Bowhead Specialty Holdings Inc. (NYSE:BOW) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers lifted its stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) by 89.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,601 shares of the company’s stock after buying an additional 5,953 shares during the quarter. Rhumbline Advisers’ holdings in Bowhead Specialty were worth $448,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BOW. Victory Capital Management Inc. grew its position in shares of Bowhead Specialty by 4.5% during the third quarter. Victory Capital Management Inc. now owns 658,595 shares of the company’s stock worth $18,447,000 after buying an additional 28,235 shares in the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in Bowhead Specialty during the third quarter worth approximately $1,829,000. The Manufacturers Life Insurance Company lifted its stake in Bowhead Specialty by 5.2% during the third quarter. The Manufacturers Life Insurance Company now owns 60,508 shares of the company’s stock worth $1,695,000 after purchasing an additional 2,976 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Bowhead Specialty during the third quarter worth approximately $157,000. Finally, BNP Paribas Financial Markets purchased a new stake in Bowhead Specialty during the third quarter worth approximately $484,000.

Bowhead Specialty Stock Performance

BOW stock opened at $33.54 on Friday. Bowhead Specialty Holdings Inc. has a fifty-two week low of $22.14 and a fifty-two week high of $37.81. The business has a 50 day moving average price of $32.86 and a 200 day moving average price of $32.18.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. The firm had revenue of $184.77 million during the quarter, compared to analysts’ expectations of $102.12 million. Analysts forecast that Bowhead Specialty Holdings Inc. will post 1.36 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upgraded Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Monday, March 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

Insider Transactions at Bowhead Specialty

In related news, Director Ava Schnidman purchased 1,493 shares of the business’s stock in a transaction dated 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 purchase, the director now directly owns 1,893 shares of the company’s stock, valued at $63,245.13. This trade represents a 373.25 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bowhead Specialty 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.