Renaissance Technologies LLC Purchases 37,100 Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW)

Renaissance Technologies LLC lifted its position in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 59.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,400 shares of the company's stock after acquiring an additional 37,100 shares during the quarter. Renaissance Technologies LLC owned approximately 0.30% of Bowhead Specialty worth $3,531,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BOW. Charles Schwab Investment Management Inc. lifted its position in Bowhead Specialty by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 77,337 shares of the company's stock valued at $2,747,000 after purchasing an additional 12,049 shares during the period. Geode Capital Management LLC bought a new stake in shares of Bowhead Specialty during the third quarter worth approximately $4,691,000. Barclays PLC acquired a new position in Bowhead Specialty in the third quarter valued at approximately $479,000. Bank of New York Mellon Corp boosted its stake in Bowhead Specialty by 180.6% in the fourth quarter. Bank of New York Mellon Corp now owns 29,550 shares of the company's stock valued at $1,050,000 after acquiring an additional 19,018 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Bowhead Specialty during the 4th quarter worth $583,000.

Insider Activity

In other Bowhead Specialty news, Director Ava Schnidman bought 1,493 shares of Bowhead Specialty stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $33.41 per share, for a total transaction of $49,881.13. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Bowhead Specialty Price Performance

NYSE BOW opened at $40.06 on Wednesday. Bowhead Specialty Holdings Inc. has a 52-week low of $22.14 and a 52-week high of $42.29. The business has a 50 day simple moving average of $36.71 and a 200 day simple moving average of $34.29.

Bowhead Specialty (NYSE:BOW - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.07. The company had revenue of $184.77 million for the quarter, compared to analyst estimates of $102.12 million. Equities analysts expect that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BOW has been the topic of several recent research reports. JMP Securities raised their price target on Bowhead Specialty from $38.00 to $40.00 and gave the stock a "market outperform" rating in a research report on Friday, April 11th. Piper Sandler initiated coverage on Bowhead Specialty in a report on Wednesday, April 16th. They set an "overweight" rating and a $44.00 target price on the stock. Keefe, Bruyette & Woods lowered their price target on Bowhead Specialty from $44.00 to $43.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Bowhead Specialty from $30.00 to $35.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.17.

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.

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