Skyward Specialty Insurance Group (NASDAQ:SKWD) Issues Quarterly Earnings Results

Skyward Specialty Insurance Group (NASDAQ:SKWD) posted its quarterly earnings results on Tuesday. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.13, FiscalAI reports. Skyward Specialty Insurance Group had a net margin of 11.36% and a return on equity of 18.24%. The business had revenue of $489.53 million during the quarter, compared to the consensus estimate of $706.59 million.

Skyward Specialty Insurance Group Price Performance

NASDAQ:SKWD traded up $0.70 during mid-day trading on Tuesday, reaching $61.57. 423,427 shares of the company’s stock traded hands, compared to its average volume of 503,324. The company has a 50 day moving average price of $54.61 and a 200-day moving average price of $48.63. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 14.84 and a beta of 0.34. Skyward Specialty Insurance Group has a 12-month low of $40.60 and a 12-month high of $63.96.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, Director Anthony J. Kuczinski bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was bought at an average price of $47.10 per share, for a total transaction of $94,200.00. Following the completion of the acquisition, the director directly owned 15,977 shares in the company, valued at $752,516.70. The trade was a 14.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas N. Schmitt sold 8,397 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $51.32, for a total value of $430,934.04. Following the transaction, the insider owned 10,353 shares of the company’s stock, valued at approximately $531,315.96. This represents a 44.78% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 8.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SKWD. Invesco Ltd. lifted its position in shares of Skyward Specialty Insurance Group by 5.1% in the 4th quarter. Invesco Ltd. now owns 1,451,648 shares of the company’s stock worth $74,194,000 after purchasing an additional 70,255 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Skyward Specialty Insurance Group by 2.9% during the fourth 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. Balyasny Asset Management L.P. increased its position in shares of Skyward Specialty Insurance Group by 411.7% during the third quarter. Balyasny Asset Management L.P. now owns 947,170 shares of the company’s stock valued at $45,047,000 after buying an additional 762,079 shares during the period. Ameriprise Financial Inc. raised its stake in Skyward Specialty Insurance Group by 46.7% in the second quarter. Ameriprise Financial Inc. now owns 946,216 shares of the company’s stock worth $54,682,000 after buying an additional 301,288 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Skyward Specialty Insurance Group by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 937,120 shares of the company’s stock worth $47,904,000 after buying an additional 7,100 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on SKWD. Weiss Ratings upgraded Skyward Specialty Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 8th. Piper Sandler increased their target price on Skyward Specialty Insurance Group from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Barclays raised their price target on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Texas Capital upgraded Skyward Specialty Insurance Group to a “strong-buy” rating in a research report on Tuesday, June 9th. Finally, Capital One Financial set a $59.00 price objective on Skyward Specialty Insurance Group in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and an average price target of $67.67.

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.