Key Points
- Insider sale: Skyward Specialty Insurance Group insider Thomas Schmitt sold 8,397 shares at an average price of $51.32, worth about $430,934. After the transaction, he still held 10,353 shares.
- Stock and financial performance: SKWD shares were down 1.6% to $49.25, and the company reported Q1 earnings of $1.25 per share, topping estimates. Revenue rose 9.9% year over year, though it came in below analyst expectations.
- Analyst sentiment: Wall Street currently rates the stock a Moderate Buy with a consensus target price of $65.00, despite a recent mix of upgrades, target changes, and one downgrade to hold.
Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) insider Thomas Schmitt sold 8,397 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $51.32, for a total value of $430,934.04. Following the completion of the transaction, the insider owned 10,353 shares of the company's stock, valued at $531,315.96. The trade was a 44.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Skyward Specialty Insurance Group Stock Down 1.6%
Shares of SKWD stock opened at $49.25 on Tuesday. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $40.60 and a fifty-two week high of $60.00. The stock has a market cap of $2.00 billion, a P/E ratio of 11.87 and a beta of 0.50. The business has a fifty day simple moving average of $45.98 and a 200-day simple moving average of $46.38.
Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.12. Skyward Specialty Insurance Group had a return on equity of 18.24% and a net margin of 11.36%.The business had revenue of $475.87 million during the quarter, compared to analysts' expectations of $665.12 million. During the same quarter last year, the business posted $0.90 earnings per share. The business's revenue for the quarter was up 9.9% on a year-over-year basis. On average, sell-side analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 4.93 earnings per share for the current year.
Institutional Trading of Skyward Specialty Insurance Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. purchased a new stake in Skyward Specialty Insurance Group during the 4th quarter worth about $27,000. GAMMA Investing LLC increased its position in Skyward Specialty Insurance Group by 75.8% during the 4th quarter. GAMMA Investing LLC now owns 575 shares of the company's stock worth $29,000 after purchasing an additional 248 shares in the last quarter. Assetmark Inc. increased its position in Skyward Specialty Insurance Group by 1,210.5% during the 3rd quarter. Assetmark Inc. now owns 747 shares of the company's stock worth $36,000 after purchasing an additional 690 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Skyward Specialty Insurance Group in the 1st quarter worth about $37,000. Finally, Quarry LP boosted its stake 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 buying an additional 844 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on SKWD. Capital One Financial set a $59.00 price target on Skyward Specialty Insurance Group in a research report on Tuesday, June 9th. Wall Street Zen cut Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday. Texas Capital upgraded Skyward Specialty Insurance Group to a "strong-buy" rating in a research report on Tuesday, June 9th. Barclays lifted their price objective on Skyward Specialty Insurance Group from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Finally, Piper Sandler dropped their price objective on Skyward Specialty Insurance Group from $65.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, February 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $65.00.
Read Our Latest Research Report on Skyward Specialty Insurance Group
Skyward Specialty Insurance Group Company Profile
(
Get Free Report)
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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