Bowhead Specialty (NYSE:BOW) Sets New 12-Month High - Here's Why

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $39.43 and last traded at $39.07, with a volume of 100766 shares traded. The stock had previously closed at $37.70.

Wall Street Analyst Weigh In

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

Bowhead Specialty Trading Up 2.7 %

The firm has a 50-day moving average of $34.02 and a two-hundred day moving average of $32.79.

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

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Insider Activity

In other Bowhead Specialty news, Director Ava Schnidman purchased 1,493 shares of the stock in a transaction on Friday, February 28th. The shares were bought at an average price of $33.41 per share, for a total transaction of $49,881.13. Following the completion of the transaction, the director now owns 1,893 shares of the company's stock, valued at $63,245.13. This trade represents a 373.25 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Institutional Trading of Bowhead Specialty

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. acquired a new stake in Bowhead Specialty in the 3rd quarter valued at $1,829,000. The Manufacturers Life Insurance Company raised its position in shares of Bowhead Specialty by 5.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 60,508 shares of the company's stock worth $1,695,000 after purchasing an additional 2,976 shares during the last quarter. Quantbot Technologies LP purchased a new position in Bowhead Specialty in the 3rd quarter valued at about $157,000. BNP Paribas Financial Markets acquired a new stake in Bowhead Specialty in the 3rd quarter worth about $484,000. Finally, MetLife Investment Management LLC purchased a new position in shares of Bowhead Specialty in the third quarter valued at approximately $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.