Pictet Asset Management Holding SA Takes Position in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Pictet Asset Management Holding SA acquired a new position in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,096 shares of the company’s stock, valued at approximately $145,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund acquired a new stake in shares of Bowhead Specialty during the fourth quarter worth about $64,000. US Bancorp DE acquired a new stake in Bowhead Specialty during the 4th quarter worth approximately $76,000. KLP Kapitalforvaltning AS acquired a new position in shares of Bowhead Specialty in the fourth quarter valued at approximately $107,000. Corebridge Financial Inc. increased its position in shares of Bowhead Specialty by 49.9% during the fourth quarter. Corebridge Financial Inc. now owns 5,787 shares of the company’s stock worth $206,000 after acquiring an additional 1,926 shares in the last quarter. Finally, Keybank National Association OH acquired a new stake in shares of Bowhead Specialty during the fourth quarter worth $320,000.

Insider Activity at Bowhead Specialty

In other Bowhead Specialty news, Director Ava Schnidman bought 1,493 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $33.41 per share, with a total value of $49,881.13. Following the acquisition, the director now owns 1,893 shares of the company’s stock, valued at $63,245.13. The trade was a 373.25 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BOW shares. Keefe, Bruyette & Woods lowered their target price on Bowhead Specialty from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on Bowhead Specialty from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, JMP Securities raised their price target on shares of Bowhead Specialty from $38.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Bowhead Specialty presently has an average rating of “Moderate Buy” and a consensus target price of $35.80.

Bowhead Specialty Price Performance

Shares of NYSE BOW opened at $37.91 on Friday. The stock has a 50 day moving average price of $35.76 and a 200 day moving average price of $33.73. Bowhead Specialty Holdings Inc. has a 52 week low of $22.14 and a 52 week high of $42.29.

Bowhead Specialty (NYSE:BOW) last issued its earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. The firm had revenue of $184.77 million for the quarter, compared to analyst estimates of $102.12 million. As a group, sell-side analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

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.