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

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $61.24 and last traded at $60.81, with a volume of 107755 shares trading hands. The stock had previously closed at $59.51.

Wall Street Analyst Weigh In

SKWD has been the subject of a number of research analyst reports. Capital One Financial set a $59.00 price target on Skyward Specialty Insurance Group in a report on Tuesday, June 9th. Texas Capital upgraded shares of Skyward Specialty Insurance Group to a “strong-buy” rating in a report on Tuesday, June 9th. Wall Street Zen cut shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Keefe, Bruyette & Woods raised shares of Skyward Specialty Insurance Group from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, March 13th. Finally, Barclays increased their target price on shares of Skyward Specialty Insurance Group from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $65.00.

Skyward Specialty Insurance Group Price Performance

The business has a 50 day simple moving average of $48.08 and a 200 day simple moving average of $46.95. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 14.80 and a beta of 0.34.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.25 EPS for the quarter, topping 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 analyst estimates of $665.12 million. During the same period last year, the business posted $0.90 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities research analysts predict that Skyward Specialty Insurance Group, Inc. will post 4.93 EPS for the current year.

Insider Activity at Skyward Specialty Insurance Group

In related news, Director Gena L. Ashe sold 740 shares of the firm’s 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 completion of the transaction, the director directly owned 4,570 shares in the company, valued at $211,819.50. This trade represents a 13.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Thomas N. Schmitt sold 8,397 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $51.32, for a total value of $430,934.04. Following the completion of the transaction, the insider directly owned 10,353 shares of the company’s stock, valued at approximately $531,315.96. This represents a 44.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 8.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 2,555,033 shares of the company’s stock valued at $130,588,000 after purchasing an additional 102,191 shares in the last quarter. Reinhart Partners LLC. lifted its holdings in Skyward Specialty Insurance Group by 49.8% during the 4th quarter. Reinhart Partners LLC. now owns 2,416,753 shares of the company’s stock worth $123,521,000 after buying an additional 803,217 shares in the last quarter. Invesco Ltd. boosted its position in Skyward Specialty Insurance Group by 5.1% in 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 during the period. Price T Rowe Associates Inc. MD boosted its position in Skyward Specialty Insurance Group by 2.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,183,920 shares of the company’s stock valued at $60,511,000 after buying an additional 33,677 shares during the period. Finally, Balyasny Asset Management L.P. grew its stake in shares of Skyward Specialty Insurance Group by 411.7% in the third quarter. Balyasny Asset Management L.P. now owns 947,170 shares of the company’s stock worth $45,047,000 after acquiring an additional 762,079 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

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.