Strs Ohio Sells 81,689 Shares of Skyward Specialty Insurance Group, Inc. $SKWD

Key Points

• Strs Ohio sharply reduced its Skyward Specialty Insurance Group stake in the first quarter, selling 81,689 shares and cutting its holdings by 93.3% to 5,900 shares valued at about $258,000.
• Insider selling continued, with Director Gena L. Ashe and insider Thomas N. Schmitt both trimming their positions; insiders now own 8.52% of the company.
• Skyward Specialty posted solid earnings for the quarter, beating EPS estimates at $1.25, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $67.22.

Strs Ohio trimmed its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 93.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,900 shares of the company's stock after selling 81,689 shares during the quarter. Strs Ohio's holdings in Skyward Specialty Insurance Group were worth $258,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Royce & Associates LP raised its stake in shares of Skyward Specialty Insurance Group by 24.9% during the 4th quarter. Royce & Associates LP now owns 202,659 shares of the company's stock worth $10,358,000 after purchasing an additional 40,339 shares during the period. Teacher Retirement System of Texas grew its position in Skyward Specialty Insurance Group by 26.4% during the fourth quarter. Teacher Retirement System of Texas now owns 147,406 shares of the company's stock valued at $7,534,000 after buying an additional 30,763 shares during the period. UBS Group AG grew its position in Skyward Specialty Insurance Group by 44.5% during the fourth quarter. UBS Group AG now owns 234,366 shares of the company's stock valued at $11,978,000 after buying an additional 72,196 shares during the period. Vanguard Group Inc. increased its holdings in Skyward Specialty Insurance Group by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 2,555,033 shares of the company's stock worth $130,588,000 after buying an additional 102,191 shares during the last quarter. Finally, Chilton Investment Co. Inc. increased its holdings in Skyward Specialty Insurance Group by 48.5% during the third quarter. Chilton Investment Co. Inc. now owns 160,502 shares of the company's stock worth $7,633,000 after buying an additional 52,439 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Gena L. Ashe sold 740 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $46.35, for a total transaction of $34,299.00. Following the completion of the sale, the director directly owned 4,570 shares in the company, valued at $211,819.50. This represents a 13.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Thomas N. Schmitt sold 8,397 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $51.32, for a total value of $430,934.04. Following the completion of the sale, the insider directly owned 10,353 shares in the company, valued at $531,315.96. The trade was a 44.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 8.52% of the company's stock.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD traded down $0.76 during trading hours on Friday, hitting $59.34. The company's stock had a trading volume of 649,522 shares, compared to its average volume of 670,454. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 14.30 and a beta of 0.34. The business has a 50 day simple moving average of $50.18 and a two-hundred day simple moving average of $47.49. Skyward Specialty Insurance Group, Inc. has a 52-week low of $40.60 and a 52-week high of $63.03.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.25 earnings per share (EPS) 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 company had revenue of $475.87 million for the quarter, compared to analyst estimates of $665.12 million. During the same period in the previous year, the company posted $0.90 EPS. The firm's revenue for the quarter was up 9.9% compared to the same quarter last year. Research analysts predict that Skyward Specialty Insurance Group, Inc. will post 4.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

SKWD has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Skyward Specialty Insurance Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Capital One Financial set a $59.00 price target on shares of Skyward Specialty Insurance Group in a report on Tuesday, June 9th. Piper Sandler upped their price objective on Skyward Specialty Insurance Group from $55.00 to $68.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Wall Street Zen downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Finally, Barclays raised their target price on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $67.22.

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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