Charles Schwab Investment Management Inc. Purchases 12,049 Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW)

Charles Schwab Investment Management Inc. raised its position in Bowhead Specialty Holdings Inc. (NYSE:BOW) by 18.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 77,337 shares of the company’s stock after acquiring an additional 12,049 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Bowhead Specialty were worth $2,747,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE bought a new position in shares of Bowhead Specialty in the 4th quarter worth approximately $76,000. Bank of New York Mellon Corp increased its holdings in Bowhead Specialty by 180.6% during the fourth quarter. Bank of New York Mellon Corp now owns 29,550 shares of the company’s stock valued at $1,050,000 after buying an additional 19,018 shares during the last quarter. Alberta Investment Management Corp raised its position in Bowhead Specialty by 64.3% in the fourth quarter. Alberta Investment Management Corp now owns 147,032 shares of the company’s stock worth $5,223,000 after acquiring an additional 57,554 shares during the period. New York State Common Retirement Fund purchased a new position in shares of Bowhead Specialty during the 4th quarter worth $64,000. Finally, Peregrine Capital Management LLC grew its position in shares of Bowhead Specialty by 143.3% during the 4th quarter. Peregrine Capital Management LLC now owns 295,723 shares of the company’s stock valued at $10,504,000 after acquiring an additional 174,172 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.60.

Insider Buying and Selling

In related news, Director Ava Schnidman bought 1,493 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $33.41 per share, for a total transaction of $49,881.13. Following the completion of the transaction, the director now owns 1,893 shares in the company, valued at $63,245.13. The trade was a 373.25 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Bowhead Specialty Trading Up 1.8 %

BOW opened at $41.07 on Friday. Bowhead Specialty Holdings Inc. has a 1-year low of $22.14 and a 1-year high of $41.79. The company has a 50 day simple moving average of $34.02 and a two-hundred day simple moving average of $32.79.

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, topping analysts’ consensus estimates of $0.35 by $0.07. The business had revenue of $184.77 million during the quarter, compared to analysts’ expectations of $102.12 million. On average, equities research analysts expect that Bowhead Specialty Holdings Inc. will post 1.36 EPS for the current year.

Bowhead Specialty 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.