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

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $33.8333.

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Bowhead Specialty from $38.00 to $36.00 and set an “outperform” rating for the company in a research report on Tuesday, January 6th. Morgan Stanley reduced their price target on Bowhead Specialty from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Monday, November 17th. JMP Securities decreased their price objective on Bowhead Specialty from $43.00 to $40.00 and set a “market outperform” rating for the company in a report on Tuesday, October 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Bowhead Specialty in a research report on Monday, December 29th. Finally, Royal Bank Of Canada started coverage on shares of Bowhead Specialty in a report on Monday, November 24th. They set an “outperform” rating and a $33.00 target price on the stock.

Bowhead Specialty Trading Up 2.1%

NYSE:BOW opened at $24.59 on Friday. The company has a 50-day moving average price of $27.01 and a 200-day moving average price of $28.45. The stock has a market cap of $805.90 million, a price-to-earnings ratio of 15.76 and a beta of -1.06. Bowhead Specialty has a 12 month low of $23.50 and a 12 month high of $42.29.

Bowhead Specialty (NYSE:BOW) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. Bowhead Specialty had a net margin of 10.12% and a return on equity of 13.53%. The company had revenue of $143.93 million during the quarter, compared to the consensus estimate of $144.01 million. Equities analysts forecast that Bowhead Specialty will post 1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Bowhead Specialty

A number of hedge funds and other institutional investors have recently bought and sold shares of BOW. American Century Companies Inc. boosted its holdings in Bowhead Specialty by 73.3% in the third quarter. American Century Companies Inc. now owns 1,412,408 shares of the company’s stock worth $38,192,000 after acquiring an additional 597,191 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Bowhead Specialty by 54.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,525,285 shares of the company’s stock worth $41,244,000 after purchasing an additional 536,817 shares during the last quarter. Vanguard Group Inc. boosted its stake in Bowhead Specialty by 36.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,506,887 shares of the company’s stock worth $40,746,000 after purchasing an additional 404,199 shares in the last quarter. American Family Investments Inc. boosted its stake in Bowhead Specialty by 6.9% in the 2nd quarter. American Family Investments Inc. now owns 5,023,778 shares of the company’s stock worth $188,542,000 after purchasing an additional 323,017 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its position in Bowhead Specialty by 286.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 326,228 shares of the company’s stock valued at $8,821,000 after purchasing an additional 241,829 shares during the last quarter.

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.