Bowhead Specialty (NYSE:BOW) Reaches New 1-Year High After Analyst Upgrade

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) hit a new 52-week high during mid-day trading on Wednesday after Keefe, Bruyette & Woods raised their price target on the stock from $35.00 to $36.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Bowhead Specialty traded as high as $37.13 and last traded at $36.90, with a volume of 79408 shares trading hands. The stock had previously closed at $35.81.

BOW has been the topic of several other reports. Royal Bank of Canada boosted their price objective on shares of Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price objective on shares of Bowhead Specialty from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, JMP Securities boosted their price objective on shares of Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Bowhead Specialty presently has a consensus rating of “Hold” and an average price target of $32.00.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BOW. Peregrine Capital Management LLC acquired a new position in Bowhead Specialty in the 2nd quarter valued at about $3,073,000. Lighthouse Investment Partners LLC acquired a new position in Bowhead Specialty in the 2nd quarter valued at about $2,653,000. Sei Investments Co. acquired a new position in Bowhead Specialty in the 2nd quarter valued at about $2,021,000. Victory Capital Management Inc. grew its stake in Bowhead Specialty by 4.5% in the 3rd quarter. Victory Capital Management Inc. now owns 658,595 shares of the company’s stock valued at $18,447,000 after buying an additional 28,235 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Bowhead Specialty in the 2nd quarter valued at about $1,458,000.

Bowhead Specialty Stock Performance

The stock’s 50 day moving average price is $31.58.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. The company had revenue of $116.76 million during the quarter, compared to analyst estimates of $113.00 million. Equities research analysts expect that Bowhead Specialty Holdings Inc. will post 1.38 earnings per share for the current 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.