Jennison Associates LLC Decreases Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Jennison Associates LLC lowered its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,083,937 shares of the company's stock after selling 212,189 shares during the quarter. Jennison Associates LLC owned about 2.69% of Skyward Specialty Insurance Group worth $57,362,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SKWD. SG Americas Securities LLC acquired a new stake in Skyward Specialty Insurance Group in the 1st quarter valued at $631,000. Janney Montgomery Scott LLC acquired a new stake in shares of Skyward Specialty Insurance Group during the 1st quarter worth about $544,000. GAMMA Investing LLC increased its position in shares of Skyward Specialty Insurance Group by 6,374.4% during the 1st 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 last quarter. Penserra Capital Management LLC acquired a new position in Skyward Specialty Insurance Group in the 1st quarter valued at about $1,280,000. Finally, Principal Financial Group Inc. grew its position in Skyward Specialty Insurance Group by 17.2% in the 1st quarter. Principal Financial Group Inc. now owns 92,798 shares of the company's stock valued at $4,911,000 after acquiring an additional 13,635 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Skyward Specialty Insurance Group Trading Up 1.2%

NASDAQ SKWD traded up $0.65 on Tuesday, reaching $53.50. The stock had a trading volume of 293,546 shares, compared to its average volume of 369,886. The business has a 50 day moving average price of $58.76 and a 200 day moving average price of $53.11. Skyward Specialty Insurance Group, Inc. has a 1 year low of $34.10 and a 1 year high of $65.05. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 17.83 and a beta of 0.65.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. Skyward Specialty Insurance Group had a return on equity of 16.80% and a net margin of 10.23%. The business had revenue of $328.53 million during the quarter, compared to analysts' expectations of $310.94 million. During the same quarter in the previous year, the firm earned $0.75 EPS. On average, analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SKWD shares. Citigroup restated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, May 2nd. JMP Securities upped their price objective on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a report on Friday, May 2nd. Truist Financial upped their target price on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a "buy" rating in a report on Monday, May 5th. Jefferies Financial Group downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and reduced their target price for the stock from $62.00 to $59.00 in a research report on Friday, April 11th. Finally, Barclays raised their price objective on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a report on Friday, April 11th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $61.75.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, Chairman Kirby Hill sold 8,249 shares of Skyward Specialty Insurance Group stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $60.87, for a total value of $502,116.63. Following the sale, the chairman owned 8,249 shares of the company's stock, valued at $502,116.63. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark W. Haushill sold 52,748 shares of Skyward Specialty Insurance Group 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 7.86% 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.