Skyward Specialty Insurance Group (NASDAQ:SKWD) Reaches New 52-Week High - Still a Buy?

Key Points

• Skyward Specialty Insurance Group hit a new 52-week high, trading as high as $61.24 and last changing hands near $60.81, up about 3% on the day.
• Analyst sentiment remains positive overall, with a Moderate Buy consensus and an average price target of $65; several firms recently upgraded or maintained bullish ratings.
• The company posted better-than-expected EPS of $1.25 in its latest quarterly report, though revenue came in below estimates even as it rose 9.9% year over year.

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $61.24 and last traded at $60.81, with a volume of 107755 shares. The stock had previously closed at $59.51.

Analyst Ratings Changes

A number of brokerages have commented on SKWD. Texas Capital raised Skyward Specialty Insurance Group to a "strong-buy" rating in a report on Tuesday, June 9th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Skyward Specialty Insurance Group in a research note on Tuesday, June 16th. 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. Barclays increased their price objective on Skyward Specialty Insurance Group from $57.00 to $60.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Finally, Capital One Financial set a $59.00 target price on shares of Skyward Specialty Insurance Group in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Skyward Specialty Insurance Group currently has an average rating of "Moderate Buy" and a consensus price target of $65.00.

Skyward Specialty Insurance Group Trading Up 3.0%

The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 14.80 and a beta of 0.34. The company has a fifty day moving average price of $48.08 and a two-hundred day moving average price of $46.95.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly 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 firm had revenue of $475.87 million during the quarter, compared to analysts' expectations of $665.12 million. During the same quarter last year, the firm earned $0.90 earnings per share. The business's revenue for the quarter was up 9.9% on a year-over-year basis. As a group, equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 4.93 earnings per share for the current year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director Gena L. Ashe sold 740 shares of Skyward Specialty Insurance Group stock in a transaction on Monday, May 11th. The stock was sold at an average price of $46.35, for a total transaction of $34,299.00. Following the transaction, the director owned 4,570 shares in the company, valued at $211,819.50. The trade was a 13.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 stock in a transaction dated 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 owned 15,977 shares in the company, valued at approximately $752,516.70. The trade was a 14.31% increase in their position. The disclosure for this purchase is available in the SEC filing. 8.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Institutional investors have recently bought and sold shares of the company. Reinhart Partners LLC. grew 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 buying an additional 803,217 shares during the period. Balyasny Asset Management L.P. raised its position in shares of Skyward Specialty Insurance Group by 411.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 947,170 shares of the company's stock valued at $45,047,000 after buying an additional 762,079 shares during the period. Freestone Grove Partners LP purchased a new stake in shares of Skyward Specialty Insurance Group during the 3rd quarter valued at approximately $24,234,000. 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 last quarter. Finally, Langdon Equity Partners acquired a new position in Skyward Specialty Insurance Group in the fourth quarter valued at approximately $16,965,000. 94.83% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.