Skyward Specialty Insurance Group, Inc. ( (SKWD) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
Skyward Specialty Insurance Group, Inc.’s stock experienced notable movements following its impressive first-quarter financial results. The company’s Q1 operating EPS exceeded expectations, thanks to a lower-than-expected accident year ex-catastrophe combined ratio and reduced catastrophe losses, despite a slight dip in net investment income. This strong performance, marked by a 17% increase in gross written premiums and record adjusted operating income, led Citizens JMP to raise its price target, highlighting Skyward’s diversified portfolio. Barclays also slightly increased its price target. However, Jefferies downgraded the stock to Hold, and Keefe Bruyette lowered its price target, citing caution due to broader market conditions and concerns about future investment income. Skyward’s strategic focus on expanding less-exposed areas, such as global agriculture and accident & health divisions, was emphasized as a key strength.
More about Skyward Specialty Insurance Group, Inc.
YTD Price Performance: 9.22%
Average Trading Volume: 451,872
Technical Sentiment Signal: Sell
Current Market Cap: $2.16B
For further insights into SKWD stock on TipRanks’ Stock Analysis page.
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