Skyward Specialty Insurance Group, Inc. $SKWD Shares Sold by Brant Point Investment Management LLC

Key Points

• Brant Point Investment Management LLC reduced its stake in Skyward Specialty Insurance Group by 50.3%, holding now 9,880 shares valued at $523,000.
• Skyward Specialty Insurance Group reported $0.89 earnings per share for the last quarter, exceeding analysts' expectations of $0.86.
• Analysts have varying price targets for the stock, with an average target of $60.88 and ratings including one Strong Buy, six Buy, and three Hold.

Brant Point Investment Management LLC cut its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 50.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,880 shares of the company's stock after selling 10,000 shares during the period. Brant Point Investment Management LLC's holdings in Skyward Specialty Insurance Group were worth $523,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in SKWD. SG Americas Securities LLC acquired a new position in shares of Skyward Specialty Insurance Group in the 1st quarter worth approximately $631,000. Janney Montgomery Scott LLC bought a new position in shares of Skyward Specialty Insurance Group in the 1st quarter valued at about $544,000. GAMMA Investing LLC grew its holdings in Skyward Specialty Insurance Group by 6,374.4% during the first quarter. GAMMA Investing LLC now owns 17,675 shares of the company's stock worth $935,000 after purchasing an additional 17,402 shares during the period. Penserra Capital Management LLC bought a new position in Skyward Specialty Insurance Group during the first quarter worth about $1,280,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 36.7% during the first quarter. Envestnet Asset Management Inc. now owns 103,016 shares of the company's stock worth $5,452,000 after acquiring an additional 27,669 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SKWD. Truist Financial lifted their price target on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Wall Street Zen cut shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Keefe, Bruyette & Woods increased their price objective on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 29th. Piper Sandler lowered 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. Finally, JMP Securities raised their price target on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $60.88.

Insider Activity

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 52,748 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $58.76, for a total transaction of $3,099,472.48. Following the completion of the transaction, the chief financial officer owned 133,629 shares in the company, valued at $7,852,040.04. The trade was a 28.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.01% of the stock is owned by company insiders.

Skyward Specialty Insurance Group Stock Down 0.3%

SKWD traded down $0.16 during mid-day trading on Friday, reaching $48.30. 375,985 shares of the company traded hands, compared to its average volume of 381,162. The stock has a market capitalization of $1.96 billion, a P/E ratio of 15.19 and a beta of 0.62. The company's fifty day moving average price is $51.97 and its 200-day moving average price is $53.97. Skyward Specialty Insurance Group, Inc. has a 52-week low of $37.79 and a 52-week high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.86 by $0.03. The firm had revenue of $319.90 million during the quarter, compared to analyst estimates of $324.64 million. Skyward Specialty Insurance Group had a return on equity of 16.40% and a net margin of 10.53%.During the same period in the prior year, the business posted $0.80 EPS. As a group, sell-side analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

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.