Alamar Capital Management LLC Decreases Stock Holdings in Skyward Specialty Insurance Group, Inc. $SKWD

Alamar Capital Management LLC lowered its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 3.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,480 shares of the company’s stock after selling 2,175 shares during the quarter. Skyward Specialty Insurance Group makes up approximately 2.0% of Alamar Capital Management LLC’s holdings, making the stock its 22nd biggest position. Alamar Capital Management LLC owned about 0.16% of Skyward Specialty Insurance Group worth $3,465,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the 1st quarter valued at about $631,000. Janney Montgomery Scott LLC purchased a new stake in Skyward Specialty Insurance Group in the 1st quarter worth approximately $544,000. GAMMA Investing LLC increased its holdings in Skyward Specialty Insurance Group by 6,374.4% in the 1st quarter. GAMMA Investing LLC now owns 17,675 shares of the company’s stock worth $935,000 after acquiring an additional 17,402 shares in the last quarter. Penserra Capital Management LLC purchased a new position in shares of Skyward Specialty Insurance Group in the first quarter valued at about $1,280,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Skyward Specialty Insurance Group by 36.7% in the first quarter. Envestnet Asset Management Inc. now owns 103,016 shares of the company’s stock valued at $5,452,000 after acquiring an additional 27,669 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, CFO Mark W. Haushill sold 52,748 shares of Skyward Specialty Insurance Group stock in a transaction on Friday, June 13th. The stock was sold at an average price of $58.76, for a total transaction of $3,099,472.48. Following the completion of the sale, the chief financial officer directly owned 133,629 shares in the company, valued at approximately $7,852,040.04. This trade represents a 28.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.86% of the company’s stock.

Analysts Set New Price Targets

SKWD has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 29th. Truist Financial increased their price objective on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a “buy” rating in a report on Monday, May 5th. Wall Street Zen downgraded Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Piper Sandler lowered their target price on Skyward Specialty Insurance Group from $69.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.88.

Skyward Specialty Insurance Group Stock Down 0.3%

Shares of SKWD opened at $48.30 on Monday. The company has a market cap of $1.96 billion, a PE ratio of 15.19 and a beta of 0.62. The business has a fifty day moving average of $51.97 and a 200 day moving average of $53.99. Skyward Specialty Insurance Group, Inc. has a 52-week low of $37.79 and a 52-week high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Wednesday, July 30th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.03. Skyward Specialty Insurance Group had a return on equity of 16.40% and a net margin of 10.53%.The business had revenue of $319.90 million during the quarter, compared to the consensus estimate of $324.64 million. During the same period last year, the company earned $0.80 earnings per share. As a group, research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

About Skyward Specialty Insurance Group

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.