Bowhead Specialty (NYSE:BOW) Reaches New 52-Week High – Still a Buy?

Bowhead Specialty Holdings Inc. (NYSE:BOW) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $33.20 and last traded at $32.1250, with a volume of 1585 shares. The stock had previously closed at $31.21.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Citizens Jmp reduced their price objective on shares of Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating for the company in a research note on Monday, April 13th. JPMorgan Chase & Co. raised their price target on Bowhead Specialty from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. UBS Group set a $28.00 price target on Bowhead Specialty in a research report on Thursday, May 21st. Royal Bank Of Canada boosted their price objective on Bowhead Specialty from $30.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Finally, Morgan Stanley increased their price objective on Bowhead Specialty from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.71.

Bowhead Specialty Stock Up 0.1%

The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.06 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 0.94 and a beta of -0.10. The stock’s fifty day moving average is $28.85 and its two-hundred day moving average is $25.95.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.42 by $0.06. The firm had revenue of $155.69 million during the quarter, compared to the consensus estimate of $211.74 million. Bowhead Specialty had a net margin of 9.99% and a return on equity of 13.80%. As a group, research analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.96 earnings per share for the current year.

Hedge Funds Weigh In On Bowhead Specialty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Polar Capital Holdings Plc raised its holdings in shares of Bowhead Specialty by 77.6% in the 4th quarter. Polar Capital Holdings Plc now owns 1,225,000 shares of the company’s stock valued at $34,962,000 after acquiring an additional 535,065 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Bowhead Specialty by 36.7% during the third 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. Gillson Capital LP purchased a new position in shares of Bowhead Specialty during the fourth quarter worth about $11,317,000. American Family Investments Inc. grew its holdings in shares of Bowhead Specialty by 6.9% during the second 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 increased its position in shares of Bowhead Specialty by 286.5% in the third quarter. Qube Research & Technologies Ltd now owns 326,228 shares of the company’s stock worth $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.