Renaissance Technologies LLC Sells 181,700 Shares of Bowhead Specialty Holdings Inc. $BOW

Renaissance Technologies LLC lowered its position in Bowhead Specialty Holdings Inc. (NYSE:BOW) by 77.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,400 shares of the company’s stock after selling 181,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Bowhead Specialty were worth $1,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in Bowhead Specialty by 112.7% during the 1st quarter. Royal Bank of Canada now owns 5,406 shares of the company’s stock worth $219,000 after buying an additional 2,864 shares during the period. AQR Capital Management LLC acquired a new position in Bowhead Specialty in the 1st quarter valued at approximately $430,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Bowhead Specialty by 42.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,389 shares of the company’s stock valued at $382,000 after acquiring an additional 2,802 shares during the last quarter. Millennium Management LLC raised its stake in shares of Bowhead Specialty by 75.8% during the first quarter. Millennium Management LLC now owns 250,277 shares of the company’s stock valued at $10,174,000 after acquiring an additional 107,896 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new position in shares of Bowhead Specialty during the first quarter worth $206,000.

Bowhead Specialty Trading Down 0.2%

NYSE:BOW opened at $33.51 on Friday. Bowhead Specialty Holdings Inc. has a 12 month low of $21.21 and a 12 month high of $35.07. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 1.00 and a beta of -0.11. The firm has a fifty day simple moving average of $30.30 and a two-hundred day simple moving average of $26.63.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. The firm had revenue of $163.86 million for the quarter, compared to analyst estimates of $278.69 million. Bowhead Specialty had a net margin of 10.11% and a return on equity of 14.05%. Analysts expect that Bowhead Specialty Holdings Inc. will post 1.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on BOW. Keefe, Bruyette & Woods boosted their price objective on shares of Bowhead Specialty from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft downgraded Bowhead Specialty from a “buy” rating to a “hold” rating and set a $34.00 target price on the stock. in a report on Monday, August 3rd. Royal Bank Of Canada lowered Bowhead Specialty from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $38.00 to $34.00 in a research report on Tuesday, August 4th. JPMorgan Chase & Co. increased their price target on Bowhead Specialty from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Finally, UBS Group set a $28.00 price objective on Bowhead Specialty in a research report on Thursday, May 21st. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $33.00.

Bowhead Specialty Company 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.