American Family Investments Inc. Purchases Shares of 6,063,046 Bowhead Specialty Holdings Inc. (NYSE:BOW)

American Family Investments Inc. purchased a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,063,046 shares of the company's stock, valued at approximately $169,826,000. Bowhead Specialty makes up approximately 12.0% of American Family Investments Inc.'s holdings, making the stock its 2nd largest position. American Family Investments Inc. owned approximately 18.56% of Bowhead Specialty as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Bowhead Specialty by 0.5% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 194,333 shares of the company's stock worth $5,443,000 after purchasing an additional 937 shares during the period. The Manufacturers Life Insurance Company increased its position in Bowhead Specialty by 5.2% during the third quarter. The Manufacturers Life Insurance Company now owns 60,508 shares of the company's stock worth $1,695,000 after buying an additional 2,976 shares during the last quarter. MetLife Investment Management LLC bought a new position in shares of Bowhead Specialty in the 3rd quarter valued at approximately $123,000. New Vernon Investment Management LLC bought a new position in shares of Bowhead Specialty in the third quarter valued at approximately $127,000. Finally, Point72 Asset Management L.P. bought a new position in Bowhead Specialty in the 2nd quarter worth $117,000.

Analyst Ratings Changes

A number of research analysts have recently commented on BOW shares. Keefe, Bruyette & Woods upped their price target on Bowhead Specialty from $35.00 to $36.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Royal Bank of Canada lifted their price objective on Bowhead Specialty from $32.00 to $35.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. upped their target price on shares of Bowhead Specialty from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, JMP Securities raised their price target on Bowhead Specialty from $32.00 to $33.00 and gave the company a "market outperform" rating in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $32.00.

Insider Activity at Bowhead Specialty

In related news, Director Family Mutual Insuran American sold 1,362,285 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $27.70, for a total transaction of $37,735,294.50. Following the completion of the sale, the director now directly owns 4,700,761 shares of the company's stock, valued at approximately $130,211,079.70. This represents a 22.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Bowhead Specialty Price Performance

BOW stock traded up $0.52 during midday trading on Tuesday, reaching $36.25. The stock had a trading volume of 130,487 shares, compared to its average volume of 185,768. Bowhead Specialty Holdings Inc. has a twelve month low of $22.14 and a twelve month high of $37.81. The business has a fifty day simple moving average of $32.26 and a two-hundred day simple moving average of $29.12.

Bowhead Specialty (NYSE:BOW - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. The company had revenue of $116.76 million during the quarter, compared to the consensus estimate of $113.00 million. Research analysts expect that Bowhead Specialty Holdings Inc. will post 1.38 EPS for the current 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.