares of the company’s stock after selling 160,018 shares during the period. Jennison Associates LLC’s holdings in Skyward Specialty Insurance Group were worth $23,993,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Y Intercept Hong Kong Ltd increased its holdings in Skyward Specialty Insurance Group by 407.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 54,384 shares of the company’s stock valued at $2,587,000 after acquiring an additional 43,666 shares in the last quarter. Reinhart Partners LLC. grew its holdings in shares of Skyward Specialty Insurance Group by 68.2% during the third quarter. Reinhart Partners LLC. now owns 1,613,536 shares of the company’s stock worth $76,740,000 after buying an additional 654,500 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 9.2% during the third quarter. American Century Companies Inc. now owns 654,123 shares of the company’s stock worth $31,110,000 after buying an additional 55,361 shares in the last quarter. Chilton Investment Co. Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 48.5% during the third quarter. Chilton Investment Co. Inc. now owns 160,502 shares of the company’s stock worth $7,633,000 after buying an additional 52,439 shares in the last quarter. Finally, GW&K Investment Management LLC grew its holdings in shares of Skyward Specialty Insurance Group by 309.7% during the third quarter. GW&K Investment Management LLC now owns 358,879 shares of the company’s stock worth $17,069,000 after buying an additional 271,281 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Skyward Specialty Insurance Group

In related news, Director Anthony J. Kuczinski bought 1,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was purchased at an average cost of $48.13 per share, for a total transaction of $48,130.00. Following the completion of the acquisition, the director owned 11,903 shares in the company, valued at $572,891.39. This trade represents a 9.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew S. Robinson bought 22,100 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was bought at an average price of $46.76 per share, with a total value of $1,033,396.00. Following the completion of the acquisition, the chief executive officer owned 167,674 shares of the company’s stock, valued at $7,840,436.24. This trade represents a 15.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 30,500 shares of company stock worth $1,433,546. 8.52% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SKWD shares. Citigroup reiterated a “market outperform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, January 16th. Zacks Research downgraded shares of Skyward Specialty Insurance Group from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Keefe, Bruyette & Woods upgraded shares of Skyward Specialty Insurance Group from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, March 13th. Barclays lowered their price target on shares of Skyward Specialty Insurance Group from $63.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Finally, Susquehanna set a $80.00 price target on shares of Skyward Specialty Insurance Group in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.89.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ SKWD opened at $45.44 on Friday. Skyward Specialty Insurance Group, Inc. has a 12 month low of $40.60 and a 12 month high of $65.05. The company has a 50-day simple moving average of $45.28 and a 200-day simple moving average of $46.60. The company has a market cap of $2.02 billion, a PE ratio of 11.16 and a beta of 0.54.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Monday, February 23rd. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.21. Skyward Specialty Insurance Group had a net margin of 12.00% and a return on equity of 17.98%. The firm had revenue of $385.59 million during the quarter, compared to the consensus estimate of $380.86 million. During the same period in the previous year, the firm earned $0.80 earnings per share. On average, analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 4.69 EPS for the current year.

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.