Skyward Specialty Insurance Group (NASDAQ:SKWD) Cut to Hold at Zacks Research

Zacks Research cut shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) from a strong-buy rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

SKWD has been the topic of a number of other research reports. Citigroup restated a “market outperform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, January 16th. Wall Street Zen upgraded shares of Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Raymond James Financial set a $66.00 price objective on Skyward Specialty Insurance Group in a research report on Friday, December 5th. Citizens Jmp raised their price target on shares of Skyward Specialty Insurance Group from $75.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Thursday, December 4th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Skyward Specialty Insurance Group in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Skyward Specialty Insurance Group presently has a consensus rating of “Moderate Buy” and an average target price of $67.82.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock opened at $46.61 on Monday. The stock has a 50-day simple moving average of $47.51 and a 200 day simple moving average of $47.78. The stock has a market capitalization of $1.89 billion, a P/E ratio of 13.75 and a beta of 0.55. Skyward Specialty Insurance Group has a 52 week low of $42.45 and a 52 week high of $65.05.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, insider Sandip A. Kapadia sold 5,030 shares of the company’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $50.01, for a total value of $251,550.30. Following the completion of the transaction, the insider owned 8,059 shares of the company’s stock, valued at $403,030.59. This represents a 38.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several hedge funds have recently added to or reduced their stakes in SKWD. Reinhart Partners LLC. grew its position in shares of Skyward Specialty Insurance Group by 49.8% in the 4th quarter. Reinhart Partners LLC. now owns 2,416,753 shares of the company’s stock valued at $123,521,000 after buying an additional 803,217 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in 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 valued at $45,047,000 after acquiring an additional 762,079 shares during the last quarter. Invesco Ltd. increased its position in Skyward Specialty Insurance Group by 46.3% during the 2nd quarter. Invesco Ltd. now owns 1,790,131 shares of the company’s stock valued at $103,452,000 after purchasing an additional 566,902 shares during the period. Freestone Grove Partners LP bought a new position in Skyward Specialty Insurance Group during the 3rd quarter worth approximately $24,234,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Skyward Specialty Insurance Group by 46.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 946,216 shares of the company’s stock worth $54,682,000 after purchasing an additional 301,288 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.