Skyward Specialty Insurance Group (NASDAQ:SKWD) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other research firms also recently issued reports on SKWD. Piper Sandler decreased their target price 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. Barclays decreased their target price on Skyward Specialty Insurance Group from $63.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Keefe, Bruyette & Woods raised Skyward Specialty Insurance Group from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, March 13th. Citigroup reiterated a “market outperform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, January 16th. Finally, Zacks Research cut Skyward Specialty Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $65.89.

Skyward Specialty Insurance Group Price Performance

NASDAQ:SKWD opened at $46.51 on Friday. The business has a fifty day simple moving average of $45.28 and a two-hundred day simple moving average of $46.72. Skyward Specialty Insurance Group has a 1 year low of $40.60 and a 1 year high of $65.05. The company has a market capitalization of $2.07 billion, a P/E ratio of 11.43 and a beta of 0.61.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Monday, February 23rd. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.21. Skyward Specialty Insurance Group had a return on equity of 17.98% and a net margin of 12.00%.The business had revenue of $385.59 million during the quarter, compared to the consensus estimate of $380.86 million. During the same period last year, the business posted $0.80 earnings per share. As a group, analysts anticipate that Skyward Specialty Insurance Group will post 4.69 earnings per share for the current year.

Insider Activity at Skyward Specialty Insurance Group

In other news, Director Christopher Locke Peirce acquired 3,200 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were bought at an average cost of $47.30 per share, with a total value of $151,360.00. Following the acquisition, the director owned 3,200 shares in the company, valued at approximately $151,360. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew S. Robinson acquired 22,100 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were purchased at an average cost of $46.76 per share, for a total transaction of $1,033,396.00. Following the completion of the acquisition, the chief executive officer owned 167,674 shares in the company, valued at $7,840,436.24. This represents a 15.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 30,500 shares of company stock valued at $1,433,546. Corporate insiders own 8.52% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of large investors have recently modified their holdings of the company. Campbell Newman Asset Management Inc. raised its holdings in shares of Skyward Specialty Insurance Group by 3.2% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 27,164 shares of the company’s stock valued at $1,187,000 after buying an additional 846 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Skyward Specialty Insurance Group by 4.3% during the 1st quarter. Diversified Trust Co now owns 21,429 shares of the company’s stock valued at $936,000 after buying an additional 875 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Skyward Specialty Insurance Group by 5.1% during the 4th quarter. Invesco Ltd. now owns 1,451,648 shares of the company’s stock valued at $74,194,000 after buying an additional 70,255 shares in the last quarter. Vident Advisory LLC purchased a new position in shares of Skyward Specialty Insurance Group during the 4th quarter valued at about $257,000. Finally, VARCOV Co. purchased a new position in shares of Skyward Specialty Insurance Group during the 4th quarter valued at about $524,000. 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.