BNP Paribas Financial Markets Makes New Investment in Bowhead Specialty Holdings Inc. (NYSE:BOW)

BNP Paribas Financial Markets acquired a new stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 17,274 shares of the company's stock, valued at approximately $484,000. BNP Paribas Financial Markets owned about 0.05% of Bowhead Specialty as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BOW. Quantbot Technologies LP bought a new stake in shares of Bowhead Specialty during the 3rd quarter worth approximately $157,000. The Manufacturers Life Insurance Company lifted its position in shares of 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 purchasing an additional 2,976 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new position in shares of Bowhead Specialty in the third quarter worth about $1,829,000. Victory Capital Management Inc. increased its stake in Bowhead Specialty by 4.5% in the 3rd quarter. Victory Capital Management Inc. now owns 658,595 shares of the company's stock worth $18,447,000 after buying an additional 28,235 shares during the period. Finally, Emerald Advisers LLC increased its stake in Bowhead Specialty by 3.3% in the 3rd quarter. Emerald Advisers LLC now owns 242,633 shares of the company's stock worth $6,796,000 after buying an additional 7,683 shares during the period.

Insider Activity

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of the firm's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $27.70, for a total value of $37,735,294.50. Following the completion of the transaction, the director now directly owns 4,700,761 shares in the company, valued at $130,211,079.70. This trade represents a 22.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Bowhead Specialty Trading Up 1.7 %

Shares of NYSE BOW traded up $0.63 during trading hours on Friday, hitting $36.67. 138,287 shares of the stock were exchanged, compared to its average volume of 184,155. Bowhead Specialty Holdings Inc. has a 12 month low of $22.14 and a 12 month high of $37.81. The firm has a fifty day moving average price of $32.72 and a 200-day moving average price of $29.31.

Bowhead Specialty (NYSE:BOW - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.38. The business had revenue of $116.76 million for the quarter, compared to analyst estimates of $113.00 million. As a group, sell-side analysts forecast that Bowhead Specialty Holdings Inc. will post 1.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Royal Bank of Canada raised their price objective on Bowhead Specialty from $32.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. 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 research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their price objective on shares of Bowhead Specialty from $26.00 to $30.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Bowhead Specialty from $35.00 to $36.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $32.00.

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.