HOUSTON—James Charles Hays (LON:HAYS), a director at Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD), recently sold 27,950 shares of the company's common stock. The shares were sold at an average price of $54.8367, resulting in a total transaction value of approximately $1.53 million. The transaction comes as SKWD shows impressive momentum, with the stock up over 58% year-to-date and trading near its 52-week high of $55.62.
Following this sale, Hays holds 669,311 shares indirectly through Marquis Lafayette, LLC, and 27,618 shares directly. The sale was part of multiple transactions at prices ranging from $54.75 to $55.57 per share. For deeper insights into insider transactions and comprehensive analysis, InvestingPro subscribers can access detailed financial health metrics and expert research reports.
Skyward Specialty Insurance Group is headquartered in Houston, Texas, and operates in the fire, marine, and casualty insurance sectors. The $2.15 billion market cap company maintains strong financials with a P/E ratio of 16.4 and impressive revenue growth of 32% over the last twelve months. According to InvestingPro analysis, the company currently appears to be trading above its Fair Value.
In other recent news, Skyward Specialty Insurance Group has been making significant strides in its financial performance and strategic planning. The company secured a $57 million loan from the Federal Home Loan Bank of Dallas, reflecting a strategic move in its financial planning. Skyward Specialty also reported strong Q2 earnings and revenue, exceeding expectations. This led to an upward revision of price targets by several firms including Piper Sandler, Keefe, Bruyette & Woods, BMO Capital Markets, and JMP Securities.
Furthermore, Skyward Specialty formed a strategic joint venture with Bishop Street Underwriters, a subsidiary of RedBird Capital Partners (WA:CPAP), to enhance specialty property and casualty insurance offerings. On the analyst front, William Blair maintained an Outperform rating on Skyward Specialty, citing the company's strong outlook and potential to continue surpassing earnings forecasts. Meanwhile, Oppenheimer initiated coverage with a Perform rating, indicating a neutral stance on the company's near-term prospects. BMO Capital also maintained its Market Perform rating on Skyward Specialty. These are the latest developments for Skyward Specialty, providing investors with a snapshot of the company's recent performance and strategic initiatives.
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