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HOUSTON—Sean W. Duffy, Executive Vice President and Chief Claims Officer at Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD), a $1.86 billion market cap insurance company, recently sold shares of the company's common stock, according to a recent filing with the Securities and Exchange Commission. According to InvestingPro data, the stock has seen significant volatility, declining 11% in the past week despite gaining 26% over the last six months. The transaction, dated January 2, 2025, involved the sale of 1,475 shares at a weighted average price of $49.02, totaling approximately $72,304.
This stock sale was conducted under a Rule 10b5-1 trading plan, which Duffy had adopted on August 8, 2024. The shares were sold at prices ranging from $48.98 to $49.03. Following this transaction, Duffy retains ownership of 8,455 shares of Skyward Specialty common stock.
The sale was part of a plan to cover taxes and fees related to a Restricted Stock Award that fully vested on January 1, 2025. The company maintains strong financial health, with InvestingPro analysis indicating liquid assets exceeding short-term obligations and a healthy current ratio of 1.59.
In other recent news, Palomar Holdings (NASDAQ:PLMR) and Skyward Specialty Insurance Group have been the focus of financial analysts due to their strong performance and promising prospects. Piper Sandler has raised the price target for Palomar Holdings to $133 from $119, maintaining an Overweight rating. This adjustment is based on a favorable outlook for primary insurers in 2025, driven by recent reinsurance renewal data. Similarly, Skyward Specialty has seen its price target increased to $58 from $54 by Piper Sandler, reflecting an increased earnings multiple based on the firm's forward earnings estimate for 2026.
Recent developments for Palomar Holdings include a revised price target based on an estimated 19 times the projected earnings per share of $6.80 for the year 2026. However, potential risks to this price target include the company’s focus on niche lines of business, which may be affected by changes in competition and regulatory adjustments.
Skyward Specialty, on the other hand, has reported strong Q2 earnings and revenue, exceeding expectations and leading to an upward revision of price targets by several firms, including Keefe, Bruyette & Woods, BMO Capital Markets, and JMP Securities. The company has also formed a strategic joint venture with Bishop Street Underwriters to enhance specialty property and casualty insurance offerings. Analysts from William Blair, Oppenheimer, and BMO Capital have maintained positive or neutral ratings on Skyward Specialty, indicating confidence in the company's growth potential.
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