Skyward Specialty Insurance Group (NASDAQ:SKWD) Sets New 52-Week High on Analyst Upgrade

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)’s stock 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 traded. The stock had previously closed at $60.20.

SKWD has been the subject of a number of other research reports. Texas Capital upgraded shares of Skyward Specialty Insurance Group to a “strong-buy” rating in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods raised shares of Skyward Specialty Insurance Group from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, March 13th. 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 shares of Skyward Specialty Insurance Group in a research report on Tuesday, June 9th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Skyward Specialty Insurance Group in a report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Insider Buying and Selling

In related news, Director Gena L. Ashe sold 740 shares of the stock in a transaction 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 completion of the sale, the director directly owned 4,570 shares of the company’s stock, valued at approximately $211,819.50. This represents a 13.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 firm’s stock in a transaction on Friday, June 12th. The shares were 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 in the company, valued at approximately $531,315.96. This trade represents a 44.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 8.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP boosted its stake in shares of Skyward Specialty Insurance Group by 24.9% in the 4th quarter. Royce & Associates LP now owns 202,659 shares of the company’s stock worth $10,358,000 after buying an additional 40,339 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Skyward Specialty Insurance Group by 26.4% during the fourth quarter. Teacher Retirement System of Texas now owns 147,406 shares of the company’s stock worth $7,534,000 after acquiring an additional 30,763 shares during the period. UBS Group AG lifted its holdings in Skyward Specialty Insurance Group by 44.5% during the fourth quarter. UBS Group AG now owns 234,366 shares of the company’s stock worth $11,978,000 after acquiring an additional 72,196 shares during the period. Vanguard Group Inc. boosted its position in Skyward Specialty Insurance Group by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 2,555,033 shares of the company’s stock worth $130,588,000 after purchasing an additional 102,191 shares during the last quarter. Finally, Chilton Investment Co. Inc. grew its stake in Skyward Specialty Insurance Group by 48.5% in the 3rd quarter. Chilton Investment Co. Inc. now owns 160,502 shares of the company’s stock valued at $7,633,000 after purchasing an additional 52,439 shares during the period. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Price Performance

The firm has a market cap of $2.53 billion, a PE ratio of 15.04 and a beta of 0.34. The business’s fifty day moving average is $49.30 and its 200-day moving average is $47.29.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.12. The company had revenue of $475.87 million during 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. Analysts forecast that Skyward Specialty Insurance Group, Inc. will post 4.93 EPS for the current year.

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.