Polar Capital Holdings Plc Boosts Holdings in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Polar Capital Holdings Plc lifted its stake in Bowhead Specialty Holdings Inc. (NYSE:BOW) by 160.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 550,000 shares of the company’s stock after acquiring an additional 338,738 shares during the quarter. Polar Capital Holdings Plc owned 1.68% of Bowhead Specialty worth $19,536,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BOW. Summit Investment Advisors Inc. lifted its holdings in shares of Bowhead Specialty by 66.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company’s stock worth $43,000 after acquiring an additional 486 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Bowhead Specialty in the 4th quarter worth approximately $64,000. US Bancorp DE acquired a new position in shares of Bowhead Specialty in the 4th quarter worth approximately $76,000. KLP Kapitalforvaltning AS acquired a new position in shares of Bowhead Specialty in the 4th quarter worth approximately $107,000. Finally, Pictet Asset Management Holding SA acquired a new position in shares of Bowhead Specialty in the 4th quarter worth approximately $145,000.

Insider Activity

In other news, Director Ava Schnidman acquired 1,493 shares of Bowhead Specialty stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $33.41 per share, for a total transaction of $49,881.13. Following the acquisition, the director now owns 1,893 shares of the company’s stock, valued at $63,245.13. This trade represents a 373.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BOW shares. JPMorgan Chase & Co. upped their price objective on shares of Bowhead Specialty from $30.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, April 8th. Keefe, Bruyette & Woods increased their target price on shares of Bowhead Specialty from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, May 9th. Piper Sandler started coverage on shares of Bowhead Specialty in a report on Wednesday, April 16th. They set an “overweight” rating and a $44.00 target price on the stock. Finally, JMP Securities increased their target price on shares of Bowhead Specialty from $38.00 to $40.00 and gave the stock a “market outperform” rating in a report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Bowhead Specialty currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Bowhead Specialty Stock Up 2.1%

Bowhead Specialty stock opened at $38.81 on Friday. The firm has a market cap of $1.27 billion and a PE ratio of 29.63. Bowhead Specialty Holdings Inc. has a 52-week low of $22.14 and a 52-week high of $42.29. The company’s 50 day moving average is $39.09 and its two-hundred day moving average is $35.45.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $174.85 million during the quarter, compared to analyst estimates of $105.17 million. On average, equities research analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

About Bowhead Specialty

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.