Piper Sandler Initiates Coverage on Bowhead Specialty (NYSE:BOW)

Piper Sandler began coverage on shares of Bowhead Specialty (NYSE:BOW - Free Report) in a research report report published on Wednesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $44.00 target price on the stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Bowhead Specialty from $30.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods decreased their price objective on Bowhead Specialty from $44.00 to $43.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, JMP Securities lifted their price target 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Bowhead Specialty presently has an average rating of "Moderate Buy" and a consensus price target of $37.17.

Bowhead Specialty Trading Up 0.8 %

BOW stock traded up $0.31 during mid-day trading on Wednesday, reaching $40.14. 210,798 shares of the stock traded hands, compared to its average volume of 212,890. Bowhead Specialty has a one year low of $22.14 and a one year high of $42.29. The business has a 50-day moving average price of $36.43 and a two-hundred day moving average price of $34.10.

Bowhead Specialty (NYSE:BOW - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.42 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 the consensus estimate of $102.12 million. As a group, analysts anticipate that Bowhead Specialty will post 1.36 earnings per share for the current year.

Insider Transactions at Bowhead Specialty

In related news, Director Ava Schnidman purchased 1,493 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $33.41 per share, with a total value of $49,881.13. Following the acquisition, the director now owns 1,893 shares in the company, valued at $63,245.13. The trade was a 373.25 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Bowhead Specialty

Hedge funds and other institutional investors have recently made changes to their positions in the company. Summit Investment Advisors Inc. lifted its stake in shares of Bowhead Specialty by 66.4% in the 4th 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 during the last quarter. New York State Common Retirement Fund purchased a new position in Bowhead Specialty during the fourth quarter worth about $64,000. US Bancorp DE purchased a new stake in shares of Bowhead Specialty in the 4th quarter valued at approximately $76,000. KLP Kapitalforvaltning AS acquired a new position in Bowhead Specialty during the fourth quarter worth $107,000. Finally, GAMMA Investing LLC boosted its position in shares of Bowhead Specialty by 7,651.2% during the first quarter. GAMMA Investing LLC now owns 3,333 shares of the company's stock worth $135,000 after buying an additional 3,290 shares during the period.

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.