Andrew S. Robinson, Chairman and CEO of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD), a $1.83 billion market cap insurer with "GREAT" financial health according to InvestingPro, has sold shares worth approximately $376,058, according to a recent filing. The sales, which occurred on January 7 and 8, 2025, were executed under a pre-established trading plan. The transactions involved a range of prices, with shares sold between $45.0654 and $45.4699 each, near the stock's 52-week high of $55.62.
In addition to these sales, Robinson also disposed of shares totaling $134,634, with prices ranging from $45.1329 to $45.527. These sales were related to covering taxes and fees associated with a previously vested restricted stock award. Following these transactions, Robinson retains ownership of 52,355 shares of Skyward Specialty. The company's stock has shown strong momentum with a 25.82% return over the past six months, though InvestingPro analysis suggests the stock is currently trading above its Fair Value. Analysts maintain a bullish outlook with price targets ranging from $46 to $61.
In other recent news, Palomar Holdings (NASDAQ:PLMR) has seen an increase in its share price target from $119 to $133 by analyst Paul Newsome from Piper Sandler. This adjustment is based on the anticipation of a favorable environment for primary insurers in 2025. However, potential risks to the price target include changes in competition and regulatory adjustments, which could affect the company's performance.
Similarly, Skyward Specialty Insurance Group has also received an upward price target revision. Piper Sandler raised its price target from $54 to $58, reflecting an increased earnings multiple based on the firm's forward earnings estimate for 2026. This adjustment is in response to Skyward Specialty's impressive performance over the past year, which includes a 62.8% return and strong revenue growth of 32.05%.
Several firms including Keefe, Bruyette & Woods, BMO Capital Markets, and JMP Securities have also revised their price targets for Skyward Specialty upwards following strong Q2 earnings and revenue. Additionally, Skyward Specialty has secured a $57 million loan from the Federal Home Loan Bank of Dallas and formed a strategic joint venture with Bishop Street Underwriters, a subsidiary of RedBird Capital Partners (WA:CPAP). These are the latest developments for Palomar Holdings and Skyward Specialty Insurance Group.
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