Bowhead Specialty Holdings Inc. (NYSE:BOW) Receives $37.17 Consensus Price Target from Brokerages

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $37.17.

A number of equities analysts recently issued reports on BOW shares. Keefe, Bruyette & Woods decreased their target price on Bowhead Specialty from $44.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. lifted their price target on Bowhead Specialty from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. JMP Securities upped their price objective on shares of Bowhead Specialty from $38.00 to $40.00 and gave the company a “market outperform” rating in a research note on Friday, April 11th. Finally, Piper Sandler started coverage on shares of Bowhead Specialty in a research report on Wednesday. They issued an “overweight” rating and a $44.00 target price on the stock.

Insider Buying and Selling 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 price of $33.41 per share, with a total value of $49,881.13. Following the purchase, the director now directly owns 1,893 shares of the company’s stock, valued at approximately $63,245.13. This represents a 373.25 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Institutional Trading of Bowhead Specialty

Hedge funds and other institutional investors have recently modified their holdings of the company. Gallatin Point Capital LLC acquired a new position in Bowhead Specialty in the 4th quarter worth about $389,599,000. Victory Capital Management Inc. increased its holdings in Bowhead Specialty by 129.0% in the fourth quarter. Victory Capital Management Inc. now owns 1,508,003 shares of the company’s stock worth $53,564,000 after buying an additional 849,408 shares during the last quarter. American Century Companies Inc. lifted its stake in Bowhead Specialty by 3.6% in the fourth quarter. American Century Companies Inc. now owns 953,549 shares of the company’s stock valued at $33,870,000 after acquiring an additional 32,792 shares during the last quarter. Wasatch Advisors LP grew its position in Bowhead Specialty by 125.3% in the fourth quarter. Wasatch Advisors LP now owns 812,901 shares of the company’s stock worth $28,874,000 after acquiring an additional 452,033 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Bowhead Specialty by 55.1% during the 4th quarter. Vanguard Group Inc. now owns 647,182 shares of the company’s stock worth $22,988,000 after purchasing an additional 230,039 shares during the last quarter.

Bowhead Specialty Stock Performance

NYSE:BOW opened at $40.14 on Wednesday. The company has a 50-day moving average of $36.43 and a 200-day moving average of $34.10. Bowhead Specialty has a twelve month low of $22.14 and a twelve month 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 business had revenue of $184.77 million for the quarter, compared to the consensus estimate of $102.12 million. Analysts forecast that Bowhead Specialty will post 1.36 earnings per share for the current 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.