Skyward Specialty (SKWD)
Underwrites niche commercial P&C risks in the U.S. and through Lloyd’s.
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Writes admitted and excess-and-surplus commercial P&C policies across specialized U.S. niches, while Apollo’s Lloyd’s platform adds global specialty underwriting and managing-agency fees. Revenue comes from premiums, investment income, and fees; results depend on risk selection, loss reserving, reinsurance, distribution partners, and regulated capital.
Writes admitted and excess-and-surplus commercial insurance through nine U.S. divisions: Accident & Health; Agriculture and Credit (Re)insurance; Captives; Construction & Energy Solutions; Global Property; Professional Lines; Specialty Programs; Surety; and Transactional E&S. Policies reach customers through retail agents, wholesale brokers, program administrators, and captive managers, with operations concentrated in the United States.
Adds a Lloyd’s of London platform through Apollo, whose managed syndicates write specialty risks and generate underwriting results, managing-agency fees, and performance-based income using company and third-party capital. Specialist underwriting and claims teams combine risk-level judgment with data analytics to price complex niches. Results depend on risk selection, loss reserving, catastrophe exposure, distribution relationships, annual reinsurance availability, and insurance regulation across U.S. states and the Lloyd’s market.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 5, 2026 | Barclays | Reiterate | Rating: —Target: $65 | Target: $68 |
| Jul 15, 2026 | Piper Sandler | Reiterate | Rating: —Target: $68 | Target: $72 |
| Jul 7, 2026 | Barclays | Reiterate | Rating: —Target: $63 | Target: $65 |
| Jul 7, 2026 | Piper Sandler | Reiterate | Rating: —Target: $64 | Target: $68 |
| Jun 9, 2026 | Capital One Financial | Target | Target: — | Target: $59 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $2.41B · Total debt $437.2M · Total assets $6.78B · Shareholders' equity $1.27B
- Revenue
- $476.9M
- Operating income
- $63.6M
- Net income
- $49.0M
No dividends on record.
| Institutions | 98.29% | 39.85M shares | |
|---|---|---|---|
| 249 holders · as of Jun 30, 2026 | |||
| Insiders | 9.40% | 3.81M shares | |
| 21 holders · as of Jun 15, 2026 | |||
| Adds to | 107.69% | ||
40.54M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 107.69%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 9.07% | 3.68M | as of Jun 30, 2026 |
Reinhart Partners, Inc.Institution | 7.14% | 2.89M | as of Jun 30, 2026 |
James Charles Hays1Insiderdirector | 6.96% | 2.81M | filed May 7, 2026 |
Price T Rowe Associates Inc /MD/Institution | 6.02% | 2.44M | as of Jun 30, 2026 |
Invesco Ltd.Institution | 5.03% | 2.04M | as of Jun 30, 2026 |
- James Charles Hays's transaction reports restate only vehicles that traded; the 2024 ownership statement (2.81M) plus the 11.8K net shares acquired since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 12, 2026 | Thomas N. Schmitt | officer: CPO, Skyward Group | −8,397 | $51.32 |
| May 21, 2026 | Anthony J. Kuczinski | director | +2,000 | $47.10 |
| May 11, 2026 | Gena L. Ashe | director | −740 | $46.35 |
| Feb 27, 2026 | Anthony J. Kuczinski | director | +2,000 | $46.88 |
| Mar 2, 2026 | Anthony J. Kuczinski | director | +2,000 | $48.79 |
- Kinsale Capital Group
Pure-play E&S pressure across casualty and property
- Markel Group
Large specialty insurer named in Skyward's filing
- W. R. Berkley
Decentralized commercial specialty competitor across many niches
- American Financial Group
Great American specialty P&C overlaps in agriculture and casualty
- RLI
Specialty admitted, E&S, casualty, property, and surety rival
- Bowhead Specialty
E&S-focused casualty and professional liability challenger
- C.N.A. Financial
Commercial P&C scale in specialty, surety, and professional lines
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Skyward Specialty | $55.93 | −0.66% | $2.28B | 13.1 | 10.8 | 1.4 | +130.9% |
| Kinsale Capital Group | $354.80 | −0.95% | $8.16B | 14.5 | 16.9 | 4.1 | −3.7% |
| Markel Group | $1,766.50 | −0.46% | $21.99B | 9.8 | 15.4 | 1.3 | +17.6% |
| W. R. Berkley | $68.75 | −0.07% | $25.61B | 14.1 | 14.5 | 1.4 | +1.2% |
| American Financial Group | $141.27 | +0.02% | $11.74B | 12.3 | 11.3 | 1.4 | −0.5% |
| RLI | $58.92 | −0.26% | $5.42B | 12.4 | 21.9 | 2.7 | +16.0% |
| Bowhead Specialty | $33.89 | +0.31% | $1.11B | 18.3 | 15.5 | 1.8 | +123.5% |
| C.N.A. Financial | $47.63 | −0.35% | $12.93B | 10.5 | 10.3 | 0.9 | +3.0% |
| Median | 12.4 | 15.4 | 1.4 | +3.0% |