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

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

Wall Street Analysts Forecast Growth

SKWD has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on Skyward Specialty Insurance Group from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Barclays upped their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Wall Street Zen downgraded shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Capital One Financial set a $59.00 target price on shares of Skyward Specialty Insurance Group in a research note on Tuesday, June 9th. Finally, Texas Capital upgraded Skyward Specialty Insurance Group to a “strong-buy” rating in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Skyward Specialty Insurance Group presently has an average rating of “Moderate Buy” and a consensus target price of $67.67.

Skyward Specialty Insurance Group Stock Performance

The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 15.07 and a beta of 0.34. The company’s 50 day simple moving average is $53.84 and its two-hundred day simple moving average is $48.33.

Skyward Specialty Insurance Group (NASDAQ:SKWD) 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 net margin of 11.36% and a return on equity of 18.24%. The business had revenue of $475.87 million for the quarter, compared to analysts’ expectations of $665.12 million. During the same period in the previous year, the company posted $0.90 EPS. Skyward Specialty Insurance Group’s revenue was up 9.9% on a year-over-year basis. On average, equities research analysts predict that Skyward Specialty Insurance Group, Inc. will post 4.88 earnings per share for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In other news, Director Anthony J. Kuczinski purchased 2,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was bought at an average cost of $47.10 per share, with a total value of $94,200.00. Following the purchase, the director directly owned 15,977 shares of the company’s stock, valued at approximately $752,516.70. This trade represents a 14.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas N. Schmitt sold 8,397 shares of the firm’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 sale, 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 disclosure for this sale is available in the SEC filing. Insiders own 8.52% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of hedge funds have recently added to or reduced their stakes in SKWD. Financial Management Professionals Inc. acquired a new stake in Skyward Specialty Insurance Group in the fourth quarter valued at approximately $27,000. GAMMA Investing LLC raised its holdings in shares of 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 position in shares of Skyward Specialty Insurance Group during the 1st quarter valued at $37,000. Quarry LP lifted its stake in shares of Skyward Specialty Insurance Group by 558.9% in the 3rd quarter. Quarry LP now owns 995 shares of the company’s stock valued at $47,000 after purchasing an additional 844 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Skyward Specialty Insurance Group in the fourth quarter worth $65,000. Institutional investors and hedge funds 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.