Bowhead Specialty (NYSE:BOW) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Bowhead Specialty (NYSE:BOW - Get Free Report) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $30.00 to $35.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential downside of 7.68% from the stock's previous close.

Separately, Keefe, Bruyette & Woods raised shares of Bowhead Specialty from a "market perform" rating to an "outperform" rating and set a $44.00 price target for the company in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bowhead Specialty presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.80.

Bowhead Specialty Stock Performance

NYSE:BOW traded down $0.05 on Tuesday, hitting $37.91. 151,490 shares of the stock were exchanged, compared to its average volume of 211,412. Bowhead Specialty has a fifty-two week low of $22.14 and a fifty-two week high of $42.29. The stock has a fifty day moving average of $35.76 and a 200-day moving average of $33.73.

Bowhead Specialty (NYSE:BOW - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.42 EPS for the quarter, beating 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. As a group, research analysts forecast that Bowhead Specialty will post 1.36 earnings per share for the current year.

Insider Transactions at Bowhead Specialty

In other news, Director Ava Schnidman purchased 1,493 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $33.41 per share, with a total value of $49,881.13. Following the purchase, the director now directly owns 1,893 shares of the company's stock, 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 can be accessed through this link.

Hedge Funds Weigh In On Bowhead Specialty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. lifted its stake in shares of Bowhead Specialty by 66.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company's stock worth $43,000 after acquiring an additional 486 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in Bowhead Specialty during the 4th quarter worth approximately $64,000. US Bancorp DE acquired a new position in shares of Bowhead Specialty in the 4th quarter valued at approximately $76,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Bowhead Specialty during the fourth quarter worth approximately $107,000. Finally, GAMMA Investing LLC increased its stake in shares of Bowhead Specialty by 7,651.2% in 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 last quarter.

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.