Skyward Specialty Insurance Group (NASDAQ:SKWD) Reaches New 1-Year High Following Analyst Upgrade

Key Points

• Skyward Specialty Insurance Group hit a new 52-week high after Barclays raised its price target to $65 from $60 and reiterated an overweight rating. The stock traded as high as $63.03 and was up about 3.7%.
• Analyst sentiment is generally positive, with multiple firms recently adjusting ratings and targets upward. MarketBeat data shows a Moderate Buy consensus and an average price target of $67.
• The company also reported solid recent earnings, with $1.25 EPS beating expectations, though revenue came in below estimates. Institutional ownership remains very high at 94.83%, even as some insiders sold shares recently.

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report)'s share price hit a new 52-week high on Wednesday after Barclays raised their price target on the stock from $60.00 to $65.00. Barclays currently has an overweight rating on the stock. Skyward Specialty Insurance Group traded as high as $63.03 and last traded at $62.41, with a volume of 609549 shares. The stock had previously closed at $60.20.

SKWD has been the topic of a number of other research reports. Keefe, Bruyette & Woods upgraded Skyward Specialty Insurance Group from a "moderate buy" rating to a "strong-buy" rating in a research report on Friday, March 13th. Wall Street Zen cut Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Capital One Financial set a $59.00 price objective on Skyward Specialty Insurance Group in a research report on Tuesday, June 9th. Piper Sandler lifted their price objective on Skyward Specialty Insurance Group from $55.00 to $68.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Skyward Specialty Insurance Group in a report on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.

Insider Transactions at Skyward Specialty Insurance Group

In related news, insider Thomas N. Schmitt sold 8,397 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $51.32, for a total transaction of $430,934.04. Following the completion of the sale, the insider owned 10,353 shares of the company's stock, valued at $531,315.96. This trade represents a 44.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gena L. Ashe sold 740 shares of the firm's 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 sale, the director directly owned 4,570 shares of the company's stock, valued at $211,819.50. This represents a 13.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 8.52% of the company's stock.

Institutional Trading of Skyward Specialty Insurance Group

Large investors have recently modified their holdings of the stock. Reinhart Partners LLC. increased its stake in shares of Skyward Specialty Insurance Group by 49.8% in the 4th quarter. Reinhart Partners LLC. now owns 2,416,753 shares of the company's stock valued at $123,521,000 after acquiring an additional 803,217 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in Skyward Specialty Insurance Group by 411.7% during 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. Freestone Grove Partners LP bought a new position in Skyward Specialty Insurance Group during the third quarter worth $24,234,000. Sei Investments Co. grew 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 worth $18,926,000 after purchasing an additional 346,202 shares during the period. Finally, Langdon Equity Partners bought a new stake in Skyward Specialty Insurance Group in the fourth quarter valued at $16,965,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Skyward Specialty Insurance Group Stock Up 3.7%

The firm's 50 day simple moving average is $49.30 and its two-hundred day simple moving average is $47.29. The stock has a market capitalization of $2.53 billion, a P/E ratio of 15.04 and a beta of 0.34.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.13 by $0.12. Skyward Specialty Insurance Group had a return on equity of 18.24% and a net margin of 11.36%.The company had revenue of $475.87 million during the quarter, compared to the consensus estimate of $665.12 million. During the same period last year, the business posted $0.90 EPS. The firm's revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 4.93 earnings per share for the current year.

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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