Jennison Associates LLC Has $54.38 Million Holdings in Skyward Specialty Insurance Group, Inc. $SKWD

Jennison Associates LLC lessened its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 13.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 940,913 shares of the company’s stock after selling 143,024 shares during the period. Jennison Associates LLC’s holdings in Skyward Specialty Insurance Group were worth $54,375,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in shares of Skyward Specialty Insurance Group during the first quarter worth $544,000. Penserra Capital Management LLC acquired a new position in Skyward Specialty Insurance Group in the first quarter valued at $1,280,000. Envestnet Asset Management Inc. lifted its holdings in Skyward Specialty Insurance Group by 36.7% in the first quarter. Envestnet Asset Management Inc. now owns 103,016 shares of the company’s stock valued at $5,452,000 after buying an additional 27,669 shares during the period. Principal Financial Group Inc. lifted its holdings in Skyward Specialty Insurance Group by 17.2% in the first quarter. Principal Financial Group Inc. now owns 92,798 shares of the company’s stock valued at $4,911,000 after buying an additional 13,635 shares during the period. Finally, WCM Investment Management LLC lifted its holdings in Skyward Specialty Insurance Group by 23.1% in the first quarter. WCM Investment Management LLC now owns 445,012 shares of the company’s stock valued at $23,417,000 after buying an additional 83,623 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Price Performance

NASDAQ:SKWD opened at $45.01 on Thursday. The firm has a 50-day moving average of $47.70 and a 200-day moving average of $53.00. The company has a market cap of $1.82 billion, a PE ratio of 14.15 and a beta of 0.58. Skyward Specialty Insurance Group, Inc. has a one year low of $41.28 and a one year high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Wednesday, October 29th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.85 by $0.20. Skyward Specialty Insurance Group had a net margin of 10.53% and a return on equity of 16.40%. During the same quarter in the prior year, the firm earned $0.71 earnings per share. On average, equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SKWD has been the topic of several recent analyst reports. Wolfe Research upgraded shares of Skyward Specialty Insurance Group to an “outperform” rating in a report on Monday, September 15th. Citigroup restated an “outperform” rating on shares of Skyward Specialty Insurance Group in a report on Thursday, September 4th. Piper Sandler dropped their target price on shares of Skyward Specialty Insurance Group from $69.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, August 1st. Weiss Ratings restated a “buy (b)” rating on shares of Skyward Specialty Insurance Group in a report on Wednesday, October 8th. Finally, JMP Securities boosted their target price on shares of Skyward Specialty Insurance Group from $65.00 to $70.00 and gave the company a “market outperform” rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.70.

Skyward Specialty Insurance Group Company Profile

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.