Skyward Specialty Insurance Group, Inc. $SKWD Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 56.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,300 shares of the company’s stock after selling 89,600 shares during the period. Renaissance Technologies LLC owned about 0.17% of Skyward Specialty Insurance Group worth $3,027,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Financial Management Professionals Inc. acquired a new position in shares of Skyward Specialty Insurance Group in the fourth quarter valued at approximately $27,000. Cassaday & Co Wealth Management LLC acquired a new stake in Skyward Specialty Insurance Group during the 1st quarter worth approximately $37,000. Quarry LP lifted its holdings in Skyward Specialty Insurance Group by 558.9% during the 3rd quarter. Quarry LP now owns 995 shares of the company’s stock worth $47,000 after buying an additional 844 shares in the last quarter. Fifth Third Bancorp purchased a new position in Skyward Specialty Insurance Group in the 1st quarter valued at approximately $60,000. Finally, Kestra Advisory Services LLC purchased a new position in Skyward Specialty Insurance Group in the 4th quarter valued at approximately $65,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Insider Transactions at Skyward Specialty Insurance Group

In other news, Director Gena L. Ashe sold 740 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $46.35, for a total value of $34,299.00. Following the transaction, the director owned 4,570 shares in the company, valued at approximately $211,819.50. This represents a 13.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 sale, the insider directly owned 10,353 shares in the company, valued at $531,315.96. This trade represents a 44.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 8.52% of the company’s stock.

Skyward Specialty Insurance Group Trading Down 3.0%

Shares of SKWD opened at $63.67 on Friday. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 14.84 and a beta of 0.34. The firm’s fifty day simple moving average is $56.04 and its 200-day simple moving average is $49.10. Skyward Specialty Insurance Group, Inc. has a twelve month low of $40.60 and a twelve month high of $65.69.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, August 4th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. Skyward Specialty Insurance Group had a return on equity of 19.61% and a net margin of 10.84%.The firm had revenue of $489.53 million for the quarter, compared to analyst estimates of $706.59 million. On average, analysts predict that Skyward Specialty Insurance Group, Inc. will post 4.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SKWD. Keefe, Bruyette & Woods upped their price objective on Skyward Specialty Insurance Group from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Capital One Financial set a $59.00 target price on Skyward Specialty Insurance Group in a report on Tuesday, June 9th. Texas Capital raised Skyward Specialty Insurance Group to a “strong-buy” rating in a research note on Tuesday, June 9th. Piper Sandler upped their price target on Skyward Specialty Insurance Group from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, Barclays increased their price target on Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.70.

About Skyward Specialty Insurance Group

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.