Skyward Specialty Insurance Group, Inc. $SKWD Shares Sold by Emerald Advisers LLC

Key Points

• Emerald Advisers LLC reduced its position in Skyward Specialty Insurance Group by 4.5% in the first quarter, selling 29,760 shares and ending with 627,908 shares valued at about $27.4 million. Institutional investors still own a large majority of the stock at 94.83%.
• SKWD shares were trading near recent highs, opening at $59.76 and sitting well above both the 50-day and 200-day moving averages. The stock has traded between $40.60 and $63.03 over the past year.
• Recent earnings and analyst sentiment have been positive, with the company reporting $1.25 EPS for the quarter, beating estimates, while analysts now have a consensus rating of “Moderate Buy” and an average price target of $67.22.

Emerald Advisers LLC lowered its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 627,908 shares of the company's stock after selling 29,760 shares during the quarter. Emerald Advisers LLC owned about 1.41% of Skyward Specialty Insurance Group worth $27,427,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC raised its stake in Skyward Specialty Insurance Group by 30.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,285 shares of the company's stock valued at $332,000 after acquiring an additional 1,456 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Skyward Specialty Insurance Group by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,096 shares of the company's stock valued at $1,169,000 after purchasing an additional 967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Skyward Specialty Insurance Group by 16.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,804 shares of the company's stock valued at $5,282,000 after purchasing an additional 14,217 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Skyward Specialty Insurance Group by 286.1% in the first quarter. Jane Street Group LLC now owns 33,768 shares of the company's stock valued at $1,787,000 after purchasing an additional 25,022 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Skyward Specialty Insurance Group by 5.9% in the second quarter. JPMorgan Chase & Co. now owns 106,039 shares of the company's stock valued at $6,128,000 after purchasing an additional 5,913 shares during the period. Institutional investors and hedge funds own 94.83% of the company's stock.

Skyward Specialty Insurance Group Trading Up 0.7%

Shares of SKWD stock opened at $59.76 on Tuesday. The stock has a 50 day simple moving average of $50.47 and a 200-day simple moving average of $47.52. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 14.40 and a beta of 0.34. Skyward Specialty Insurance Group, Inc. has a 12-month low of $40.60 and a 12-month high of $63.03.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.12. Skyward Specialty Insurance Group had a return on equity of 18.24% and a net margin of 11.36%.The firm had revenue of $475.87 million for the quarter, compared to the consensus estimate of $665.12 million. During the same period in the previous year, the business earned $0.90 earnings per share. The company's revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities analysts forecast that Skyward Specialty Insurance Group, Inc. will post 4.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Anthony J. Kuczinski bought 2,000 shares of the firm's stock in a transaction on Thursday, May 21st. The shares were bought at an average cost of $47.10 per share, for a total transaction of $94,200.00. Following the transaction, the director owned 15,977 shares of the company's stock, valued at approximately $752,516.70. This trade represents a 14.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gena L. Ashe sold 740 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $46.35, for a total transaction of $34,299.00. Following the transaction, the director directly owned 4,570 shares in the company, valued at approximately $211,819.50. This trade represents a 13.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 8.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Texas Capital raised Skyward Specialty Insurance Group to a "strong-buy" rating in a report on Tuesday, June 9th. Weiss Ratings raised shares of Skyward Specialty Insurance Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, July 8th. Capital One Financial set a $59.00 price objective on shares of Skyward Specialty Insurance Group in a research note on Tuesday, June 9th. Piper Sandler upped their price objective on shares of Skyward Specialty Insurance Group from $55.00 to $68.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Skyward Specialty Insurance Group from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.22.

Skyward Specialty Insurance Group Company 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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