Bowhead Specialty (NYSE:BOW) Sets New 52-Week High - Here's What Happened

Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $34.30 and last traded at $33.91, with a volume of 2781 shares traded. The stock had previously closed at $34.10.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JMP Securities boosted their price objective on shares of Bowhead Specialty from $32.00 to $33.00 and gave the stock a "market outperform" rating in a report on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on shares of Bowhead Specialty from $32.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price objective on shares of Bowhead Specialty from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods upped their price objective on Bowhead Specialty from $30.00 to $33.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Bowhead Specialty currently has a consensus rating of "Hold" and a consensus price target of $31.40.

Bowhead Specialty Price Performance

The firm has a 50 day simple moving average of $29.68.

Bowhead Specialty (NYSE:BOW - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. The firm had revenue of $116.76 million during the quarter, compared to the consensus estimate of $113.00 million. As a group, analysts forecast that Bowhead Specialty Holdings Inc. will post 1.38 EPS for the current year.

Insider Buying and Selling at Bowhead Specialty

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $27.70, for a total transaction of $37,735,294.50. Following the sale, the director now directly owns 4,700,761 shares in the company, valued at approximately $130,211,079.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of Bowhead Specialty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. purchased a new position in shares of Bowhead Specialty during the second quarter worth approximately $23,148,000. Victory Capital Management Inc. purchased a new position in shares of Bowhead Specialty during the second quarter worth approximately $15,973,000. Driehaus Capital Management LLC purchased a new position in shares of Bowhead Specialty during the second quarter worth approximately $7,866,000. Emerald Advisers LLC purchased a new position in shares of Bowhead Specialty during the second quarter worth approximately $5,954,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Bowhead Specialty during the second quarter worth approximately $4,901,000.

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.