Lord Abbett & CO. LLC Acquires 25,304 Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW)

Lord Abbett & CO. LLC grew its holdings in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 10.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 257,870 shares of the company's stock after acquiring an additional 25,304 shares during the period. Lord Abbett & CO. LLC owned about 0.79% of Bowhead Specialty worth $7,223,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. American Family Investments Inc. bought a new stake in shares of Bowhead Specialty in the 3rd quarter valued at approximately $169,826,000. American Century Companies Inc. bought a new stake in Bowhead Specialty during the second quarter valued at $23,148,000. Victory Capital Management Inc. acquired a new stake in shares of Bowhead Specialty during the second quarter worth $15,973,000. Driehaus Capital Management LLC bought a new position in shares of Bowhead Specialty in the 2nd quarter worth about $7,866,000. Finally, Emerald Advisers LLC acquired a new position in shares of Bowhead Specialty in the 2nd quarter valued at about $5,954,000.

Insider Transactions at Bowhead Specialty

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of the firm's stock in a transaction 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 sale, the director now owns 4,700,761 shares in the company, valued at approximately $130,211,079.70. This trade represents a 22.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

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

Bowhead Specialty Trading Down 1.8 %

Shares of NYSE:BOW traded down $0.65 during trading on Tuesday, reaching $35.65. 100,661 shares of the company traded hands, compared to its average volume of 183,112. The firm has a fifty day simple moving average of $32.88 and a 200 day simple moving average of $29.41. Bowhead Specialty Holdings Inc. has a 1-year low of $22.14 and a 1-year high of $37.81.

Bowhead Specialty (NYSE:BOW - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.38 earnings per share for the quarter, hitting analysts' consensus estimates of $0.38. The firm had revenue of $116.76 million for the quarter, compared to analysts' expectations of $113.00 million. On average, equities analysts expect that Bowhead Specialty Holdings Inc. will post 1.38 EPS for the current fiscal year.

Bowhead Specialty Company Profile

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.