Jennison Associates LLC Sells 47,185 Shares of Skyward Specialty Insurance Group, Inc. $SKWD

Jennison Associates LLC decreased its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 10.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 422,253 shares of the company’s stock after selling 47,185 shares during the quarter. Jennison Associates LLC owned about 0.95% of Skyward Specialty Insurance Group worth $18,444,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Financial Management Professionals Inc. bought a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter worth about $27,000. GAMMA Investing LLC grew its position in Skyward Specialty Insurance Group by 75.8% in the fourth quarter. GAMMA Investing LLC now owns 575 shares of the company’s stock worth $29,000 after acquiring an additional 248 shares in the last quarter. Quarry LP grew its position in Skyward Specialty Insurance Group by 558.9% in the third quarter. Quarry LP now owns 995 shares of the company’s stock worth $47,000 after acquiring an additional 844 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Skyward Specialty Insurance Group during the fourth quarter worth approximately $65,000. Finally, Fifth Third Bancorp bought a new stake in Skyward Specialty Insurance Group during the first quarter worth approximately $60,000. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD opened at $60.11 on Wednesday. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 14.48 and a beta of 0.34. Skyward Specialty Insurance Group, Inc. has a 1-year low of $40.60 and a 1-year high of $63.03. The company has a 50-day moving average of $52.12 and a 200 day moving average of $47.82.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Wednesday, May 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.12. Skyward Specialty Insurance Group had a net margin of 11.36% and a return on equity of 18.24%. The business had revenue of $475.87 million for the quarter, compared to analyst estimates of $665.12 million. During the same period last year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 4.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

SKWD has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price objective on Skyward Specialty Insurance Group from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Piper Sandler boosted their target price on Skyward Specialty Insurance Group from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Texas Capital upgraded Skyward Specialty Insurance Group to a “strong-buy” rating in a report on Tuesday, June 9th. Capital One Financial set a $59.00 price target on Skyward Specialty Insurance Group in a research report on Tuesday, June 9th. Finally, Barclays lifted their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $67.67.

Insider Activity at Skyward Specialty Insurance Group

In other news, Director Anthony J. Kuczinski acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were bought at an average price of $47.10 per share, with a total value of $94,200.00. Following the completion of the purchase, the director directly owned 15,977 shares in the company, valued at $752,516.70. This trade represents a 14.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gena L. Ashe sold 740 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $46.35, for a total value of $34,299.00. Following the transaction, the director owned 4,570 shares in the company, valued at $211,819.50. The trade was a 13.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 8.52% of the stock is owned by company insiders.

Skyward Specialty Insurance Group Profile

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.