Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 37.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 850,729 shares of the company’s stock after selling 505,572 shares during the quarter. Jennison Associates LLC’s holdings in Skyward Specialty Insurance Group were worth $28,823,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SKWD. Vanguard Group Inc. increased its position in Skyward Specialty Insurance Group by 109.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company’s stock worth $41,390,000 after purchasing an additional 790,826 shares in the last quarter. Ashford Capital Management Inc. purchased a new position in Skyward Specialty Insurance Group in the 3rd quarter worth approximately $9,707,000. Jacobs Levy Equity Management Inc. boosted its holdings in Skyward Specialty Insurance Group by 1,072.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 344,648 shares of the company’s stock worth $9,430,000 after acquiring an additional 315,252 shares during the period. Federated Hermes Inc. boosted its holdings in Skyward Specialty Insurance Group by 312.5% in the 4th quarter. Federated Hermes Inc. now owns 412,382 shares of the company’s stock worth $13,972,000 after acquiring an additional 312,413 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Skyward Specialty Insurance Group by 223.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 389,530 shares of the company’s stock worth $13,197,000 after acquiring an additional 269,080 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Insider Activity at Skyward Specialty Insurance Group

In related news, CFO Mark W. Haushill sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $35.58, for a total transaction of $889,500.00. Following the sale, the chief financial officer now directly owns 236,688 shares of the company’s stock, valued at approximately $8,421,359.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 25,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $35.58, for a total value of $889,500.00. Following the sale, the chief financial officer now directly owns 236,688 shares of the company’s stock, valued at $8,421,359.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew S. Robinson sold 13,374 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total value of $477,451.80. Following the completion of the sale, the chief executive officer now directly owns 96,883 shares in the company, valued at $3,458,723.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 98,890 shares of company stock valued at $3,533,839. Corporate insiders own 8.01% of the company’s stock.

Skyward Specialty Insurance Group Trading Down 0.8 %

Skyward Specialty Insurance Group stock opened at $36.24 on Thursday. The stock has a market cap of $1.45 billion, a P/E ratio of 16.18 and a beta of 0.45. Skyward Specialty Insurance Group, Inc. has a 52 week low of $20.81 and a 52 week high of $38.64. The stock has a 50 day moving average of $36.13 and a 200-day moving average of $33.02.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. The business had revenue of $321.60 million for the quarter, compared to analyst estimates of $320.34 million. Skyward Specialty Insurance Group had a return on equity of 14.31% and a net margin of 9.56%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. As a group, equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SKWD has been the subject of a number of analyst reports. JMP Securities upped their price target on Skyward Specialty Insurance Group from $40.00 to $42.00 and gave the stock a “market outperform” rating in a report on Monday, April 15th. Wolfe Research initiated coverage on Skyward Specialty Insurance Group in a report on Thursday, January 11th. They issued an “outperform” rating and a $39.00 price target for the company. Truist Financial upped their price target on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Keefe, Bruyette & Woods upped their price target on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, BMO Capital Markets increased their target price on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $39.89.

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.