Bowhead Specialty Holdings Inc. (NYSE:BOW) Receives Average Recommendation of "Moderate Buy" from Brokerages

Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six analysts that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $37.17.

A number of research firms have recently commented on BOW. Keefe, Bruyette & Woods cut their price target on Bowhead Specialty from $44.00 to $43.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Piper Sandler began coverage on Bowhead Specialty in a research report on Wednesday. They set an "overweight" rating and a $44.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Bowhead Specialty from $30.00 to $35.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Finally, JMP Securities upped their target price on shares of Bowhead Specialty from $38.00 to $40.00 and gave the stock a "market outperform" rating in a report on Friday, April 11th.

Bowhead Specialty Stock Up 0.8 %

Shares of NYSE BOW traded up $0.31 during trading on Wednesday, reaching $40.14. 210,798 shares of the stock traded hands, compared to its average volume of 212,890. The company has a 50-day moving average of $36.43 and a 200-day moving average of $34.10. Bowhead Specialty has a 52-week low of $22.14 and a 52-week high of $42.29.

Bowhead Specialty (NYSE:BOW - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.07. The business had revenue of $184.77 million during the quarter, compared to analysts' expectations of $102.12 million. On average, equities research analysts anticipate that Bowhead Specialty will post 1.36 EPS for the current year.

Insider Activity

In other Bowhead Specialty news, Director Ava Schnidman purchased 1,493 shares of the business's stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $33.41 per share, for a total transaction of $49,881.13. Following the completion of the transaction, the director now directly owns 1,893 shares in the company, valued at approximately $63,245.13. This represents a 373.25 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BOW. The Manufacturers Life Insurance Company grew its stake in shares of Bowhead Specialty by 0.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 60,963 shares of the company's stock worth $2,165,000 after purchasing an additional 455 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Bowhead Specialty by 66.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company's stock valued at $43,000 after purchasing an additional 486 shares in the last quarter. Sei Investments Co. increased its position in Bowhead Specialty by 0.8% during the 4th quarter. Sei Investments Co. now owns 94,395 shares of the company's stock valued at $3,353,000 after buying an additional 760 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Bowhead Specialty by 0.3% during the fourth quarter. Schroder Investment Management Group now owns 365,886 shares of the company's stock valued at $12,641,000 after acquiring an additional 1,209 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new position in shares of Bowhead Specialty in the 4th quarter worth about $64,000.

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.