Keefe, Bruyette & Woods Lowers Bowhead Specialty (NYSE:BOW) Price Target to $43.00

Bowhead Specialty (NYSE:BOW) had its price target cut by Keefe, Bruyette & Woods from $44.00 to $43.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 13.10% from the stock’s current price.

Separately, JPMorgan Chase & Co. upped their price objective on Bowhead Specialty from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.40.

Bowhead Specialty Stock Performance

Shares of NYSE:BOW opened at $38.02 on Wednesday. The company has a fifty day simple moving average of $35.67 and a 200 day simple moving average of $33.66. Bowhead Specialty has a 12-month low of $22.14 and a 12-month high of $42.29.

Bowhead Specialty (NYSE:BOW) last released its earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.07. The company had revenue of $184.77 million during the quarter, compared to the consensus estimate of $102.12 million. As a group, analysts expect that Bowhead Specialty will post 1.36 earnings per share for the current fiscal year.

Insider Activity at Bowhead Specialty

In related news, Director Ava Schnidman bought 1,493 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was bought at an average cost 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 in the company, valued at approximately $63,245.13. The trade was a 373.25 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Trading of Bowhead Specialty

Several hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers grew its stake in Bowhead Specialty by 34.7% during the 1st quarter. Rhumbline Advisers now owns 16,973 shares of the company’s stock worth $690,000 after buying an additional 4,372 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Bowhead Specialty by 7,651.2% during the first quarter. GAMMA Investing LLC now owns 3,333 shares of the company’s stock valued at $135,000 after acquiring an additional 3,290 shares during the period. California State Teachers Retirement System grew its position in shares of Bowhead Specialty by 37.7% during the fourth quarter. California State Teachers Retirement System now owns 12,126 shares of the company’s stock worth $431,000 after acquiring an additional 3,317 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Bowhead Specialty in the 4th quarter worth about $445,000. Finally, Two Sigma Advisers LP boosted its stake in Bowhead Specialty by 575.5% during the 4th quarter. Two Sigma Advisers LP now owns 74,300 shares of the company’s stock valued at $2,639,000 after purchasing an additional 63,300 shares during the period.

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.