Skyward Specialty Insurance Group (NASDAQ:SKWD – Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13, FiscalAI reports. The business had revenue of $489.53 million for the quarter, compared to the consensus estimate of $706.59 million. Skyward Specialty Insurance Group had a return on equity of 19.61% and a net margin of 10.84%.
Skyward Specialty Insurance Group Stock Up 2.4%
Shares of SKWD stock opened at $63.04 on Thursday. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 14.69 and a beta of 0.34. Skyward Specialty Insurance Group has a 12-month low of $40.60 and a 12-month high of $63.96. The firm has a fifty day moving average of $55.24 and a 200-day moving average of $48.87.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on SKWD. Wall Street Zen lowered Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Keefe, Bruyette & Woods lifted their price objective on shares of Skyward Specialty Insurance Group from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Piper Sandler increased their target price on shares of Skyward Specialty Insurance Group from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Capital One Financial set a $59.00 price target on Skyward Specialty Insurance Group in a research note on Tuesday, June 9th. Finally, Weiss Ratings upgraded Skyward Specialty Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.
Insider Activity at Skyward Specialty Insurance Group
In other news, Director Gena L. Ashe sold 740 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $46.35, for a total transaction of $34,299.00. Following the completion of the transaction, the director owned 4,570 shares of the company’s stock, valued at approximately $211,819.50. This trade represents a 13.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 sale, the insider directly owned 10,353 shares of the company’s stock, valued at approximately $531,315.96. This represents a 44.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 8.52% of the stock is owned by insiders.
Hedge Funds Weigh In On Skyward Specialty Insurance Group
Hedge funds have recently made changes to their positions in the business. Quarry LP grew its position 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 purchasing an additional 844 shares during the period. Kestra Advisory Services LLC bought a new position in Skyward Specialty Insurance Group in the 4th quarter worth $65,000. Osaic Holdings Inc. increased its stake in Skyward Specialty Insurance Group by 140.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,462 shares of the company’s stock worth $84,000 after buying an additional 855 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $108,000. Finally, Quantbot Technologies LP bought a new stake in Skyward Specialty Insurance Group during the 2nd quarter valued at approximately $134,000. 94.83% of the stock is owned by hedge funds and other institutional investors.
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.
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