Jennison Associates LLC Sells 160,018 Shares of Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Jennison Associates cut its stake in Skyward Specialty by 25.4%, selling 160,018 shares and now holds 469,438 shares (~1.16% of the company) worth roughly $23.99 million.
• Company insiders increased positions recently — CEO Andrew S. Robinson bought 22,100 shares and Director Anthony J. Kuczinski bought 1,000 shares; insiders purchased a total of 30,500 shares in the last 90 days and now own 8.52% of the stock.
• Skyward reported a quarterly EPS beat ($1.17 vs. $0.96) with a market cap of about $2.02 billion and a P/E of 11.16, while analysts have an average "Moderate Buy" rating and a $65.89 average target price.

Jennison Associates LLC lowered its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 25.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 469,438 shares of the company's stock after selling 160,018 shares during the period. Jennison Associates LLC owned about 1.16% of Skyward Specialty Insurance Group worth $23,993,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in shares of Skyward Specialty Insurance Group during the 4th quarter valued at $27,000. GAMMA Investing LLC grew its holdings in shares of Skyward Specialty Insurance Group by 75.8% during the 4th quarter. GAMMA Investing LLC now owns 575 shares of the company's stock valued at $29,000 after purchasing an additional 248 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 1,210.5% during the 3rd quarter. Assetmark Inc. now owns 747 shares of the company's stock valued at $36,000 after purchasing an additional 690 shares during the last quarter. Quarry LP grew its holdings in shares of Skyward Specialty Insurance Group by 558.9% during the 3rd quarter. Quarry LP now owns 995 shares of the company's stock valued at $47,000 after purchasing an additional 844 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in Skyward Specialty Insurance Group by 140.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,462 shares of the company's stock valued at $84,000 after buying an additional 855 shares during the period. Institutional investors own 94.83% of the company's stock.

Insider Transactions at Skyward Specialty Insurance Group

In related news, Director Anthony J. Kuczinski bought 1,000 shares of the company's stock in a transaction dated Tuesday, March 3rd. The stock was purchased at an average cost of $48.13 per share, with a total value of $48,130.00. Following the transaction, the director owned 11,903 shares in the company, valued at approximately $572,891.39. This trade represents a 9.17% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew S. Robinson bought 22,100 shares of the company's stock in a transaction dated Friday, February 27th. The stock was bought at an average cost of $46.76 per share, with a total value of $1,033,396.00. Following the completion of the transaction, the chief executive officer owned 167,674 shares in the company, valued at approximately $7,840,436.24. This trade represents a 15.18% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 30,500 shares of company stock valued at $1,433,546. Company insiders own 8.52% of the company's stock.

Skyward Specialty Insurance Group Stock Down 0.0%

Shares of SKWD opened at $45.44 on Friday. The stock has a market capitalization of $2.02 billion, a P/E ratio of 11.16 and a beta of 0.54. The firm has a fifty day simple moving average of $45.28 and a two-hundred day simple moving average of $46.60. Skyward Specialty Insurance Group, Inc. has a twelve month low of $40.60 and a twelve month high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its earnings results on Monday, February 23rd. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.96 by $0.21. Skyward Specialty Insurance Group had a net margin of 12.00% and a return on equity of 17.98%. The firm had revenue of $385.59 million during the quarter, compared to analysts' expectations of $380.86 million. During the same period last year, the company posted $0.80 EPS. Sell-side analysts expect that Skyward Specialty Insurance Group, Inc. will post 4.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wall Street Zen cut shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Susquehanna set a $80.00 price target on shares of Skyward Specialty Insurance Group in a research report on Friday, January 16th. Weiss Ratings cut shares of Skyward Specialty Insurance Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, March 19th. Barclays dropped their price target on shares of Skyward Specialty Insurance Group from $63.00 to $57.00 and set an "overweight" rating for the company in a research report on Wednesday, April 8th. Finally, Piper Sandler dropped their price target on shares of Skyward Specialty Insurance Group from $65.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $65.89.

Skyward Specialty Insurance Group Profile

Skyward Specialty Insurance Group, Inc NASDAQ: SKWD is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.

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