Skyward Specialty Insurance Group (NASDAQ:SKWD) Sets New 12-Month High – Here’s Why
by Michael Walen · The Markets DailyShares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD – Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $64.20 and last traded at $63.5020, with a volume of 37034 shares traded. The stock had previously closed at $63.04.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on SKWD. Barclays lifted their target price on Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday. Texas Capital raised Skyward Specialty Insurance Group to a “strong-buy” rating in a report on Tuesday, June 9th. Capital One Financial set a $59.00 price target on shares of Skyward Specialty Insurance Group in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods raised their price objective on Skyward Specialty Insurance Group from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Finally, Piper Sandler raised their target price on shares of Skyward Specialty Insurance Group from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and an average price target of $68.00.
View Our Latest Stock Analysis on SKWD
Skyward Specialty Insurance Group Price Performance
The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 14.73 and a beta of 0.34. The firm’s 50 day moving average price is $55.24 and its two-hundred day moving average price is $48.87.
Skyward Specialty Insurance Group (NASDAQ:SKWD – Get Free Report) last released 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 firm had revenue of $489.53 million for the quarter, compared to analyst estimates of $706.59 million. Skyward Specialty Insurance Group had a return on equity of 19.61% and a net margin of 10.84%. On average, analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 4.88 earnings per share for the current year.
Insider Transactions at Skyward Specialty Insurance Group
In other news, Director Anthony J. Kuczinski acquired 2,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were purchased at an average cost of $47.10 per share, for a total transaction of $94,200.00. Following the transaction, the director directly owned 15,977 shares in the company, valued at approximately $752,516.70. This represents a 14.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas N. Schmitt sold 8,397 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $51.32, for a total transaction of $430,934.04. Following the completion of the transaction, the insider directly owned 10,353 shares in the company, 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. Company insiders own 8.52% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Reinhart Partners LLC. boosted its stake in shares of Skyward Specialty Insurance Group by 49.8% in the fourth quarter. Reinhart Partners LLC. now owns 2,416,753 shares of the company’s stock valued at $123,521,000 after buying an additional 803,217 shares in the last quarter. Balyasny Asset Management L.P. raised its position in Skyward Specialty Insurance Group by 411.7% in the third quarter. Balyasny Asset Management L.P. now owns 947,170 shares of the company’s stock worth $45,047,000 after acquiring an additional 762,079 shares in the last quarter. Wasatch Advisors LP lifted its holdings in Skyward Specialty Insurance Group by 198.5% in the second quarter. Wasatch Advisors LP now owns 954,489 shares of the company’s stock valued at $55,694,000 after acquiring an additional 634,708 shares during the period. Freestone Grove Partners LP acquired a new stake in Skyward Specialty Insurance Group in the third quarter valued at $24,234,000. Finally, Sei Investments Co. lifted its holdings in Skyward Specialty Insurance Group by 397.5% in the first quarter. Sei Investments Co. now owns 433,298 shares of the company’s stock valued at $18,926,000 after acquiring an additional 346,202 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.
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.
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