Jennison Associates LLC lowered its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD – Free Report) by 10.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 422,253 shares of the company’s stock after selling 47,185 shares during the quarter. Jennison Associates LLC’s holdings in Skyward Specialty Insurance Group were worth $18,444,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. Financial Management Professionals Inc. purchased a new position in shares of Skyward Specialty Insurance Group in the 4th quarter valued at $27,000. GAMMA Investing LLC lifted its stake in shares of Skyward Specialty Insurance Group by 75.8% during the 4th quarter. GAMMA Investing LLC now owns 575 shares of the company’s stock worth $29,000 after purchasing an additional 248 shares during the last quarter. Quarry LP lifted its stake in shares of Skyward Specialty Insurance Group by 558.9% during the 3rd quarter. Quarry LP now owns 995 shares of the company’s stock worth $47,000 after purchasing an additional 844 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of Skyward Specialty Insurance Group during the 1st quarter worth $60,000. Finally, Kestra Advisory Services LLC bought a new stake in Skyward Specialty Insurance Group during the fourth quarter valued at about $65,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.
Skyward Specialty Insurance Group Stock Down 1.0%
Shares of Skyward Specialty Insurance Group stock opened at $60.11 on Wednesday. The company has a 50 day moving average price of $52.12 and a 200 day moving average price of $47.82. The firm has a market capitalization of $2.44 billion, a P/E ratio of 14.48 and a beta of 0.34. Skyward Specialty Insurance Group, Inc. has a 52 week low of $40.60 and a 52 week high of $63.03.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. Capital One Financial set a $59.00 target price on Skyward Specialty Insurance Group in a research note on Tuesday, June 9th. Piper Sandler increased their price target on shares of 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. Weiss Ratings upgraded shares of Skyward Specialty Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 8th. 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 report on Tuesday, July 7th. Finally, Texas Capital upgraded shares of Skyward Specialty Insurance Group to a “strong-buy” rating in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.67.
Check Out Our Latest Research Report on SKWD
Insider Transactions at Skyward Specialty Insurance Group
In other news, insider Thomas N. Schmitt sold 8,397 shares of Skyward Specialty Insurance Group stock in a transaction on Friday, June 12th. The shares were sold at an average price of $51.32, for a total transaction of $430,934.04. Following the completion of the sale, the insider directly owned 10,353 shares in the company, valued at approximately $531,315.96. The trade was a 44.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gena L. Ashe sold 740 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $46.35, for a total transaction of $34,299.00. Following the sale, the director directly owned 4,570 shares in the company, valued at $211,819.50. This trade represents a 13.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 8.52% of the company’s stock.
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.
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