Bowhead Specialty Holdings Inc. (NYSE:BOW) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) have earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $37.50.

A number of equities analysts have commented on BOW shares. Piper Sandler started coverage on shares of Bowhead Specialty in a research note on Wednesday, April 16th. They issued an “overweight” rating and a $44.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on shares of Bowhead Specialty from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th. JPMorgan Chase & Co. upped their target price on shares of Bowhead Specialty from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. Finally, JMP Securities upped their target price on shares of Bowhead Specialty from $38.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Friday, April 11th.

Bowhead Specialty Price Performance

Bowhead Specialty stock opened at $38.36 on Friday. Bowhead Specialty has a 1-year low of $22.14 and a 1-year high of $42.29. The firm has a market capitalization of $1.25 billion and a P/E ratio of 29.28. The company’s 50-day moving average is $39.18 and its 200 day moving average is $35.55.

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

Insider Activity

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

Hedge Funds Weigh In On Bowhead Specialty

A number of hedge funds and other institutional investors have recently modified their holdings of BOW. Gallatin Point Capital LLC bought a new position in shares of Bowhead Specialty during the fourth quarter valued at approximately $389,599,000. Victory Capital Management Inc. boosted its stake in shares of Bowhead Specialty by 129.0% during the fourth quarter. Victory Capital Management Inc. now owns 1,508,003 shares of the company’s stock valued at $53,564,000 after purchasing an additional 849,408 shares in the last quarter. Wasatch Advisors LP boosted its stake in shares of Bowhead Specialty by 125.3% during the fourth quarter. Wasatch Advisors LP now owns 812,901 shares of the company’s stock valued at $28,874,000 after purchasing an additional 452,033 shares in the last quarter. Polar Capital Holdings Plc boosted its stake in Bowhead Specialty by 160.3% in the fourth quarter. Polar Capital Holdings Plc now owns 550,000 shares of the company’s stock valued at $19,536,000 after acquiring an additional 338,738 shares in the last quarter. Finally, Bessemer Group Inc. acquired a new stake in Bowhead Specialty in the first quarter valued at approximately $12,297,000.

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.