Last Updated: 09 Nov 2024
Executive Summary
Skyward Specialty Insurance Group, Inc. (SKWD) is a leading provider of commercial property and casualty insurance coverages in the United States. The company has a strong financial profile, with solid revenue growth, profitability, and return on equity. SKWD is currently trading at $48.51, near its 52-week high of $48.53. Analysts are bullish on the stock, with a consensus target price of $51.44.
Company Overview
Skyward Specialty Insurance Group, Inc. is an insurance holding company that underwrites commercial property and casualty insurance coverages in the United States. The company's products include property insurance, general liability insurance, professional liability insurance, and workers' compensation insurance. Skyward Specialty Insurance Group, Inc. is headquartered in Houston, Texas.
Fundamental Analysis
Skyward Specialty Insurance Group, Inc. has a strong financial profile. The company's revenue has grown steadily in recent years, from $855.3 million in 2019 to $1,092.1 million in 2023. The company's net income has also grown steadily, from $103.2 million in 2019 to $133.4 million in 2023. Skyward Specialty Insurance Group, Inc. has a strong return on equity of 20.1%. The company's combined ratio, which measures the profitability of its underwriting operations, was 93.8% in 2023, which is below the industry average of 95%.
Technical Analysis
Skyward Specialty Insurance Group, Inc. is currently trading at $48.51, near its 52-week high of $48.53. The stock has been in an uptrend since early 2023. The stock's 50-day moving average is $42.68 and its 200-day moving average is $37.7. The stock's relative strength index (RSI) is 65.3, which indicates that the stock is overbought.
Short Term Outlook
The short-term outlook for Skyward Specialty Insurance Group, Inc. is positive. The stock is in an uptrend and is trading near its 52-week high. The company's financial profile is strong and analysts are bullish on the stock. However, the stock's RSI is overbought, which indicates that the stock could be due for a pullback.
Long Term Outlook
The long-term outlook for Skyward Specialty Insurance Group, Inc. is also positive. The company's strong financial profile and its focus on the growing commercial property and casualty insurance market position it well for continued growth. The company's products are in demand and the company has a strong track record of underwriting profitability.
Analyst Recommendations
Analysts are bullish on Skyward Specialty Insurance Group, Inc. The consensus target price for the stock is $51.44, which represents a potential upside of 6.0% from the current price. Four analysts have a "buy" rating on the stock, three analysts have a "hold" rating, and no analysts have a "sell" rating.
