Skyward Specialty Insurance Group (NASDAQ:SKWD) Sets New 12-Month High - Time to Buy?

Key Points

• Skyward Specialty shares reached a new 52-week high of $63.83 and were recently trading at about $63.62, up 2.5%. The company has a $2.55 billion market capitalization and its shares are trading above both the 50-day and 200-day moving averages.
• Analyst sentiment is favorable, with a consensus rating of “Moderate Buy” and an average price target of $67.67. Recent firms raised targets to as high as $72, while Barclays, Keefe, Bruyette & Woods, and Piper Sandler maintained bullish ratings.
• Skyward reported quarterly EPS of $1.25, beating estimates of $1.13, while revenue increased 9.9% year over year but fell short of analyst expectations. Insiders have recently sold shares, although institutional investors own a substantial 94.83% of the company.

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $63.83 and last traded at $63.6150, with a volume of 94299 shares traded. The stock had previously closed at $61.45.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SKWD shares. Weiss Ratings upgraded shares of Skyward Specialty Insurance Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, July 8th. Barclays raised their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods upped their target price 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. Capital One Financial set a $59.00 target price on Skyward Specialty Insurance Group in a research report on Tuesday, June 9th. Finally, Piper Sandler raised their target price on Skyward Specialty Insurance Group from $68.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $67.67.

Skyward Specialty Insurance Group Trading Up 2.5%

The company's 50 day moving average is $53.23 and its 200-day moving average is $48.11. The company has a market capitalization of $2.55 billion, a P/E ratio of 15.11 and a beta of 0.34.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.13 by $0.12. The business had revenue of $475.87 million for the quarter, compared to analyst estimates of $665.12 million. Skyward Specialty Insurance Group had a net margin of 11.36% and a return on equity of 18.24%. Skyward Specialty Insurance Group's quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Analysts predict that Skyward Specialty Insurance Group, Inc. will post 4.88 EPS for the current fiscal year.

Insider Activity

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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gena L. Ashe sold 740 shares of Skyward Specialty Insurance Group stock in a transaction on Monday, May 11th. The shares were sold at an average price of $46.35, for a total value of $34,299.00. Following the transaction, the director owned 4,570 shares of the company's stock, valued at $211,819.50. The trade was a 13.94% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 8.52% of the company's stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of institutional investors have recently modified their holdings of the stock. Financial Management Professionals Inc. purchased a new position in shares of Skyward Specialty Insurance Group in the 4th quarter worth about $27,000. GAMMA Investing LLC increased its stake in Skyward Specialty Insurance Group by 75.8% during the 4th quarter. GAMMA Investing LLC now owns 575 shares of the company's stock valued at $29,000 after purchasing an additional 248 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in Skyward Specialty Insurance Group during the 1st quarter valued at about $37,000. Quarry LP raised its holdings in Skyward Specialty Insurance Group by 558.9% in the third quarter. Quarry LP now owns 995 shares of the company's stock worth $47,000 after buying an additional 844 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new position in Skyward Specialty Insurance Group in the first quarter worth about $60,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

About Skyward Specialty Insurance Group

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.