Bowhead Specialty's (BOW) "Outperform" Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Bowhead Specialty (NYSE:BOW - Free Report) in a report published on Tuesday, Benzinga reports. The brokerage currently has a $32.00 price objective on the stock.

Separately, JMP Securities lifted their price objective on shares of Bowhead Specialty from $31.00 to $32.00 and gave the company a "market outperform" rating in a research note on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $30.00.

Bowhead Specialty Price Performance

NYSE BOW traded up $0.09 during midday trading on Tuesday, hitting $30.06. The company had a trading volume of 306,723 shares, compared to its average volume of 180,053. The business has a 50-day moving average of $29.54. Bowhead Specialty has a twelve month low of $22.14 and a twelve month high of $32.55.

Bowhead Specialty (NYSE:BOW - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $98.90 million for the quarter, compared to the consensus estimate of $94.28 million. The firm's revenue for the quarter was up 51.0% compared to the same quarter last year. On average, equities analysts expect that Bowhead Specialty will post 1.3 EPS for the current year.

Insider Transactions at Bowhead Specialty

In related 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 transaction of $37,735,294.50. Following the sale, the director now directly owns 4,700,761 shares of the company's stock, valued at approximately $130,211,079.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On Bowhead Specialty

Several hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in shares of Bowhead Specialty during the second quarter valued at about $117,000. Sandia Investment Management LP acquired a new position in shares of Bowhead Specialty during the second quarter worth $127,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Bowhead Specialty in the second quarter worth $192,000. Davidson Kempner Capital Management LP bought a new position in Bowhead Specialty during the 2nd quarter worth $253,000. Finally, TD Asset Management Inc acquired a new position in Bowhead Specialty during the 2nd quarter worth about $265,000.

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.