Skyward Specialty’s president sells $264,714 in stock

HOUSTON—Hill Kirby (NYSE:KEX), President of Industry Solutions at Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD), a $1.93 billion market cap insurer with a GREAT financial health score according to InvestingPro, recently executed a series of stock transactions, according to a Form 4 filing with the Securities and Exchange Commission. On March 6, Kirby sold a total of 5,269 shares of Skyward Specialty, generating approximately $264,714. The shares were sold at a weighted average price of $50.2399, amid a challenging week that saw the stock decline 11.29%. The company currently appears overvalued based on InvestingPro’s Fair Value analysis.

In addition to the sales, Kirby also acquired shares through the exercise of performance stock units (PSUs) and restricted stock units (RSUs). A total of 12,981 shares were acquired at no cost, reflecting the vesting and settlement of previously awarded PSUs and RSUs.

Following these transactions, Kirby’s direct holdings in Skyward Specialty increased to 16,498 shares. The sales were conducted to cover taxes and fees associated with the vesting of the stock units.

In other recent news, Skyward Specialty Insurance Group reported fourth-quarter 2024 earnings that exceeded analysts’ expectations, achieving an earnings per share (EPS) of $0.8 compared to the forecasted $0.65. The company’s revenue also surpassed projections, reaching $304.4 million against a forecast of $265.04 million. Following these results, Keefe, Bruyette & Woods (KBW) raised the price target for Skyward Specialty to $62.00, citing the company’s solid performance and maintaining an Outperform rating. Additionally, Jefferies increased its price target for the company to $62.00 from $61.00, retaining a Buy rating, emphasizing positive quarterly performance and reaffirmed guidance for 2025.

Conversely, Wolfe Research downgraded Skyward Specialty from Outperform to Peer Perform, noting concerns about the company’s trading multiples and risk-return profile. Wolfe Research removed its price target and set a year-end 2025 fair value range of $50 to $59, reflecting their revised analysis. Despite the downgrade, the firm’s financial projections included an approximate 18% return on tangible common equity by 2026. Skyward Specialty’s management anticipates completing underwriting actions in California by the end of the first quarter of 2025, which is expected to stabilize operations.

The company’s strategy includes exploring potential mergers and maintaining high standards for such opportunities. Skyward Specialty’s recent developments highlight its robust financial performance, strategic expansions, and ongoing evaluations by various analyst firms.

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