Peregrine Capital Management LLC Cuts Stock Position in Skyward Specialty Insurance Group, Inc. $SKWD

Peregrine Capital Management LLC decreased its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 17.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 268,392 shares of the company’s stock after selling 55,586 shares during the quarter. Peregrine Capital Management LLC’s holdings in Skyward Specialty Insurance Group were worth $12,765,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of Skyward Specialty Insurance Group by 46.3% in the 2nd quarter. Invesco Ltd. now owns 1,790,131 shares of the company’s stock worth $103,452,000 after acquiring an additional 566,902 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Skyward Specialty Insurance Group by 3,712.0% during the first quarter. Voya Investment Management LLC now owns 433,652 shares of the company’s stock valued at $22,949,000 after buying an additional 422,276 shares during the last quarter. Aberdeen Group plc purchased a new position in shares of Skyward Specialty Insurance Group in the second quarter worth about $19,319,000. Ameriprise Financial Inc. increased its holdings in shares of Skyward Specialty Insurance Group by 46.7% in the second quarter. Ameriprise Financial Inc. now owns 946,216 shares of the company’s stock worth $54,682,000 after buying an additional 301,288 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Skyward Specialty Insurance Group by 16.8% in the 2nd quarter. Franklin Resources Inc. now owns 1,379,648 shares of the company’s stock valued at $79,730,000 after acquiring an additional 198,931 shares during the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock opened at $47.22 on Friday. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $41.28 and a fifty-two week high of $65.05. The stock’s 50 day simple moving average is $48.65 and its two-hundred day simple moving average is $49.44. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 13.93 and a beta of 0.54.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.20. The company had revenue of $382.53 million for the quarter, compared to analyst estimates of $334.54 million. Skyward Specialty Insurance Group had a return on equity of 17.30% and a net margin of 10.57%.During the same period in the previous year, the company posted $0.71 earnings per share. On average, analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Janney Montgomery Scott initiated coverage on Skyward Specialty Insurance Group in a research note on Monday, October 6th. They issued a “buy” rating and a $60.00 price target on the stock. Wall Street Zen raised shares of Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, October 31st. Piper Sandler boosted their price objective on shares of Skyward Specialty Insurance Group from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Skyward Specialty Insurance Group from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.45.

Insider Buying and Selling at Skyward Specialty Insurance Group

In related news, insider Sandip A. Kapadia sold 5,030 shares of the stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $50.01, for a total value of $251,550.30. Following the completion of the transaction, the insider directly owned 8,059 shares in the company, valued at $403,030.59. This trade represents a 38.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.01% of the stock is owned by corporate insiders.

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.