Skyward Specialty Insurance Group (NASDAQ:SKWD) Insider Thomas Schmitt Sells 8,397 Shares of Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) insider Thomas Schmitt sold 8,397 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Skyward Specialty Insurance Group Stock Down 1.6%

Shares of SKWD opened at $49.25 on Tuesday. The stock has a 50 day moving average price of $45.98 and a 200 day moving average price of $46.38. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 11.87 and a beta of 0.50. Skyward Specialty Insurance Group, Inc. has a 52-week low of $40.60 and a 52-week high of $60.00.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.12. The firm had revenue of $475.87 million during the quarter, compared to the consensus estimate of $665.12 million. Skyward Specialty Insurance Group had a return on equity of 18.24% and a net margin of 11.36%.The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 earnings per share. On average, equities analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 4.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised Skyward Specialty Insurance Group from a “moderate buy” rating to a “strong-buy” rating in a 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 report on Friday, May 8th. Piper Sandler decreased their price objective on Skyward Specialty Insurance Group from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Capital One Financial set a $59.00 price objective on Skyward Specialty Insurance Group in a report on Tuesday, June 9th. Finally, Wall Street Zen downgraded Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its position in Skyward Specialty Insurance Group by 9.7% in the first quarter. Bank of America Corp DE now owns 148,087 shares of the company’s stock worth $6,468,000 after acquiring an additional 13,081 shares in the last quarter. Centaurus Financial Inc. purchased a new position in Skyward Specialty Insurance Group in the first quarter worth $986,000. EverSource Wealth Advisors LLC raised its position in Skyward Specialty Insurance Group by 632.9% in the first quarter. EverSource Wealth Advisors LLC now owns 2,074 shares of the company’s stock worth $91,000 after acquiring an additional 1,791 shares in the last quarter. California State Teachers Retirement System raised its position in Skyward Specialty Insurance Group by 30.5% in the first quarter. California State Teachers Retirement System now owns 45,303 shares of the company’s stock worth $1,979,000 after acquiring an additional 10,590 shares in the last quarter. Finally, Royal Bank of Canada raised its position in Skyward Specialty Insurance Group by 24.6% in the first quarter. Royal Bank of Canada now owns 504,858 shares of the company’s stock worth $22,052,000 after acquiring an additional 99,786 shares in the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

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.