Geode Capital Management LLC Makes New $4.69 Million Investment in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Geode Capital Management LLC bought a new position in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 167,433 shares of the company's stock, valued at approximately $4,691,000. Geode Capital Management LLC owned about 0.51% of Bowhead Specialty as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. bought a new stake in shares of Bowhead Specialty during the 3rd quarter valued at about $1,829,000. Lighthouse Investment Partners LLC bought a new position in shares of Bowhead Specialty during the second quarter valued at approximately $2,653,000. Barclays PLC bought a new position in shares of Bowhead Specialty during the third quarter valued at approximately $479,000. Sei Investments Co. acquired a new stake in shares of Bowhead Specialty during the 2nd quarter worth approximately $2,021,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Bowhead Specialty by 4.5% in the 3rd quarter. Victory Capital Management Inc. now owns 658,595 shares of the company's stock worth $18,447,000 after purchasing an additional 28,235 shares during the last quarter.

Bowhead Specialty Stock Performance

BOW stock traded down $1.58 during trading on Monday, hitting $32.27. The company had a trading volume of 189,044 shares, compared to its average volume of 157,548. The business has a 50 day moving average of $34.33 and a 200 day moving average of $30.31. Bowhead Specialty Holdings Inc. has a fifty-two week low of $22.14 and a fifty-two week high of $37.81.

Bowhead Specialty (NYSE:BOW - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $116.76 million during the quarter, compared to the consensus estimate of $113.00 million. Sell-side analysts predict that Bowhead Specialty Holdings Inc. will post 1.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BOW has been the subject of a number of recent research reports. JMP Securities upped their price objective on Bowhead Specialty from $32.00 to $33.00 and gave the stock a "market outperform" rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods upped their price target on shares of Bowhead Specialty from $35.00 to $36.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on shares of Bowhead Specialty from $26.00 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada raised their price target on shares of Bowhead Specialty from $32.00 to $35.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $32.00.

Insiders Place Their Bets

In other Bowhead Specialty news, Director Family Mutual Insuran American sold 1,362,285 shares of Bowhead Specialty stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $27.70, for a total value of $37,735,294.50. Following the transaction, the director now owns 4,700,761 shares in the company, valued at approximately $130,211,079.70. The trade was a 22.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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.