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Thomas N. Schmitt, Chief People & Administration Officer at Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD), recently sold a total of 1,183 shares of the company's common stock. The transactions, which took place on January 3 and January 6, 2025, were executed at prices ranging from $46.853 to $47.808 per share, resulting in a total sale value of $56,035.
These sales were conducted under a Rule 10b5-1 trading plan, which Schmitt adopted on August 8, 2024. Following these transactions, Schmitt retains direct ownership of 10,246 shares of Skyward Specialty Insurance. The sales were primarily to cover taxes and fees related to the vesting of a previously granted Restricted Stock Award. With a P/E ratio of 16.42 and earnings per share of $3.39, InvestingPro analysis reveals additional valuable insights about SKWD's valuation and growth prospects in their comprehensive Pro Research Report, available to subscribers.
In other recent news, Palomar Holdings (NASDAQ:PLMR) has had its price target raised to $133 from $119 by Piper Sandler, maintaining an Overweight rating. The adjustment reflects the anticipated favorable environment for primary insurers in 2025, based on recent reinsurance renewal data. Analyst Paul Newsome highlighted Palomar's significant reliance on reinsurance, a common trait in the industry. The new price target is based on a projected earnings per share of $6.80 for 2026, suggesting confidence in the company's growth potential. However, potential risks were noted due to the company's focus on niche businesses which may be affected by changes in competition and regulatory adjustments.
Similarly, Skyward Specialty Insurance Group has seen a boost in its shares target from $54 to $58, with Piper Sandler maintaining an Overweight rating. The revised target is based on an increased earnings multiple from 15.0x to 16.0x, reflecting the company's forward earnings estimate for 2026. The decision to adjust the price target upward was driven by Skyward Specialty's positive performance in the recent year, showing strong revenue growth. The company also reported strong Q2 earnings and revenue, exceeding expectations, leading to an upward revision of price targets by several firms. Additionally, Skyward Specialty has formed a strategic joint venture with Bishop Street Underwriters to enhance specialty property and casualty insurance offerings.
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