Skyward Specialty Insurance Group (NASDAQ:SKWD) Issues Earnings Results, Beats Expectations By $0.13 EPS

Key Points

• Skyward Specialty beat earnings expectations: The insurer reported quarterly EPS of $1.30, exceeding the $1.17 consensus by $0.13. Revenue was $489.53 million, below the $706.59 million estimate, while net margin was 11.36% and return on equity was 18.24%.
• Shares rose 1.1% to $61.57 following the results, giving the company a market capitalization of approximately $2.50 billion. The stock remains near its 52-week high of $63.96.
• Analyst sentiment remains positive: The stock has a “Moderate Buy” consensus rating and an average price target of $67.67, with recent target increases from Keefe, Bruyette & Woods and Barclays.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) released its quarterly earnings data on Tuesday. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13, FiscalAI reports. The business had revenue of $489.53 million for the quarter, compared to the consensus estimate of $706.59 million. Skyward Specialty Insurance Group had a net margin of 11.36% and a return on equity of 18.24%.

Skyward Specialty Insurance Group Stock Up 1.1%

NASDAQ:SKWD traded up $0.70 during trading hours on Tuesday, hitting $61.57. 423,427 shares of the company's stock traded hands, compared to its average volume of 503,324. Skyward Specialty Insurance Group has a 52 week low of $40.60 and a 52 week high of $63.96. The business's fifty day simple moving average is $54.61 and its two-hundred day simple moving average is $48.63. The firm has a market cap of $2.50 billion, a P/E ratio of 14.84 and a beta of 0.34.

Wall Street Analyst Weigh In

SKWD has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Skyward Specialty Insurance Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, July 8th. Wall Street Zen cut shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Capital One Financial set a $59.00 target price on Skyward Specialty Insurance Group in a research report on Tuesday, June 9th. Keefe, Bruyette & Woods raised their price target 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, Barclays lifted 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. One equities research 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 has an average rating of "Moderate Buy" and a consensus target price of $67.67.

Insiders Place Their Bets

In other news, Director Gena L. Ashe sold 740 shares of Skyward Specialty Insurance Group stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $46.35, for a total transaction of $34,299.00. Following the completion of the sale, the director owned 4,570 shares in the company, valued at approximately $211,819.50. This trade represents a 13.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anthony J. Kuczinski purchased 2,000 shares of the business's stock in a transaction on Thursday, May 21st. The stock was bought at an average cost of $47.10 per share, with a total value of $94,200.00. Following the purchase, the director owned 15,977 shares in the company, valued at approximately $752,516.70. This represents a 14.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 8.52% of the company's stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Institutional investors have recently modified their holdings of the company. Invesco Ltd. raised its holdings in shares of Skyward Specialty Insurance Group by 5.1% during the 4th quarter. Invesco Ltd. now owns 1,451,648 shares of the company's stock valued at $74,194,000 after buying an additional 70,255 shares in the last quarter. Vident Advisory LLC purchased a new stake in Skyward Specialty Insurance Group in the fourth quarter worth approximately $257,000. VARCOV Co. bought a new position in Skyward Specialty Insurance Group during the fourth quarter valued at approximately $524,000. Susquehanna Fundamental Investments LLC raised its stake in shares of Skyward Specialty Insurance Group by 370.3% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 40,213 shares of the company's stock worth $2,055,000 after acquiring an additional 31,663 shares in the last quarter. Finally, Man Group plc purchased a new position in shares of Skyward Specialty Insurance Group during the fourth quarter worth approximately $1,171,000. 94.83% of the stock is currently owned by institutional investors.

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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