Skyward Specialty Insurance Group, Inc. $SKWD Shares Sold by Champlain Investment Partners LLC

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 reduced its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 about 3.90% of Skyward Specialty Insurance Group worth $83,295,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SKWD. Reinhart Partners LLC. purchased a new stake in shares of Skyward Specialty Insurance Group during the 1st quarter worth $49,979,000. Price T Rowe Associates Inc. MD lifted its position in Skyward Specialty Insurance Group by 37.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company's stock valued at $52,995,000 after acquiring an additional 283,749 shares during the last quarter. Nuveen LLC purchased a new stake in Skyward Specialty Insurance Group in the first quarter valued at $14,354,000. Vanguard Group Inc. lifted its position in Skyward Specialty Insurance Group by 10.0% in the first quarter. Vanguard Group Inc. now owns 2,503,156 shares of the company's stock valued at $132,467,000 after acquiring an additional 227,921 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in Skyward Specialty Insurance Group in the fourth quarter valued at $8,052,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Mark W. Haushill sold 52,748 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $58.76, for a total transaction of $3,099,472.48. Following the transaction, the chief financial officer directly 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 legal filing with the SEC, which is available through this link. 7.86% of the stock is currently owned by company insiders.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ:SKWD traded down $0.16 on Monday, reaching $48.30. The company's stock had a trading volume of 375,985 shares, compared to its average volume of 376,812. The stock's 50-day moving average is $51.97 and its two-hundred day moving average is $53.99. Skyward Specialty Insurance Group, Inc. has a 52-week low of $37.79 and a 52-week high of $65.05. The stock has a market capitalization of $1.96 billion, a P/E ratio of 15.19 and a beta of 0.62.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target 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. Truist Financial boosted 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. Piper Sandler reduced their target price on shares of Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating for the company in a report on Friday, August 1st. Finally, Wall Street Zen cut shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.88.

Skyward Specialty Insurance Group 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.