Renaissance Technologies LLC Has $3.53 Million Stock Position in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Renaissance Technologies LLC increased its stake in Bowhead Specialty Holdings Inc. (NYSE:BOW) by 59.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,400 shares of the company’s stock after buying an additional 37,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Bowhead Specialty were worth $3,531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. grew its position in shares of Bowhead Specialty by 129.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,508,003 shares of the company’s stock valued at $53,564,000 after acquiring an additional 849,408 shares during the period. Vanguard Group Inc. lifted its stake in Bowhead Specialty by 55.1% in the 4th quarter. Vanguard Group Inc. now owns 647,182 shares of the company’s stock valued at $22,988,000 after purchasing an additional 230,039 shares during the last quarter. Peregrine Capital Management LLC grew its holdings in Bowhead Specialty by 143.3% during the fourth quarter. Peregrine Capital Management LLC now owns 295,723 shares of the company’s stock worth $10,504,000 after purchasing an additional 174,172 shares during the period. Geode Capital Management LLC acquired a new position in Bowhead Specialty during the third quarter worth approximately $4,691,000. Finally, Norges Bank bought a new stake in Bowhead Specialty in the fourth quarter valued at approximately $4,828,000.

Bowhead Specialty Trading Up 2.6 %

Shares of Bowhead Specialty stock opened at $40.06 on Wednesday. Bowhead Specialty Holdings Inc. has a twelve month low of $22.14 and a twelve month high of $42.29. The company has a 50-day simple moving average of $36.71 and a two-hundred day simple moving average of $34.29.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share (EPS) for the quarter, beating 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. Analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 EPS for the current fiscal year.

Insider Activity

In other news, Director Ava Schnidman bought 1,493 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 1,893 shares of the company’s stock, valued at $63,245.13. This represents a 373.25 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

BOW has been the topic of a number of recent analyst reports. JMP Securities boosted their target price on Bowhead Specialty from $38.00 to $40.00 and gave the stock a “market outperform” rating in a report on Friday, April 11th. JPMorgan Chase & Co. increased their price objective on shares of Bowhead Specialty from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Piper Sandler initiated coverage on shares of Bowhead Specialty in a research note on Wednesday, April 16th. They set an “overweight” rating and a $44.00 target price for the company. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Bowhead Specialty from $44.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.17.

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.