Skyward Specialty Insurance Group (NASDAQ:SKWD) Downgraded to Hold Rating by Wall Street Zen

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

Other research analysts have also issued reports about the stock. Susquehanna set a $80.00 price target on shares of Skyward Specialty Insurance Group in a research note on Friday, January 16th. Piper Sandler dropped 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 research note on Thursday, February 26th. Zacks Research lowered shares of Skyward Specialty Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Barclays dropped their price target on shares of Skyward Specialty Insurance Group from $63.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Finally, Citigroup reiterated a “market outperform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, January 16th. One 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. According to MarketBeat, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and an average price target of $65.89.

Skyward Specialty Insurance Group Stock Up 1.2%

Shares of Skyward Specialty Insurance Group stock opened at $46.83 on Friday. Skyward Specialty Insurance Group has a 52-week low of $40.60 and a 52-week high of $65.05. The company’s 50-day simple moving average is $45.21 and its 200-day simple moving average is $46.70. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 11.51 and a beta of 0.61.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly 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 net margin of 12.00% and a return on equity of 17.98%. The business had revenue of $385.59 million for the quarter, compared to analyst estimates of $380.86 million. During the same period in the previous year, the business posted $0.80 earnings per share. Equities research analysts anticipate that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, Director Anthony J. Kuczinski purchased 1,000 shares of Skyward Specialty Insurance Group stock in a transaction on Tuesday, March 3rd. The shares were bought at an average price of $48.13 per share, with a total value of $48,130.00. Following the completion of the acquisition, the director directly owned 11,903 shares of the company’s stock, valued at approximately $572,891.39. This trade represents a 9.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew S. Robinson purchased 22,100 shares of Skyward Specialty Insurance Group stock in a transaction on Friday, February 27th. The stock was acquired at an average cost of $46.76 per share, for a total transaction of $1,033,396.00. Following the acquisition, the chief executive officer directly owned 167,674 shares of the company’s stock, valued at approximately $7,840,436.24. This represents a 15.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 30,500 shares of company stock valued at $1,433,546. Corporate insiders own 8.52% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

Institutional investors and hedge funds have recently modified their holdings of the business. Financial Management Professionals Inc. purchased a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $27,000. GAMMA Investing LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 75.8% in the fourth quarter. GAMMA Investing LLC now owns 575 shares of the company’s stock valued at $29,000 after purchasing an additional 248 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Skyward Specialty Insurance Group by 1,210.5% in the third quarter. Assetmark Inc. now owns 747 shares of the company’s stock valued at $36,000 after purchasing an additional 690 shares in the last quarter. Quarry LP lifted its holdings 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 valued at $47,000 after purchasing an additional 844 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $65,000. 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.