Bowhead Specialty (NYSE:BOW) Hits New 12-Month High After Analyst Upgrade

Bowhead Specialty Holdings Inc. (NYSE:BOW)’s share price 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 changing hands. The stock had previously closed at $35.81.

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

Insider Activity at Bowhead Specialty

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of the stock in a transaction on Friday, October 25th. The stock was 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 represents a 22.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BOW. Peregrine Capital Management LLC bought a new stake in Bowhead Specialty during the second quarter valued at about $3,073,000. Lighthouse Investment Partners LLC bought a new stake in Bowhead Specialty during the 2nd quarter valued at approximately $2,653,000. Sei Investments Co. purchased a new position in Bowhead Specialty in the 2nd quarter worth approximately $2,021,000. Victory Capital Management Inc. boosted 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 worth $18,447,000 after purchasing an additional 28,235 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in Bowhead Specialty during the 2nd quarter valued at approximately $1,458,000.

Bowhead Specialty Stock Performance

The firm’s 50-day moving average is $31.78.

Bowhead Specialty (NYSE:BOW) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The firm had revenue of $116.76 million for the quarter, compared to analysts’ expectations of $113.00 million. As a group, equities analysts expect that Bowhead Specialty Holdings Inc. will post 1.38 earnings per share for the current fiscal 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.