Royal Bank of Canada Buys 37,094 Shares of Bowhead Specialty Holdings Inc. $BOW

Royal Bank of Canada lifted its stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) by 1,796.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 39,159 shares of the company’s stock after acquiring an additional 37,094 shares during the period. Royal Bank of Canada’s holdings in Bowhead Specialty were worth $878,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BOW. Empowered Funds LLC acquired a new stake in Bowhead Specialty in the first quarter worth $1,438,000. Sei Investments Co. boosted its position in shares of Bowhead Specialty by 22.6% during the 1st quarter. Sei Investments Co. now owns 17,088 shares of the company’s stock worth $383,000 after purchasing an additional 3,149 shares in the last quarter. State of Wyoming acquired a new stake in shares of Bowhead Specialty in the 1st quarter valued at about $158,000. First Trust Advisors LP grew its stake in shares of Bowhead Specialty by 374.0% in the 1st quarter. First Trust Advisors LP now owns 172,305 shares of the company’s stock valued at $3,865,000 after buying an additional 135,954 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Bowhead Specialty by 61.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 256,645 shares of the company’s stock valued at $5,756,000 after buying an additional 97,494 shares in the last quarter.

Analyst Ratings Changes

BOW has been the topic of a number of research reports. UBS Group set a $28.00 price target on Bowhead Specialty in a research note on Thursday, May 21st. Weiss Ratings raised Bowhead Specialty from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft downgraded Bowhead Specialty from a “buy” rating to a “hold” rating and set a $34.00 price objective for the company. in a report on Monday, August 3rd. Morgan Stanley upped their target price on Bowhead Specialty from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Royal Bank Of Canada cut Bowhead Specialty from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $38.00 to $34.00 in a report on Tuesday, August 4th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $33.50.

Bowhead Specialty Trading Up 0.0%

Shares of Bowhead Specialty stock opened at $33.50 on Friday. The stock has a fifty day simple moving average of $31.14 and a 200 day simple moving average of $26.99. Bowhead Specialty Holdings Inc. has a 12-month low of $21.21 and a 12-month high of $35.07. The company has a market capitalization of $1.10 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 0.99 and a beta of -0.11. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.31.

Bowhead Specialty (NYSE:BOW) last issued 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. Bowhead Specialty had a return on equity of 14.05% and a net margin of 10.11%.The business had revenue of $163.86 million for the quarter, compared to analysts’ expectations of $278.69 million. On average, sell-side analysts anticipate that Bowhead Specialty Holdings Inc. will post 2 earnings per share for the current fiscal year.

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.