Skyward Specialty Insurance Group (NASDAQ:SKWD) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Skyward Specialty Insurance Group (NASDAQ:SKWD) posted its earnings results on Tuesday. The company reported $1.30 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $489.53 million during the quarter, compared to analysts’ expectations of $706.59 million.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD opened at $61.57 on Wednesday. Skyward Specialty Insurance Group has a one year low of $40.60 and a one year high of $63.96. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 14.84 and a beta of 0.34. The stock has a 50 day moving average price of $54.89 and a 200 day moving average price of $48.75.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Skyward Specialty Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 8th. Wall Street Zen lowered Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Keefe, Bruyette & Woods boosted their price objective on Skyward Specialty Insurance Group from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Texas Capital raised Skyward Specialty Insurance Group to a “strong-buy” rating in a research note on Tuesday, June 9th. Finally, Capital One Financial set a $59.00 target price on Skyward Specialty Insurance Group in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Insider Activity

In related news, Director Anthony J. Kuczinski bought 2,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were acquired at an average cost of $47.10 per share, for a total transaction of $94,200.00. Following the acquisition, the director directly owned 15,977 shares in the company, valued at approximately $752,516.70. This trade represents a 14.31% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gena L. Ashe sold 740 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $46.35, for a total value of $34,299.00. Following the completion of the sale, the director owned 4,570 shares of the company’s stock, valued at $211,819.50. This trade represents a 13.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 8.52% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 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 worth $74,194,000 after acquiring an additional 70,255 shares during the period. Vident Advisory LLC purchased a new position in Skyward Specialty Insurance Group during the fourth quarter worth about $257,000. VARCOV Co. acquired a new position in Skyward Specialty Insurance Group in the 4th quarter valued at about $524,000. Susquehanna Fundamental Investments LLC grew its stake in shares of Skyward Specialty Insurance Group by 370.3% in the 4th quarter. Susquehanna Fundamental Investments LLC now owns 40,213 shares of the company’s stock valued at $2,055,000 after buying an additional 31,663 shares during the period. Finally, Man Group plc acquired a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter worth approximately $1,171,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.