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

Skyward Specialty Insurance Group (NASDAQ:SKWD) was upgraded by equities researchers at Texas Capital to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts have also recently issued reports on the company. Weiss Ratings cut Skyward Specialty Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Piper Sandler dropped their price objective on 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. Capital One Financial set a $59.00 price objective on Skyward Specialty Insurance Group in a report on Tuesday. Barclays increased their price objective on Skyward Specialty Insurance Group from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Wall Street Zen raised Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ:SKWD opened at $48.95 on Tuesday. The company has a market capitalization of $1.98 billion, a PE ratio of 11.80 and a beta of 0.49. The business has a fifty day moving average price of $45.60 and a two-hundred day moving average price of $46.35. Skyward Specialty Insurance Group has a 1 year low of $40.60 and a 1 year high of $60.00.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.12. The firm had revenue of $475.87 million during 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 business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. Sell-side analysts anticipate that Skyward Specialty Insurance Group will post 4.93 earnings per share for the current year.

Insider Activity

In other news, Director Gena L. Ashe sold 740 shares of the stock in a transaction dated 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 approximately $211,819.50. This represents a 13.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anthony J. Kuczinski acquired 2,000 shares of Skyward Specialty Insurance Group stock in a transaction dated Thursday, May 21st. The shares were purchased at an average price of $47.10 per share, for a total transaction of $94,200.00. Following the completion of the transaction, the director directly owned 15,977 shares in the company, valued at approximately $752,516.70. The trade was a 14.31% increase in their position. The SEC filing for this purchase provides additional information. 8.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Institutional investors have recently modified their holdings of the company. Financial Management Professionals Inc. bought a new position in shares of Skyward Specialty Insurance Group during the 4th quarter valued at about $27,000. GAMMA Investing LLC increased its position 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 purchasing an additional 248 shares during the last quarter. Assetmark Inc. increased its position 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 purchasing an additional 690 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in Skyward Specialty Insurance Group during the 1st quarter worth approximately $37,000. Finally, Quarry LP grew its position in Skyward Specialty Insurance Group by 558.9% during the 3rd quarter. Quarry LP now owns 995 shares of the company’s stock worth $47,000 after acquiring an additional 844 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

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.