Victory Capital Management Inc. Increases Position in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Victory Capital Management Inc. increased its stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 658,595 shares of the company's stock after acquiring an additional 28,235 shares during the quarter. Victory Capital Management Inc. owned approximately 2.02% of Bowhead Specialty worth $18,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of BOW. Emerald Advisers LLC grew its holdings in shares of Bowhead Specialty by 3.3% in the third quarter. Emerald Advisers LLC now owns 242,633 shares of the company's stock worth $6,796,000 after purchasing an additional 7,683 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Bowhead Specialty by 0.5% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 194,333 shares of the company's stock worth $5,443,000 after purchasing an additional 937 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Bowhead Specialty in the second quarter worth about $385,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Bowhead Specialty during the 2nd quarter valued at about $192,000. Finally, Ghisallo Capital Management LLC bought a new position in Bowhead Specialty during the 2nd quarter valued at approximately $2,154,000.

Bowhead Specialty Price Performance

Shares of Bowhead Specialty stock traded up $0.93 during trading on Tuesday, hitting $34.65. 189,424 shares of the company's stock traded hands, compared to its average volume of 186,832. Bowhead Specialty Holdings Inc. has a 1 year low of $22.14 and a 1 year high of $34.85. The stock has a 50-day simple moving average of $29.83.

Bowhead Specialty (NYSE:BOW - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.38 EPS for the quarter, hitting analysts' consensus estimates of $0.38. The company had revenue of $116.76 million during the quarter, compared to the consensus estimate of $113.00 million. As a group, sell-side analysts expect that Bowhead Specialty Holdings Inc. will post 1.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on BOW. JPMorgan Chase & Co. upped their price objective on shares of Bowhead Specialty from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Royal Bank of Canada raised their price target 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 upped their price target on shares of Bowhead Specialty from $32.00 to $33.00 and gave the stock a "market outperform" rating in a research note on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Bowhead Specialty from $30.00 to $33.00 and gave the company a "market perform" rating in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $31.40.

Insider Activity

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of the company's stock in a transaction dated 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 completion of the sale, the director now owns 4,700,761 shares of the company's stock, valued at $130,211,079.70. This represents a 22.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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.