HOUSTON—Hill Kirby (NYSE:KEX), President of Industry Solutions at Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Kirby sold 1,560 shares of Skyward Specialty common stock on January 2, at a weighted average price of $49.004 per share. The total value of the transaction amounted to $76,446. The sale occurred as the stock, currently trading at $45.09, has experienced a notable 10.8% decline over the past week, according to InvestingPro data.
This sale was executed under a Rule 10b5-1 trading plan that Kirby adopted on August 8, 2024. The transaction was part of a series of sales conducted to cover taxes and fees associated with a vesting event of a Restricted Stock Award granted to Kirby, which fully vested on January 1, 2025. Despite the recent decline, InvestingPro analysis shows the company maintains a "GREAT" financial health score, with liquid assets exceeding short-term obligations. For comprehensive insider trading patterns and 8 additional ProTips, explore the full InvestingPro Research Report.
Following this transaction, Kirby holds 8,786 shares of Skyward Specialty common stock, representing a stake in this $1.86 billion market cap company that has delivered a strong 26% return over the past six months.
In other recent news, Palomar Holdings (NASDAQ:PLMR) and Skyward Specialty Insurance Group have seen their share price targets revised by Piper Sandler. For Palomar, the target was increased from $119 to $133, maintaining an Overweight rating, reflecting the anticipation of a favorable environment for primary insurers in 2025. The revised price target is based on an estimated 19 times the projected earnings per share (EPS) of $6.80 for the year 2026, according to analyst Paul Newsome. However, Newsome noted potential risks due to Palomar's focus on niche lines of business which may be influenced by changes in competition and regulatory adjustments.
On the other hand, Skyward Specialty's price target was raised to $58 from $54, also maintaining an Overweight rating. The revised target reflects an increased earnings multiple based on the firm's forward earnings estimate of $3.60 per share for 2026. The decision to adjust the price target upward comes as a response to Skyward Specialty's positive performance in the recent year, with strong revenue growth reported. Analysts from William Blair, Oppenheimer, and BMO Capital also provided their ratings on Skyward Specialty, citing the company's strong outlook and potential to continue surpassing earnings forecasts.
These developments provide investors with a snapshot of the recent performance and strategic initiatives of both Palomar Holdings and Skyward Specialty Insurance Group.
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