Norges Bank Takes Position in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Norges Bank acquired a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 135,936 shares of the company's stock, valued at approximately $4,828,000. Norges Bank owned 0.42% of Bowhead Specialty at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of BOW. Charles Schwab Investment Management Inc. acquired a new position in Bowhead Specialty in the 3rd quarter valued at about $1,829,000. BNP Paribas Financial Markets bought a new stake in shares of Bowhead Specialty during the third quarter worth approximately $484,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Bowhead Specialty by 9.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 131,600 shares of the company's stock valued at $3,686,000 after purchasing an additional 11,600 shares during the last quarter. State Street Corp bought a new position in shares of Bowhead Specialty during the third quarter worth approximately $1,426,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Bowhead Specialty during the 3rd quarter worth approximately $317,000.

Bowhead Specialty Price Performance

NYSE BOW traded up $0.24 during midday trading on Tuesday, hitting $39.91. The company had a trading volume of 32,774 shares, compared to its average volume of 221,196. Bowhead Specialty Holdings Inc. has a twelve month low of $22.14 and a twelve month high of $42.29. The firm has a 50-day moving average price of $35.89 and a 200-day moving average price of $33.85.

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 analysts' consensus estimates of $0.35 by $0.07. The company 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 earnings per share for the current fiscal year.

Insider Activity

In other Bowhead Specialty news, Director Ava Schnidman purchased 1,493 shares of the firm's stock in a transaction dated 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 purchase, the director now owns 1,893 shares in the company, valued at approximately $63,245.13. This trade represents a 373.25 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

A number of research analysts have commented on BOW shares. JMP Securities upped their price objective on Bowhead Specialty from $38.00 to $40.00 and gave the company a "market outperform" rating in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Bowhead Specialty from $30.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Bowhead Specialty from $44.00 to $43.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $35.80.

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.