Bowhead Specialty (NYSE:BOW) Reaches New 52-Week High - Time to Buy?

Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $37.81 and last traded at $37.61, with a volume of 41195 shares changing hands. The stock had previously closed at $36.52.

Analysts Set New Price Targets

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

Bowhead Specialty Stock Performance

The firm has a 50 day moving average price of $33.36 and a two-hundred day moving average price of $32.53.

Bowhead Specialty (NYSE:BOW - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.07. The business had revenue of $184.77 million for the quarter, compared to analyst estimates of $102.12 million. Sell-side analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 EPS for the current fiscal year.

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Insider Activity

In related news, Director Ava Schnidman purchased 1,493 shares of Bowhead Specialty stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $33.41 per share, with a total value of $49,881.13. Following the completion of the transaction, the director now owns 1,893 shares of the company's stock, valued at approximately $63,245.13. This trade represents a 373.25 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Bowhead Specialty

A number of large investors have recently bought and sold shares of BOW. Charles Schwab Investment Management Inc. bought a new position in Bowhead Specialty in the third quarter worth about $1,829,000. The Manufacturers Life Insurance Company lifted its holdings in Bowhead Specialty by 5.2% in the third quarter. The Manufacturers Life Insurance Company now owns 60,508 shares of the company's stock worth $1,695,000 after acquiring an additional 2,976 shares during the last quarter. Quantbot Technologies LP bought a new position in Bowhead Specialty in the third quarter worth about $157,000. BNP Paribas Financial Markets bought a new position in Bowhead Specialty in the third quarter worth about $484,000. Finally, MetLife Investment Management LLC bought a new position in Bowhead Specialty in the third quarter worth about $123,000.

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.