Skyward Specialty Insurance Group (NASDAQ:SKWD) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) from a hold rating to a buy rating in a report issued on Saturday.

A number of other analysts have also recently issued reports on the company. Capital One Financial set a $59.00 price objective on Skyward Specialty Insurance Group in a research report on Tuesday, June 9th. Barclays upped their target price on Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial raised their price target on Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday. Weiss Ratings upgraded Skyward Specialty Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods boosted their price target on 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. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and a consensus target price of $68.70.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock opened at $63.67 on Friday. Skyward Specialty Insurance Group has a twelve month low of $40.60 and a twelve month high of $65.69. The firm has a market cap of $2.58 billion, a PE ratio of 14.84 and a beta of 0.34. The firm’s 50 day moving average price is $56.04 and its two-hundred day moving average price is $49.10.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Tuesday, August 4th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 19.61%. The company had revenue of $489.53 million during the quarter, compared to analyst estimates of $706.59 million. Equities analysts anticipate that Skyward Specialty Insurance Group will post 4.91 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Thomas N. Schmitt sold 8,397 shares of the company’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 completion of the sale, the insider directly owned 10,353 shares in the company, valued at approximately $531,315.96. This represents a 44.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction of $34,299.00. Following the transaction, the director directly owned 4,570 shares in the company, valued at $211,819.50. The trade was a 13.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 8.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Skyward Specialty Insurance Group in the 2nd quarter worth approximately $214,576,000. Reinhart Partners LLC. grew its holdings in Skyward Specialty Insurance Group by 4.1% during the second quarter. Reinhart Partners LLC. now owns 2,894,407 shares of the company’s stock valued at $168,889,000 after purchasing an additional 113,623 shares during the last quarter. Vanguard Group Inc. grew its holdings in Skyward Specialty Insurance Group by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 2,555,033 shares of the company’s stock valued at $130,588,000 after purchasing an additional 102,191 shares during the last quarter. Invesco Ltd. raised its position in shares of Skyward Specialty Insurance Group by 5.1% in the fourth quarter. Invesco Ltd. now owns 1,451,648 shares of the company’s stock valued at $74,194,000 after purchasing an additional 70,255 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Skyward Specialty Insurance Group by 2.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,183,920 shares of the company’s stock valued at $60,511,000 after purchasing an additional 33,677 shares during the period. 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.