Bowhead Specialty (NYSE:BOW) Price Target Raised to $34.00

Bowhead Specialty (NYSE:BOW) had its price objective hoisted by equities researchers at Keefe, Bruyette & Woods from $31.00 to $34.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 21.97% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Zacks Research upgraded Bowhead Specialty from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Morgan Stanley lifted their price objective on Bowhead Specialty from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Citizens Jmp decreased their price objective on Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating on the stock in a report on Monday, April 13th. Weiss Ratings raised shares of Bowhead Specialty from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday. Finally, Royal Bank Of Canada reduced their price target on shares of Bowhead Specialty from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.83.

Bowhead Specialty Price Performance

BOW stock traded down $0.01 during midday trading on Wednesday, hitting $27.88. The company’s stock had a trading volume of 14,221 shares, compared to its average volume of 211,980. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.32. Bowhead Specialty has a 12 month low of $21.21 and a 12 month high of $39.33. The company has a 50 day moving average of $23.68 and a two-hundred day moving average of $25.22. The firm has a market capitalization of $915.42 million, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 0.85 and a beta of -0.15.

Bowhead Specialty (NYSE:BOW) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.06. Bowhead Specialty had a net margin of 9.99% and a return on equity of 13.80%. The firm had revenue of $155.69 million for the quarter, compared to analysts’ expectations of $211.74 million. On average, analysts expect that Bowhead Specialty will post 1.95 EPS for the current year.

Institutional Trading of Bowhead Specialty

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in shares of Bowhead Specialty by 61.3% during the first quarter. Dimensional Fund Advisors LP now owns 256,645 shares of the company’s stock worth $5,756,000 after purchasing an additional 97,494 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Bowhead Specialty by 181.4% in the first quarter. Parallel Advisors LLC now owns 1,652 shares of the company’s stock worth $37,000 after purchasing an additional 1,065 shares during the last quarter. Hsbc Holdings PLC increased its stake in Bowhead Specialty by 56.3% in the 1st quarter. Hsbc Holdings PLC now owns 19,900 shares of the company’s stock worth $451,000 after buying an additional 7,164 shares during the period. Invesco Ltd. increased its stake in Bowhead Specialty by 3.5% in the 4th quarter. Invesco Ltd. now owns 14,484 shares of the company’s stock worth $413,000 after buying an additional 490 shares during the period. Finally, Susquehanna Fundamental Investments LLC lifted its holdings in Bowhead Specialty by 21.7% during the 4th quarter. Susquehanna Fundamental Investments LLC now owns 39,346 shares of the company’s stock valued at $1,123,000 after buying an additional 7,005 shares in 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.