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Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD), a $1.86 billion specialty insurance provider with a GREAT financial health score according to InvestingPro, recently reported that its Chief Information Officer, Dan PK Bodnar, sold a significant number of company shares. According to the SEC filing, Bodnar sold a total of 3,484 shares on January 2, 2025. The transactions were executed at prices ranging from $49.05 to $49.92 per share, amounting to a total value of approximately $173,238. The stock has since declined about 11% over the past week to $45.09, trading at a P/E ratio of 16.4.
The sales were conducted under a Rule 10b5-1 trading plan, which allows company insiders to sell a predetermined number of shares at a predetermined time, providing a safe harbor against insider trading accusations. Following these transactions, Bodnar holds 12,462 shares of Skyward Specialty Insurance Group. For comprehensive insider trading analysis and 8 additional key insights about SKWD, visit InvestingPro.
In other recent news, Palomar Holdings (NASDAQ:PLMR) has received an increased price target of $133 from Piper Sandler, reflecting a favorable forecast for primary insurers in 2025. This adjustment, according to analyst Paul Newsome, is due to recent reinsurance renewal data. Skyward Specialty Insurance Group also experienced a price target increase from Piper Sandler, with its target rising to $58 from $54, in response to the company's positive performance over the past year.
These recent developments reveal Piper Sandler's continued confidence in both Palomar Holdings and Skyward Specialty Insurance Group. The new price targets are based on projected earnings per share for 2026, with Palomar's estimate at $6.80 and Skyward's at $3.60. Both companies have been rated Overweight by Piper Sandler, indicating an expected performance above the average return of the stocks the firm covers.
However, potential risks to Palomar Holdings' price target have been noted, including the company's focus on niche lines of business which could be affected by changes in competition and regulatory adjustments. Meanwhile, Skyward Specialty Insurance Group has been making strides in its financial performance and strategic planning, recently securing a $57 million loan from the Federal Home Loan Bank of Dallas. The company also reported strong Q2 earnings and revenue, exceeding expectations, leading to an upward revision of price targets by several firms, including Keefe, Bruyette & Woods, BMO Capital Markets, and JMP Securities.
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