90,929 Shares in Bowhead Specialty Holdings Inc. $BOW Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new position in Bowhead Specialty Holdings Inc. (NYSE:BOW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 90,929 shares of the company’s stock, valued at approximately $3,413,000. Y Intercept Hong Kong Ltd owned about 0.28% of Bowhead Specialty as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in Bowhead Specialty in the first quarter worth $44,000. Nemes Rush Group LLC bought a new stake in Bowhead Specialty in the first quarter worth $61,000. NewEdge Advisors LLC bought a new position in Bowhead Specialty during the first quarter valued at $206,000. Royal Bank of Canada raised its stake in shares of Bowhead Specialty by 112.7% in the first quarter. Royal Bank of Canada now owns 5,406 shares of the company’s stock valued at $219,000 after acquiring an additional 2,864 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of Bowhead Specialty in the first quarter valued at $240,000.

Bowhead Specialty Trading Up 0.3%

NYSE BOW opened at $24.09 on Thursday. The company’s 50-day moving average price is $27.76 and its 200-day moving average price is $33.15. The stock has a market cap of $789.51 million, a PE ratio of 16.38 and a beta of -0.88. Bowhead Specialty Holdings Inc. has a 12 month low of $23.50 and a 12 month high of $42.29.

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

Insider Transactions at Bowhead Specialty

In other news, Director Matthew Botein sold 2,000,000 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were 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 in the company, valued at approximately $274,972,523.70. This represents a 18.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gallatin Point Capital Llc sold 2,000,000 shares of the 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 transaction, the director owned 8,968,445 shares in the company, valued at approximately $274,972,523.70. The trade was a 18.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Zacks Research raised shares of Bowhead Specialty from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Bowhead Specialty in a research note on Friday, August 8th. They issued a “buy” rating on the stock. Piper Sandler reduced their target price on shares of Bowhead Specialty from $38.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, October 2nd. JPMorgan Chase & Co. reduced their target price on shares of Bowhead Specialty from $39.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Bowhead Specialty in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

Bowhead Specialty 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.