Bowhead Specialty (NYSE:BOW) Upgraded by Keefe, Bruyette & Woods to Outperform Rating

Keefe, Bruyette & Woods upgraded shares of Bowhead Specialty (NYSE:BOW) from a market perform rating to an outperform rating in a report issued on Monday, Marketbeat Ratings reports. They currently have $44.00 price objective on the stock.

Several other equities research analysts have also issued reports on the stock. JMP Securities lifted 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 note on Wednesday, November 6th. Royal Bank of Canada lifted their price objective on shares of Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Bowhead Specialty from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Bowhead Specialty currently has an average rating of “Moderate Buy” and an average price target of $33.60.

Bowhead Specialty Stock Performance

Bowhead Specialty stock opened at $34.61 on Monday. The company’s fifty day simple moving average is $32.92 and its 200-day simple moving average is $31.98. Bowhead Specialty has a 12 month low of $22.14 and a 12 month high of $37.81.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.35 by $0.07. The company had revenue of $184.77 million for the quarter, compared to analysts’ expectations of $102.12 million. On average, analysts forecast that Bowhead Specialty will post 1.36 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ava Schnidman purchased 1,493 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $33.41 per share, with a total value 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. The trade was a 373.25 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Bowhead Specialty

Hedge funds have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. increased its holdings in shares of Bowhead Specialty by 66.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company’s stock worth $43,000 after acquiring an additional 486 shares in the last quarter. New York State Common Retirement Fund bought a new stake in shares of Bowhead Specialty in the fourth quarter worth about $64,000. US Bancorp DE bought a new stake in shares of Bowhead Specialty in the fourth quarter worth about $76,000. KLP Kapitalforvaltning AS bought a new stake in shares of Bowhead Specialty in the fourth quarter worth about $107,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Bowhead Specialty in the third quarter worth about $123,000.

Bowhead Specialty Company 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.