Skyward Specialty Insurance Group (NASDAQ:SKWD) Sets New 52-Week High – Still a Buy?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) shares reached a new 52-week high during trading on Friday . The stock traded as high as $58.33 and last traded at $59.2220, with a volume of 730018 shares trading hands. The stock had previously closed at $55.40.

Analyst Ratings Changes

SKWD has been the subject of a number of research analyst reports. Capital One Financial set a $59.00 price objective on shares of Skyward Specialty Insurance Group in a research note on Tuesday, June 9th. Barclays boosted their target price on shares of Skyward Specialty Insurance Group from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Texas Capital raised shares of Skyward Specialty Insurance Group to a “strong-buy” rating in a research note on Tuesday, June 9th. Piper Sandler decreased their price target on shares of Skyward Specialty Insurance Group from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Skyward Specialty Insurance Group in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $65.00.

Skyward Specialty Insurance Group Price Performance

The company has a 50-day moving average price of $47.06 and a two-hundred day moving average price of $46.62. The company has a market cap of $2.40 billion, a PE ratio of 14.26 and a beta of 0.49.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Wednesday, May 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.13 by $0.12. The business had revenue of $475.87 million for the quarter, compared to the consensus estimate of $665.12 million. Skyward Specialty Insurance Group had a return on equity of 18.24% and a net margin of 11.36%.The company’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. On average, equities research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 4.93 earnings per share for the current year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director Anthony J. Kuczinski acquired 2,000 shares of the company’s stock in a transaction dated 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 purchase, the director directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas N. Schmitt sold 8,397 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $51.32, for a total transaction of $430,934.04. Following the transaction, the insider directly owned 10,353 shares in the company, valued at approximately $531,315.96. The trade was a 44.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.52% of the stock is owned by corporate insiders.

Institutional Trading of Skyward Specialty Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Financial Management Professionals Inc. purchased a new position in Skyward Specialty Insurance Group in the fourth quarter valued at about $27,000. GAMMA Investing LLC boosted its stake in shares of Skyward Specialty Insurance Group by 75.8% during the 4th quarter. GAMMA Investing LLC now owns 575 shares of the company’s stock valued at $29,000 after buying an additional 248 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Skyward Specialty Insurance Group by 1,210.5% during the 3rd quarter. Assetmark Inc. now owns 747 shares of the company’s stock valued at $36,000 after buying an additional 690 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Skyward Specialty Insurance Group during the first quarter worth approximately $37,000. Finally, Quarry LP increased its stake in shares of Skyward Specialty Insurance Group by 558.9% in the third 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. 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.