Renaissance Technologies LLC Trims Stock Position in Skyward Specialty Insurance Group, Inc. $SKWD

Renaissance Technologies LLC lessened its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 56.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,300 shares of the company’s stock after selling 89,600 shares during the period. Renaissance Technologies LLC’s holdings in Skyward Specialty Insurance Group were worth $3,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Royce & Associates LP boosted its holdings in shares of Skyward Specialty Insurance Group by 24.9% in the fourth quarter. Royce & Associates LP now owns 202,659 shares of the company’s stock valued at $10,358,000 after acquiring an additional 40,339 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of Skyward Specialty Insurance Group by 26.4% in the 4th quarter. Teacher Retirement System of Texas now owns 147,406 shares of the company’s stock valued at $7,534,000 after acquiring an additional 30,763 shares during the period. UBS Group AG increased its holdings in shares of Skyward Specialty Insurance Group by 44.5% in the 4th quarter. UBS Group AG now owns 234,366 shares of the company’s stock valued at $11,978,000 after acquiring an additional 72,196 shares during the period. Vanguard Group Inc. raised its position in Skyward Specialty Insurance Group by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 2,555,033 shares of the company’s stock valued at $130,588,000 after purchasing an additional 102,191 shares during the last quarter. Finally, Sei Investments Co. raised its position in Skyward Specialty Insurance Group by 397.5% in the 1st quarter. Sei Investments Co. now owns 433,298 shares of the company’s stock valued at $18,926,000 after purchasing an additional 346,202 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SKWD. Truist Financial raised their price objective on shares of Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings raised shares of Skyward Specialty Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 8th. Keefe, Bruyette & Woods increased 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. Texas Capital raised Skyward Specialty Insurance Group to a “strong-buy” rating in a report on Tuesday, June 9th. Finally, Capital One Financial set a $59.00 price target on Skyward Specialty Insurance Group in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and an average price target of $68.70.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director Gena L. Ashe sold 740 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 4,570 shares of the company’s stock, valued at approximately $211,819.50. This represents a 13.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 that occurred on Friday, June 12th. The shares were 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 of the company’s stock, valued at $531,315.96. This represents a 44.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.52% of the stock is owned by corporate insiders.

Skyward Specialty Insurance Group Stock Performance

SKWD stock opened at $63.67 on Friday. Skyward Specialty Insurance Group, Inc. has a one year low of $40.60 and a one year high of $65.69. The stock has a market capitalization of $2.58 billion, a PE ratio of 14.84 and a beta of 0.34. The company has a fifty day moving average of $56.04 and a 200-day moving average of $49.10.

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

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.