Bowhead Specialty (NYSE:BOW) Hits New 52-Week High – Still a Buy?

Bowhead Specialty Holdings Inc. (NYSE:BOW) shares hit a new 52-week high during trading on Monday . The company traded as high as $39.43 and last traded at $39.07, with a volume of 100766 shares. The stock had previously closed at $37.70.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upgraded shares of Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bowhead Specialty presently has an average rating of “Moderate Buy” and an average target price of $33.60.

Bowhead Specialty Trading Up 1.4 %

The business has a fifty day moving average price of $33.69 and a two-hundred day moving average price of $32.67.

Bowhead Specialty (NYSE:BOW) last released its earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.07. The firm had revenue of $184.77 million during the quarter, compared to analyst estimates of $102.12 million. As a group, research analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

Insider Buying and Selling at Bowhead Specialty

In other Bowhead Specialty news, Director Ava Schnidman bought 1,493 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $33.41 per share, with a total value of $49,881.13. Following the completion of the acquisition, the director now directly owns 1,893 shares of the company’s stock, valued at $63,245.13. This represents a 373.25 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. acquired a new position in shares of Bowhead Specialty during the third quarter worth about $1,829,000. Geode Capital Management LLC acquired a new position in Bowhead Specialty during the 3rd quarter worth approximately $4,691,000. Barclays PLC acquired a new stake in shares of Bowhead Specialty in the 3rd quarter valued at approximately $479,000. Rhumbline Advisers boosted its stake in shares of Bowhead Specialty by 89.5% in the fourth quarter. Rhumbline Advisers now owns 12,601 shares of the company’s stock valued at $448,000 after buying an additional 5,953 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in Bowhead Specialty during the third quarter worth $1,382,000.

Bowhead Specialty Company Profile

Bowhead Specialty Holdings Inc provides specialty property and casualty insurance products in the United States. It underwrites casualty insurance solutions for risks in the construction, distribution, heavy manufacturing, real estate, and hospitality segments; professional liability insurance solutions for financial institutions, private and public directors and officers liability insurance, errors and omissions liability insurance, and cyber segments; and healthcare solutions for hospitals, senior care providers, managed care organizations, miscellaneous medical facilities, and healthcare management liability segments.