Bowhead Specialty Holdings Inc. (NYSE:BOW) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $38.3333.

Several equities research analysts have recently commented on the stock. Morgan Stanley decreased their target price on shares of Bowhead Specialty from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. Zacks Research raised shares of Bowhead Specialty from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. Keefe, Bruyette & Woods decreased their target price on shares of Bowhead Specialty from $45.00 to $42.00 and set an “outperform” rating for the company in a research report on Tuesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Bowhead Specialty in a research report on Friday, August 8th. They set a “buy” rating for the company.

Bowhead Specialty Trading Down 2.6%

BOW opened at $28.15 on Friday. Bowhead Specialty has a 1-year low of $27.07 and a 1-year high of $42.29. The company has a market cap of $922.71 million, a P/E ratio of 19.15 and a beta of -0.71. The company has a fifty day moving average price of $31.93 and a two-hundred day moving average price of $35.70.

Bowhead Specialty (NYSE:BOW) last posted its earnings results on Tuesday, August 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $232.36 million during the quarter, compared to the consensus estimate of $134.66 million. Bowhead Specialty had a net margin of 10.05% and a return on equity of 13.25%. On average, research analysts forecast that Bowhead Specialty will post 1.36 EPS for the current fiscal year.

Insider Activity

In other news, Director Matthew Botein sold 2,000,000 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $30.66, for a total transaction of $61,320,000.00. Following the completion of the sale, the director directly owned 8,968,445 shares of the company’s stock, valued at $274,972,523.70. The trade was a 18.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gallatin Point Capital Llc sold 2,000,000 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $30.66, for a total transaction of $61,320,000.00. Following the transaction, the director owned 8,968,445 shares in the company, valued at approximately $274,972,523.70. This trade represents a 18.23% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in Bowhead Specialty during the second quarter worth about $228,000. Tower Research Capital LLC TRC boosted its holdings in Bowhead Specialty by 99.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,926 shares of the company’s stock worth $72,000 after purchasing an additional 958 shares during the last quarter. American Family Investments Inc. boosted its holdings in Bowhead Specialty by 6.9% during the second quarter. American Family Investments Inc. now owns 5,023,778 shares of the company’s stock worth $188,542,000 after purchasing an additional 323,017 shares during the last quarter. Engineers Gate Manager LP boosted its stake in Bowhead Specialty by 66.0% in the second quarter. Engineers Gate Manager LP now owns 46,839 shares of the company’s stock valued at $1,758,000 after acquiring an additional 18,619 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Bowhead Specialty by 32.7% in the second quarter. BNP Paribas Financial Markets now owns 68,506 shares of the company’s stock valued at $2,571,000 after acquiring an additional 16,900 shares during the last quarter.

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.