Skyward Specialty Insurance Group, Inc. $SKWD Stock Sold by Alamar Capital Management LLC

Key Points

• Alamar Capital Management cut its Skyward Specialty Insurance Group stake by 57.3% in the third quarter, selling 21,280 shares and retaining 15,840 shares valued at about $836,000.
• Institutional investors own 94.83% of SKWD shares, with several major funds increasing their positions; analyst consensus is Moderate Buy with an average price target of $71.44.
• Skyward beat quarterly EPS expectations, reporting $1.28 per share versus $1.22 consensus, but revenue of $455.34 million fell well short of estimates of about $753.9 million.

Alamar Capital Management LLC lowered its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 57.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,840 shares of the company's stock after selling 21,280 shares during the quarter. Alamar Capital Management LLC's holdings in Skyward Specialty Insurance Group were worth $836,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SKWD. BlackRock Inc. bought a new position in shares of Skyward Specialty Insurance Group in the second quarter worth about $214,576,000. Reinhart Partners LLC. increased its holdings in shares of Skyward Specialty Insurance Group by 4.1% in the second quarter. Reinhart Partners LLC. now owns 2,894,407 shares of the company's stock valued at $168,889,000 after purchasing an additional 113,623 shares in the last quarter. Wasatch Advisors LP boosted its holdings in shares of Skyward Specialty Insurance Group by 198.5% during the 2nd quarter. Wasatch Advisors LP now owns 954,489 shares of the company's stock worth $55,694,000 after buying an additional 634,708 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Skyward Specialty Insurance Group by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 854,789 shares of the company's stock valued at $37,337,000 after purchasing an additional 36,997 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Skyward Specialty Insurance Group by 24.6% in the first quarter. Royal Bank of Canada now owns 504,858 shares of the company's stock worth $22,052,000 after buying an additional 99,786 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

Skyward Specialty Insurance Group News Roundup

Here are the key news stories impacting Skyward Specialty Insurance Group this week:

• Positive Sentiment: Skyward earned $1.28 per share, above the $1.22 consensus and up from $1.05 a year earlier. Barclays raised its price target to $71 from $68 and kept an “overweight” rating, signaling confidence in further upside. Q3 earnings beat estimates Barclays target increase
• Neutral Sentiment: Despite the earnings beat, an article cautioned that SKWD could be trading above fair value, suggesting valuation may limit gains even as quarterly results were strong. Valuation and Q3 results
• Negative Sentiment: Revenue was reported at $455.34 million, well below analyst estimates of about $753.9 million. That sizable sales shortfall could overshadow the EPS beat and contribute to pressure on the stock. Q3 sales miss

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SKWD. Barclays upped their target price on shares of Skyward Specialty Insurance Group from $68.00 to $71.00 and gave the stock an "overweight" rating in a research report on Friday. Wall Street Zen upgraded shares of Skyward Specialty Insurance Group from a "hold" rating to a "buy" rating in a research report on Sunday, October 18th. Weiss Ratings lowered shares of Skyward Specialty Insurance Group from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, October 30th. Piper Sandler restated an "overweight" rating on shares of Skyward Specialty Insurance Group in a research note on Monday, August 24th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $71.44.

Skyward Specialty Insurance Group Stock Down 5.5%

NASDAQ SKWD opened at $60.35 on Friday. The company has a market capitalization of $2.68 billion, a P/E ratio of 14.10 and a beta of 0.32. The firm has a 50-day moving average price of $57.99 and a two-hundred day moving average price of $52.00. Skyward Specialty Insurance Group, Inc. has a 12-month low of $40.60 and a 12-month high of $65.69.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.06. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 18.72%. The company had revenue of $455.34 million during the quarter, compared to the consensus estimate of $753.93 million. Equities analysts expect that Skyward Specialty Insurance Group, Inc. will post 5.00 EPS for the current year.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc is a specialty property and casualty insurance company headquartered in Houston, Texas. Through its insurance subsidiaries, the company provides customized coverage for businesses and organizations that may be underserved by the standard insurance market.

Its offerings include excess and surplus lines insurance, professional liability, healthcare liability, workers' compensation, surety, commercial property and casualty coverage, specialty programs, and accident and health products.

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