Skyward Specialty Insurance Group (NASDAQ:SKWD) Sets New 1-Year High After Analyst Upgrade

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)’s share price hit a new 52-week high during trading on Thursday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock traded as high as $64.20 and last traded at $63.5020, with a volume of 37034 shares changing hands. The stock had previously closed at $63.04.

Several other analysts have also issued reports on SKWD. Texas Capital raised Skyward Specialty Insurance Group to a “strong-buy” rating in a research note on Tuesday, June 9th. Barclays increased their price target on shares of Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday. Weiss Ratings upgraded shares of Skyward Specialty Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 8th. Truist Financial boosted their price objective on shares of Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Piper Sandler upped their price objective on shares of 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 equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group presently has a consensus rating of “Moderate Buy” and an average target price of $68.70.

Insider Activity

In related news, insider Thomas N. Schmitt sold 8,397 shares of the stock in a transaction dated 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 sale, the insider directly owned 10,353 shares in the company, valued at $531,315.96. This represents a 44.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anthony J. Kuczinski purchased 2,000 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Thursday, May 21st. The shares were bought at an average price of $47.10 per share, for a total transaction of $94,200.00. Following the completion of the transaction, the director owned 15,977 shares in the company, valued at $752,516.70. The trade was a 14.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 8.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of large investors have recently added to or reduced their stakes in SKWD. BlackRock Inc. bought a new position in shares of Skyward Specialty Insurance Group during the second quarter valued at about $214,576,000. Deutsche Bank AG purchased a new stake in shares of Skyward Specialty Insurance Group during the second quarter worth about $2,731,000. IMC Chicago LLC bought a new stake in shares of Skyward Specialty Insurance Group in the second quarter worth about $274,000. Bank of New York Mellon Corp bought a new stake in shares of Skyward Specialty Insurance Group in the second quarter worth about $8,130,000. Finally, Wasatch Advisors LP increased its holdings in Skyward Specialty Insurance Group by 198.5% during the 2nd quarter. Wasatch Advisors LP now owns 954,489 shares of the company’s stock valued at $55,694,000 after purchasing an additional 634,708 shares during the period. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Trading Down 3.0%

The business has a fifty day moving average of $56.04 and a 200-day moving average of $49.10. The company has a market cap of $2.58 billion, a PE ratio of 14.84 and a beta of 0.34.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.13. The business had revenue of $489.53 million during the quarter, compared to analysts’ expectations of $706.59 million. Skyward Specialty Insurance Group had a return on equity of 19.61% and a net margin of 10.84%. As a group, research analysts predict that Skyward Specialty Insurance Group, Inc. will post 4.91 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.