Bowhead Specialty Holdings Inc. (NYSE:BOW) Given Average Recommendation of “Moderate Buy” by Analysts

Bowhead Specialty Holdings Inc. (NYSE:BOW) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $37.17.

BOW has been the topic of a number of recent analyst reports. Piper Sandler started coverage on shares of Bowhead Specialty in a research report on Wednesday. They issued an “overweight” rating and a $44.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Bowhead Specialty from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. JMP Securities raised their target price on Bowhead Specialty from $38.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Friday, April 11th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Bowhead Specialty from $44.00 to $43.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th.

Bowhead Specialty Stock Up 3.2 %

Shares of NYSE BOW traded up $1.28 during midday trading on Wednesday, reaching $40.84. 25,792 shares of the stock were exchanged, compared to its average volume of 222,648. Bowhead Specialty has a twelve month low of $22.14 and a twelve month high of $42.29. The company has a 50 day simple moving average of $36.01 and a 200 day simple moving average of $33.90.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.07. The company had revenue of $184.77 million for the quarter, compared to analysts’ expectations of $102.12 million. On average, equities research analysts predict that Bowhead Specialty will post 1.36 earnings per share for the current year.

Insider Activity

In related news, Director Ava Schnidman acquired 1,493 shares of Bowhead Specialty stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of $33.41 per share, with a total value of $49,881.13. Following the purchase, the director now directly owns 1,893 shares in the company, valued at approximately $63,245.13. The trade was a 373.25 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On Bowhead Specialty

Several hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. acquired a new position in shares of Bowhead Specialty during the third quarter worth about $1,829,000. State Street Corp purchased a new stake in shares of Bowhead Specialty in the third quarter valued at approximately $1,426,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Bowhead Specialty in the third quarter valued at approximately $317,000. Barclays PLC acquired a new position in Bowhead Specialty during the third quarter worth $479,000. Finally, Geode Capital Management LLC purchased a new position in Bowhead Specialty in the third quarter worth $4,691,000.

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.