James Charles Hays (LON:HAYS), a director at Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Hays disposed of 33,539 shares of common stock in multiple transactions on November 27, 2024. The shares were sold at a weighted average price of $53.8749, with prices ranging from $53.7407 to $54.08. The total value of the shares sold amounted to approximately $1.81 million. The sale comes as SKWD trades near its 52-week high of $54.86, having delivered an impressive 65% return over the past year. InvestingPro analysis shows the company maintains an excellent financial health score.
Following this transaction, Hays, through Marquis Lafayette, LLC, holds 772,261 shares indirectly. Additionally, Hays retains direct ownership of 27,618 shares of Skyward Specialty Insurance Group stock. With a market capitalization of $2.17 billion and a P/E ratio of 15.15, SKWD presents an interesting case for investors. Discover comprehensive valuation metrics and 12 additional key insights with InvestingPro's detailed research report.
In other recent news, Skyward Specialty Insurance Group has reported strong Q2 earnings and revenue, exceeding expectations. The company also secured a $57 million loan from the Federal Home Loan Bank of Dallas, a strategic financial move reflecting its robust financial planning. Skyward Specialty has also formed a strategic joint venture with Bishop Street Underwriters, a subsidiary of RedBird Capital Partners (WA:CPAP), aiming to enhance specialty property and casualty insurance offerings.
Analysts have been closely following Skyward Specialty's developments. William Blair maintained an Outperform rating on the company, expecting it to continue surpassing earnings forecasts, while Oppenheimer initiated coverage with a Perform rating, indicating a neutral stance on the company's near-term prospects. Barclays (LON:BARC) analysts noted a potential temporary growth pause as the company shifts away from commercial auto and more cycle-driven business lines.
Skyward Specialty also announced a secondary public offering of 4,400,000 shares of common stock by The Westaim Corporation (TSXV:WED). These are the recent developments for Skyward Specialty, providing investors with a snapshot of the company's current activities and financial standing.
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