Bank of New York Mellon Corp Grows Position in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Bank of New York Mellon Corp grew its position in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 180.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,550 shares of the company's stock after purchasing an additional 19,018 shares during the period. Bank of New York Mellon Corp owned approximately 0.09% of Bowhead Specialty worth $1,050,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BOW. New York State Common Retirement Fund purchased a new position in Bowhead Specialty during the 4th quarter valued at approximately $64,000. MetLife Investment Management LLC purchased a new position in shares of Bowhead Specialty in the third quarter valued at $123,000. New Vernon Investment Management LLC purchased a new position in shares of Bowhead Specialty in the third quarter valued at $127,000. Quantbot Technologies LP bought a new stake in Bowhead Specialty in the third quarter worth $157,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Bowhead Specialty in the 3rd quarter worth $317,000.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upgraded Bowhead Specialty from a "market perform" rating to an "outperform" rating and set a $44.00 target price for the company in a report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Bowhead Specialty presently has an average rating of "Moderate Buy" and an average price target of $33.60.

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Insider Transactions at Bowhead Specialty

In related news, Director Ava Schnidman purchased 1,493 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $33.41 per share, with a total value of $49,881.13. Following the completion of the purchase, the director now owns 1,893 shares of the company's stock, valued at approximately $63,245.13. The trade was a 373.25 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Bowhead Specialty Stock Up 3.1 %

Shares of NYSE:BOW traded up $1.26 during trading hours on Friday, hitting $42.26. 582,850 shares of the company's stock traded hands, compared to its average volume of 202,323. The business has a fifty day moving average price of $34.02 and a 200-day moving average price of $32.79. Bowhead Specialty Holdings Inc. has a 1 year low of $22.14 and a 1 year high of $42.28.

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

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.