Bessemer Group Inc. Buys 19,950 Shares of Bowhead Specialty Holdings Inc. $BOW

Bessemer Group Inc. grew its holdings in Bowhead Specialty Holdings Inc. (NYSE:BOW) by 6.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 322,450 shares of the company’s stock after acquiring an additional 19,950 shares during the quarter. Bessemer Group Inc. owned 0.98% of Bowhead Specialty worth $12,102,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Informed Momentum Co LLC bought a new stake in shares of Bowhead Specialty in the first quarter valued at about $3,137,000. Goldman Sachs Group Inc. boosted its position in shares of Bowhead Specialty by 33.4% in the first quarter. Goldman Sachs Group Inc. now owns 121,705 shares of the company’s stock valued at $4,947,000 after acquiring an additional 30,440 shares during the period. Deutsche Bank AG boosted its position in shares of Bowhead Specialty by 131.1% in the first quarter. Deutsche Bank AG now owns 15,158 shares of the company’s stock valued at $616,000 after acquiring an additional 8,598 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Bowhead Specialty by 17.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,400 shares of the company’s stock valued at $301,000 after acquiring an additional 1,100 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Bowhead Specialty by 16.2% in the first quarter. Vanguard Group Inc. now owns 752,320 shares of the company’s stock valued at $30,582,000 after acquiring an additional 105,138 shares during the period.

Insider Activity

In other Bowhead Specialty news, Director Matthew Botein sold 2,000,000 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $30.66, for a total transaction of $61,320,000.00. Following the completion of the transaction, the director owned 8,968,445 shares of the company’s stock, valued at approximately $274,972,523.70. The trade was a 18.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gallatin Point Capital Llc sold 2,000,000 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $30.66, for a total value of $61,320,000.00. Following the transaction, the director directly owned 8,968,445 shares of the company’s stock, valued at approximately $274,972,523.70. The trade was a 18.23% decrease in their position. The SEC filing for this sale provides additional information.

Bowhead Specialty Trading Down 3.8%

Shares of NYSE BOW opened at $24.06 on Wednesday. The company has a market cap of $788.52 million, a price-to-earnings ratio of 16.36 and a beta of -0.88. Bowhead Specialty Holdings Inc. has a 12 month low of $23.70 and a 12 month high of $42.29. The stock has a 50-day moving average price of $27.89 and a two-hundred day moving average price of $33.25.

Bowhead Specialty (NYSE:BOW) last issued its earnings results on Monday, August 26th. The company reported $0.27 EPS for the quarter. The firm had revenue of $65.45 million during the quarter. Bowhead Specialty had a return on equity of 13.25% and a net margin of 10.05%. On average, sell-side analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BOW shares. Morgan Stanley reduced their target price on shares of Bowhead Specialty from $34.00 to $31.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods dropped their price target on Bowhead Specialty from $45.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th. Piper Sandler dropped their price target on Bowhead Specialty from $38.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, October 2nd. JMP Securities dropped their price target on Bowhead Specialty from $43.00 to $40.00 and set a “market outperform” rating for the company in a research note on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bowhead Specialty in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $35.67.

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.