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

Jennison Associates LLC trimmed its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 37.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 850,729 shares of the company's stock after selling 505,572 shares during the period. Jennison Associates LLC owned about 2.26% of Skyward Specialty Insurance Group worth $28,823,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Skyward Specialty Insurance Group by 109.5% in the third quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company's stock valued at $41,390,000 after purchasing an additional 790,826 shares during the period. American Century Companies Inc. boosted its position in Skyward Specialty Insurance Group by 10.3% during the third quarter. American Century Companies Inc. now owns 587,687 shares of the company's stock valued at $16,079,000 after acquiring an additional 54,945 shares during the last quarter. Peregrine Capital Management LLC boosted its position in Skyward Specialty Insurance Group by 27.4% during the fourth quarter. Peregrine Capital Management LLC now owns 520,485 shares of the company's stock valued at $17,634,000 after acquiring an additional 112,081 shares during the last quarter. Federated Hermes Inc. boosted its position in Skyward Specialty Insurance Group by 312.5% during the fourth quarter. Federated Hermes Inc. now owns 412,382 shares of the company's stock valued at $13,972,000 after acquiring an additional 312,413 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Skyward Specialty Insurance Group by 223.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 389,530 shares of the company's stock valued at $13,197,000 after acquiring an additional 269,080 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Trading Down 0.8 %

NASDAQ SKWD traded down $0.28 during trading hours on Thursday, hitting $35.96. The company's stock had a trading volume of 174,547 shares, compared to its average volume of 302,868. Skyward Specialty Insurance Group, Inc. has a 52 week low of $20.85 and a 52 week high of $38.64. The company has a market capitalization of $1.44 billion, a PE ratio of 16.05 and a beta of 0.45. The company's 50-day simple moving average is $36.18 and its two-hundred day simple moving average is $33.04.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05. Skyward Specialty Insurance Group had a net margin of 9.56% and a return on equity of 14.31%. The business had revenue of $321.60 million for the quarter, compared to analysts' expectations of $320.34 million. During the same quarter last year, the firm earned $0.36 EPS. The firm's revenue for the quarter was up 21.5% compared to the same quarter last year. Research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 2.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SKWD shares. BMO Capital Markets upped their price target on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a "market perform" rating in a research report on Monday, February 26th. Keefe, Bruyette & Woods upped their price target on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an "outperform" rating in a research report on Wednesday, April 10th. Wolfe Research assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Thursday, January 11th. They set an "outperform" rating and a $39.00 price objective on the stock. Truist Financial increased their price objective on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the stock a "buy" rating in a research report on Thursday, February 22nd. Finally, Piper Sandler increased their price objective on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an "overweight" rating in a research report on Monday, April 1st. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $39.89.

Insider Activity at Skyward Specialty Insurance Group

In related news, CFO Mark W. Haushill sold 35,000 shares of the firm's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $35.96, for a total value of $1,258,600.00. Following the transaction, the chief financial officer now owns 261,688 shares of the company's stock, valued at approximately $9,410,300.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 13,374 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $35.70, for a total value of $477,451.80. Following the completion of the sale, the chief executive officer now owns 96,883 shares in the company, valued at approximately $3,458,723.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mark W. Haushill sold 35,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the completion of the sale, the chief financial officer now owns 261,688 shares of the company's stock, valued at approximately $9,410,300.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,890 shares of company stock valued at $3,533,839. 8.01% of the stock is owned by corporate insiders.

Skyward Specialty Insurance Group Profile

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.