Bessemer Group Inc. Sells 18,370 Shares of Skyward Specialty Insurance Group, Inc. $SKWD

Bessemer Group Inc. cut its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 69.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,075 shares of the company’s stock after selling 18,370 shares during the period. Bessemer Group Inc.’s holdings in Skyward Specialty Insurance Group were worth $353,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SKWD. Allspring Global Investments Holdings LLC raised its stake in shares of Skyward Specialty Insurance Group by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 169,162 shares of the company’s stock valued at $7,286,000 after acquiring an additional 2,148 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Skyward Specialty Insurance Group by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 122,506 shares of the company’s stock worth $5,351,000 after purchasing an additional 1,473 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 14.2% during the first quarter. Sanctuary Advisors LLC now owns 6,239 shares of the company’s stock worth $273,000 after purchasing an additional 776 shares during the period. Emerald Mutual Fund Advisers Trust grew its stake in shares of Skyward Specialty Insurance Group by 1.1% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 401,899 shares of the company’s stock worth $17,555,000 after purchasing an additional 4,498 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Skyward Specialty Insurance Group by 35.1% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,413 shares of the company’s stock worth $411,000 after purchasing an additional 2,444 shares during the last quarter. 94.83% of the stock is owned by institutional investors.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD opened at $60.46 on Friday. The firm’s fifty day moving average is $52.96 and its 200-day moving average is $48.03. Skyward Specialty Insurance Group, Inc. has a 52 week low of $40.60 and a 52 week high of $63.03. The firm has a market cap of $2.45 billion, a P/E ratio of 14.57 and a beta of 0.34.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.12. Skyward Specialty Insurance Group had a net margin of 11.36% and a return on equity of 18.24%. The company had revenue of $475.87 million during the quarter, compared to analysts’ expectations of $665.12 million. During the same period in the prior year, the company posted $0.90 earnings per share. Skyward Specialty Insurance Group’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 4.88 earnings per share for the current year.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, Director Gena L. Ashe sold 740 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $46.35, for a total value of $34,299.00. Following the completion of the sale, the director directly owned 4,570 shares in the company, valued at approximately $211,819.50. The trade was a 13.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 business’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 transaction, the insider directly owned 10,353 shares in the company, valued at approximately $531,315.96. This trade represents a 44.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 8.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Piper Sandler increased their price objective on Skyward Specialty Insurance Group from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Texas Capital raised Skyward Specialty Insurance Group to a “strong-buy” rating in a report on Tuesday, June 9th. Barclays upped their price target on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Wall Street Zen cut Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Capital One Financial set a $59.00 price objective on Skyward Specialty Insurance Group in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and a consensus target price of $67.67.

Skyward Specialty Insurance Group Company 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.