Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Skyward Specialty Insurance Group from “hold” to “buy.” The broader analyst consensus is “Moderate Buy,” with an average price target of $68.70.
• SKWD opened at $63.67, near its 52-week high of $65.69. The company’s latest quarterly EPS of $1.30 exceeded estimates of $1.17, although revenue of $489.53 million was below the $706.59 million consensus forecast.
• Insiders recently sold shares, including transactions by Director Gena L. Ashe and insider Thomas N. Schmitt, while institutional investors own a substantial 94.83% of the company’s stock.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

A number of other research firms also recently issued reports on SKWD. Capital One Financial set a $59.00 price objective on shares of Skyward Specialty Insurance Group in a report on Tuesday, June 9th. Piper Sandler lifted their price target on shares of Skyward Specialty Insurance Group from $68.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Weiss Ratings upgraded Skyward Specialty Insurance Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, July 8th. Barclays increased their price objective on Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Truist Financial raised their target price on Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $68.70.

Skyward Specialty Insurance Group Stock Down 3.0%

NASDAQ SKWD opened at $63.67 on Friday. Skyward Specialty Insurance Group has a 52 week low of $40.60 and a 52 week high of $65.69. The business has a 50 day moving average price of $56.04 and a 200-day moving average price of $49.10. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 14.84 and a beta of 0.34.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. The business had revenue of $489.53 million during the quarter, compared to the consensus estimate of $706.59 million. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 19.61%. On average, equities research analysts anticipate that Skyward Specialty Insurance Group will post 4.91 earnings per share for the current year.

Insider Transactions at Skyward Specialty Insurance Group

In related news, Director Gena L. Ashe sold 740 shares of the business's 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 transaction, the director directly owned 4,570 shares in the company, valued at $211,819.50. The trade was a 13.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Thomas N. Schmitt sold 8,397 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $51.32, for a total value of $430,934.04. Following the transaction, the insider owned 10,353 shares of the company's stock, valued at approximately $531,315.96. The trade was a 44.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 business. Financial Management Professionals Inc. bought a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth approximately $27,000. Cassaday & Co Wealth Management LLC bought a new stake in Skyward Specialty Insurance Group during the first quarter valued at approximately $37,000. Quarry LP grew its stake in Skyward Specialty Insurance Group by 558.9% in the 3rd quarter. Quarry LP now owns 995 shares of the company's stock worth $47,000 after buying an additional 844 shares in the last quarter. Fifth Third Bancorp purchased a new position in Skyward Specialty Insurance Group in the 1st quarter worth approximately $60,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Skyward Specialty Insurance Group in the 4th quarter worth $65,000. Institutional investors own 94.83% of the company's stock.

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.

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