HOUSTON—John A. Burkhart III, President of Specialty Lines at Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD), has reported the sale of company stock valued at approximately $71,843. The transaction, which occurred on January 2, 2025, involved the sale of 1,465 shares of common stock at an average price of $49.04 per share. The stock, which has recently seen a 10.78% decline over the past week, maintains a market capitalization of $1.86 billion. According to InvestingPro analysis, the company currently trades at a P/E ratio of 16.42.
These sales were executed under a pre-arranged Rule 10b5-1 trading plan, which Burkhart adopted on August 8, 2024. The transaction was part of a strategy to cover taxes and fees related to the vesting of a Restricted Stock Award granted to him on January 1, 2022. Following the sale, Burkhart retains direct ownership of 14,042 shares of Skyward Specialty’s common stock.
Skyward Specialty Insurance Group, headquartered in Houston, Texas, specializes in providing a range of insurance solutions, including fire, marine, and casualty insurance. The company maintains a “GREAT” financial health score according to InvestingPro analysis, with strong profitability indicators and liquid assets exceeding short-term obligations. Discover comprehensive insights and detailed financial analysis in the Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Palomar Holdings (NASDAQ:) saw an increase in its price target to $133 from $119 by Piper Sandler, maintaining an Overweight rating. This adjustment reflects an anticipation of a favorable environment for primary insurers in 2025, based on recent reinsurance renewal data. The revised price target is based on an estimated 19 times the projected earnings per share of $6.80 for the year 2026, showing confidence in Palomar’s growth potential and earnings capabilities. However, potential risks to the price target were also noted, including changes in competition and regulatory adjustments.
In parallel, Piper Sandler raised the price target for Skyward Specialty Insurance Group to $58 from $54, also maintaining an Overweight rating. This revised target is based on an increased earnings multiple from 15.0x to 16.0x based on the firm’s forward earnings estimate of $3.60 per share for 2026. The adjustment comes in response to Skyward Specialty’s positive performance in the recent year, with strong revenue growth.
Finally, Skyward Specialty 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 and reported strong Q2 earnings and revenue, exceeding expectations. Additionally, it formed a strategic joint venture with Bishop Street Underwriters, a subsidiary of RedBird Capital Partners (WA:), to enhance specialty property and casualty insurance offerings. These are the recent developments for both Palomar Holdings and Skyward Specialty Insurance Group.
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