Champlain Investment Partners LLC Lowers Position in Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Champlain Investment Partners LLC reduced its stake in Skyward Specialty Insurance Group by 2.0% in Q1 2023, now owning approximately 3.90% of the company valued at $83.3 million.
• Skyward Specialty Insurance Group's stock reported a 0.2% increase, with a market cap of $1.97 billion and a price-to-earnings ratio of 15.34.
• The company beat analysts' EPS expectations by $0.03, reporting $0.89 EPS, and had a net margin of 10.53% during its last earnings report.

Champlain Investment Partners LLC lowered its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,573,984 shares of the company's stock after selling 32,670 shares during the period. Champlain Investment Partners LLC owned 3.90% of Skyward Specialty Insurance Group worth $83,295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. LRI Investments LLC bought a new stake in Skyward Specialty Insurance Group in the first quarter worth $67,000. KBC Group NV bought a new stake in Skyward Specialty Insurance Group in the first quarter worth $81,000. ORG Wealth Partners LLC increased its position in Skyward Specialty Insurance Group by 86.9% in the first quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company's stock worth $123,000 after purchasing an additional 1,057 shares during the last quarter. New York State Teachers Retirement System bought a new stake in Skyward Specialty Insurance Group in the first quarter worth $179,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Skyward Specialty Insurance Group in the first quarter worth $201,000. Institutional investors own 94.83% of the company's stock.

Skyward Specialty Insurance Group Trading Down 0.3%

Shares of NASDAQ SKWD traded down $0.16 during mid-day trading on Friday, reaching $48.30. The company had a trading volume of 375,985 shares, compared to its average volume of 381,162. The business's 50-day moving average is $51.97 and its 200-day moving average is $53.93. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 15.19 and a beta of 0.62. 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 results on Wednesday, July 30th. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. The firm had revenue of $319.90 million for the quarter, compared to analysts' expectations of $324.64 million. Skyward Specialty Insurance Group had a net margin of 10.53% and a return on equity of 16.40%. During the same period in the prior year, the business posted $0.80 earnings per share. As a group, equities research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SKWD shares. Piper Sandler reduced their price target on shares of Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating on the stock in a research report on Friday, August 1st. JMP Securities boosted 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 report on Friday, May 2nd. Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. Truist Financial boosted their price objective 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. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 29th. One investment 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 stock. According to data from MarketBeat, Skyward Specialty Insurance Group presently has an average rating of "Moderate Buy" and a consensus price target of $60.88.

Insider Activity at Skyward Specialty Insurance Group

In other news, CFO Mark W. Haushill sold 52,748 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $58.76, for a total value of $3,099,472.48. Following the transaction, the chief financial officer directly owned 133,629 shares in the company, valued at approximately $7,852,040.04. This represents a 28.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.01% of the company's stock.

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.