State Street Corp Buys New Stake in Bowhead Specialty Holdings Inc. (NYSE:BOW)

State Street Corp purchased a new position in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 50,914 shares of the company’s stock, valued at approximately $1,426,000. State Street Corp owned 0.16% of Bowhead Specialty as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BOW. Point72 Asset Management L.P. bought a new stake in Bowhead Specialty in the second quarter valued at $117,000. MetLife Investment Management LLC bought a new position in Bowhead Specialty during the 3rd quarter valued at about $123,000. Sandia Investment Management LP acquired a new position in Bowhead Specialty in the second quarter valued at about $127,000. New Vernon Investment Management LLC bought a new stake in Bowhead Specialty during the third quarter worth about $127,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Bowhead Specialty during the third quarter worth approximately $157,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Bowhead Specialty from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods upped their price target on shares of Bowhead Specialty from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada raised 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. Finally, JMP Securities increased their price target on shares of Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.00.

Insider Buying and Selling at Bowhead Specialty

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of Bowhead Specialty stock in a transaction 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 transaction, the director now directly owns 4,700,761 shares of the company’s stock, valued at $130,211,079.70. This trade represents a 22.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Bowhead Specialty Price Performance

BOW opened at $34.34 on Friday. The firm has a 50 day simple moving average of $34.19 and a 200 day simple moving average of $30.16. Bowhead Specialty Holdings Inc. has a fifty-two week low of $22.14 and a fifty-two week high of $37.81.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.38 earnings per share 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. Analysts forecast that Bowhead Specialty Holdings Inc. will post 1.38 EPS 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.