Moody Aldrich Sells All 136K SKWD Shares Valued at $7.8 Million
Moody Aldrich Partners' Exit: Moody Aldrich Partners LLC has fully liquidated its position in Skyward Specialty Insurance Group, selling 135,635 shares for an estimated $7.84 million, reducing its stake from 1.5% to 0% of its assets under management (AUM).
Stock Performance: As of late October 2025, Skyward's shares are priced at $46.64, down 7.7% year-to-date, significantly trailing the S&P 500 by 22.2 percentage points, indicating a challenging year for the stock.
Market Context: The decision to sell appears to be a tactical move by Moody Aldrich, reallocating funds to sectors with better short-term momentum, rather than a reflection of concerns about Skyward's fundamentals.
Insurance Sector Challenges: Despite Skyward's strong niche in high-risk insurance and disciplined underwriting, the broader insurance market is facing pressure from competitive pricing and rising loss costs, impacting profit margins.
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- New Investment Disclosure: On May 13, 2026, Channing Capital Management disclosed a new investment by acquiring 939,667 shares of Independent Bank for an estimated $73.65 million, based on the average closing price in Q1 2026, indicating confidence in the bank's future growth potential.
- Position Value Change: By the end of the quarter, the position was valued at $70.67 million, reflecting price movements post-purchase, suggesting increased market recognition of Independent Bank, which may attract further investor interest.
- Portfolio Impact: This investment accounts for 1.8098% of Channing Capital's 13F assets under management, highlighting the firm's focus on Independent Bank, while its performance among the top five holdings could influence overall investment strategy.
- Company Financial Overview: Independent Bank's stock price reached $76.17, up 20.87% over the past year, although it underperformed the S&P 500 by 5.60 percentage points; however, its 3.4% dividend yield and a $200 million share buyback plan make it appealing to income-seeking investors.
- Revenue Growth: Independent Bank reported Q1 revenue of $247.2 million, reflecting a 38.9% year-on-year increase, although it fell short of the market expectation of $251.8 million, indicating significant growth potential in a competitive market.
- Earnings Beat: The adjusted EPS of $1.68 surpassed analysts' expectations of $1.66, demonstrating the company's positive progress in cost control and profitability enhancement.
- Net Interest Margin Improvement: The bank achieved an 8 basis point increase in core net interest margin, supported by higher loan and securities yields and disciplined deposit pricing, which significantly contributed to profitability improvement.
- Cautious Loan Growth: While core commercial and industrial loans grew at an annualized rate of 7%, management's cautious approach towards commercial real estate and competitive pressures has kept overall loan growth moderate, reflecting uncertainties in the future market.
- Net Income Growth: Independent Bank Corp reported a GAAP net income of $79.9 million for Q1 2026, with diluted EPS at $1.63, demonstrating resilience amid economic uncertainties, despite challenges in loan and deposit growth.
- Capital Return: The company returned $94 million to shareholders, including $63 million spent on repurchasing 802,000 shares, and announced an 8.5% increase in its quarterly dividend to $0.64, indicating a strong commitment to shareholder value.
- Wealth Management Growth: Assets Under Administration (AUA) remained stable at $9.2 billion, with an annual revenue growth rate of 11%, highlighting the wealth management business as a key income driver, despite a complex overall market environment.
- Increase in Nonperforming Assets: Nonperforming assets rose to $98.7 million, or 0.52% of total loans, primarily due to downgrades in the office loan segment, reflecting intensified competition in the commercial real estate market and macroeconomic uncertainties.
- Profitability Improvement: Independent Bank reported a GAAP net income of $79.9 million and diluted EPS of $1.63 for Q1, reflecting ongoing enhancements in profitability despite macroeconomic uncertainties.
- Capital Return Strategy: The bank returned $94 million to shareholders in Q1, including the repurchase of 802,000 shares, demonstrating proactive capital optimization and enhancing investor confidence in the company's financial health.
- Margin Expectations Raised: Management increased the net interest margin forecast for Q4 2026 to a range of 3.90% to 3.95%, indicating disciplined pricing strategies in loans and deposits that are expected to drive future profitability growth.
- Digital Innovation Office Established: The company established a Digital Innovation office in Q1 and plans to transition its core operating platform by October, aiming to enhance operational efficiency through an AI governance framework while maintaining risk controls.
- Earnings Growth: Independent Bank Corp. reported Q1 earnings of $79.92 million, translating to $1.63 per share, which marks a significant increase from last year's $44.42 million and $1.04 per share, indicating strong market performance.
- Adjusted Earnings: Excluding certain items, the adjusted earnings reached $82.11 million, or $1.68 per share, further demonstrating the company's success in cost control and operational efficiency.
- Revenue Surge: The company's revenue rose by 41.9% year-over-year to $252.72 million, up from $178.05 million last year, reflecting robust business expansion and strong market demand.
- Strong Market Position: This growth in earnings and revenue not only boosts investor confidence but also potentially provides funding for future expansions and investments, solidifying the company's position in the financial services sector.











