State Street Corp Acquires New Shares in Bowhead Specialty Holdings Inc. (NYSE:BOW)

State Street Corp acquired a new position in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 50,914 shares of the company's stock, valued at approximately $1,426,000. State Street Corp owned about 0.16% of Bowhead Specialty at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in shares of Bowhead Specialty in the 2nd quarter worth approximately $117,000. MetLife Investment Management LLC bought a new position in Bowhead Specialty in the third quarter worth $123,000. Sandia Investment Management LP acquired a new stake in Bowhead Specialty during the second quarter worth $127,000. New Vernon Investment Management LLC bought a new stake in Bowhead Specialty in the 3rd quarter valued at $127,000. Finally, Quantbot Technologies LP acquired a new position in shares of Bowhead Specialty in the 3rd quarter valued at $157,000.

Analysts Set New Price Targets

Several analysts have recently weighed in on BOW shares. Keefe, Bruyette & Woods lifted their target price on shares of Bowhead Specialty from $35.00 to $36.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Royal Bank of Canada lifted their price objective on Bowhead Specialty from $32.00 to $35.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. 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 report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their target price on Bowhead Specialty from $26.00 to $30.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $32.00.

Insiders Place Their Bets

In other Bowhead Specialty news, Director Family Mutual Insuran American sold 1,362,285 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $27.70, for a total value of $37,735,294.50. Following the transaction, the director now directly owns 4,700,761 shares in the company, valued at approximately $130,211,079.70. This trade represents a 22.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bowhead Specialty Stock Performance

Shares of NYSE:BOW traded down $0.49 during trading on Friday, reaching $33.85. The stock had a trading volume of 97,455 shares, compared to its average volume of 141,827. Bowhead Specialty Holdings Inc. has a 52 week low of $22.14 and a 52 week high of $37.81. The business's 50-day moving average price is $34.28 and its 200 day moving average price is $30.21.

Bowhead Specialty (NYSE:BOW - Get Free Report) last issued 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 business had revenue of $116.76 million during the quarter, compared to the consensus estimate of $113.00 million. As a group, sell-side analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.38 EPS for the current fiscal year.

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.