HOUSTON—Hill Kirby (NYSE: ), President of Industry Solutions at Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD), recently sold part of its stake in the company. On Jan. 2, Kirby sold 1,560 shares of Skyward Specialty common stock at a weighted average price of $49.004 per share, according to a filing with the Securities and Exchange Commission. The total value of the transaction was 76,446 dollars. The sell-off comes as the stock, currently trading at $45.09, has seen a significant 10.8% decline over the past week, according to InvestingPro data.
This sale was made pursuant to a Rule 10b5-1 trading plan adopted by Kirby on August 8, 2024. The transaction was part of a series of sales made to cover taxes and fees associated with the vesting event of the Restricted Stock Award granted to Kirby, which fully vested on January 1 2025 Despite the recent decline, InvestingPro analysis shows that the company maintains an “EXCELLENT” financial health rating, with liquid assets exceeding current liabilities. Explore comprehensive insider trading patterns and 8 additional expert tips InvestingPro Research report.
Following this transaction, Kirby holds 8,786 shares of Skyward Specialty common stock, representing a stake in the $1.86 billion market cap company that has returned a strong 26% over the past six months.
In other recent news, Palomar Holdings (NASDAQ: ) and Skyward Specialty Insurance Group saw their stock price targets revised by Piper Sandler. For Palomar, the target was increased from $119 to $133, maintaining the Overweight rating, reflecting the expectation of a favorable environment for primary insurers in 2025. The revised price target is based on an estimated 19 times projected earnings per share (EPS) of $6.80 for 2026 , according to analyst Paul Newsome. However, Newsome noted potential risks due to Palomar’s focus on niche lines of business that could be affected by competitive changes and regulatory adjustments.
On the other hand, Skyward Specialty’s price target was raised to $58 from $54, also maintaining the Overweight rating. The revised target reflects an increase in earnings multiple based on the company’s estimate of future earnings of $3.60 per share in 2026. The decision to adjust the price target upwards comes in response to Skyward Specialty’s positive performance over the past year, with reported strong revenue growth. Analysts at William Blair, Oppenheimer and BMO Capital also gave their ratings to Skyward Specialty, citing the company’s strong outlook and potential to continue beating earnings forecasts.
These developments provide investors with a snapshot of the recent performance and strategic initiatives of Palomar Holdings and Skyward Specialty Insurance Group.
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