William Blair analyst Adam Klauber has maintained their bullish stance on SKWD stock, giving a Buy rating on October 17.
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Adam Klauber has given his Buy rating due to a combination of factors including Skyward Specialty Insurance Group, Inc.’s impressive third-quarter performance. The company reported a significant 52% year-over-year growth in gross premiums written, surpassing consensus expectations by 33%. This growth was primarily driven by its non-traditional property and casualty lines, such as Agriculture/Credit Re, Specialty Programs, A&H, and Captives business.
Additionally, Skyward achieved an 89.2% combined ratio, which marked a 3-point improvement from the previous year and exceeded consensus by 2 points. This improvement was attributed to reduced catastrophic activity and enhanced expense leverage. Furthermore, the operating earnings per share increased by 48% to $1.05, contributing to a 7% rise in the stock’s after-hours trading. These strong financial metrics underpin Klauber’s positive outlook on the company’s stock.
In another report released on October 17, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $51.00 price target.