Skyward Specialty Insurance Group (NASDAQ:SKWD) Upgraded at Texas Capital

Skyward Specialty Insurance Group (NASDAQ:SKWD) was upgraded by stock analysts at Texas Capital to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on SKWD. Wall Street Zen raised Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Piper Sandler dropped their target price on Skyward Specialty Insurance Group from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Zacks Research cut Skyward Specialty Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Weiss Ratings cut shares of Skyward Specialty Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. Finally, Barclays upped their price objective on shares of 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. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Skyward Specialty Insurance Group Trading Up 4.7%

NASDAQ SKWD opened at $48.95 on Tuesday. The company has a market cap of $1.98 billion, a PE ratio of 11.80 and a beta of 0.49. Skyward Specialty Insurance Group has a 12 month low of $40.60 and a 12 month high of $60.00. The stock has a 50 day moving average of $45.60 and a 200-day moving average of $46.35.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $665.12 million. During the same quarter last year, the firm posted $0.90 EPS. The company’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, sell-side analysts predict that Skyward Specialty Insurance Group will post 4.93 EPS for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Director Gena L. Ashe sold 740 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $46.35, for a total value of $34,299.00. Following the transaction, the director directly owned 4,570 shares of the company’s stock, valued at approximately $211,819.50. The trade was a 13.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anthony J. Kuczinski purchased 2,000 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was acquired at an average cost of $47.10 per share, for a total transaction of $94,200.00. Following the completion of the purchase, the director owned 15,977 shares of the company’s stock, valued at approximately $752,516.70. This trade represents a 14.31% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 8.52% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of 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 worth $130,588,000 after purchasing an additional 102,191 shares during the period. Teacher Retirement System of Texas raised its position in shares of Skyward Specialty Insurance Group by 26.4% during the fourth quarter. Teacher Retirement System of Texas now owns 147,406 shares of the company’s stock worth $7,534,000 after purchasing an additional 30,763 shares during the period. Royce & Associates LP raised its position in shares of Skyward Specialty Insurance Group by 24.9% during the fourth quarter. Royce & Associates LP now owns 202,659 shares of the company’s stock worth $10,358,000 after purchasing an additional 40,339 shares during the period. UBS Group AG raised its position in shares of Skyward Specialty Insurance Group by 44.5% during the fourth quarter. UBS Group AG now owns 234,366 shares of the company’s stock worth $11,978,000 after purchasing an additional 72,196 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Skyward Specialty Insurance Group by 9.2% during the third quarter. American Century Companies Inc. now owns 654,123 shares of the company’s stock worth $31,110,000 after purchasing an additional 55,361 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

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.