Bowhead Specialty Holdings Inc. (NYSE:BOW) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $37.50.

BOW has been the topic of several research analyst reports. JMP Securities raised their target price on Bowhead Specialty from $38.00 to $40.00 and gave the stock a "market outperform" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. boosted their price objective on shares of Bowhead Specialty from $30.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods increased their target price on shares of Bowhead Specialty from $43.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Piper Sandler began coverage on shares of Bowhead Specialty in a research report on Wednesday, April 16th. They issued an "overweight" rating and a $44.00 price target for the company.

Bowhead Specialty Price Performance

BOW stock opened at $39.62 on Friday. The business's 50-day moving average is $38.71 and its two-hundred day moving average is $35.25. The firm has a market capitalization of $1.29 billion and a P/E ratio of 30.24. Bowhead Specialty has a 1 year low of $22.14 and a 1 year high of $42.29.

Bowhead Specialty (NYSE:BOW - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The firm had revenue of $174.85 million during the quarter, compared to analysts' expectations of $105.17 million. On average, analysts expect that Bowhead Specialty will post 1.36 EPS for the current year.

Insider Activity at Bowhead Specialty

In other Bowhead Specialty news, Director Ava Schnidman purchased 1,493 shares of Bowhead Specialty stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $33.41 per share, with a total value of $49,881.13. Following the acquisition, the director now directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Bowhead Specialty

Large investors have recently made changes to their positions in the stock. Gallatin Point Capital LLC acquired a new stake in shares of Bowhead Specialty during the 4th quarter valued at approximately $389,599,000. Victory Capital Management Inc. grew 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 valued at $53,564,000 after purchasing an additional 849,408 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Bowhead Specialty by 3.6% during the 4th quarter. American Century Companies Inc. now owns 953,549 shares of the company's stock worth $33,870,000 after buying an additional 32,792 shares during the last quarter. Wasatch Advisors LP boosted its position in shares of Bowhead Specialty by 125.3% in the 4th quarter. Wasatch Advisors LP now owns 812,901 shares of the company's stock worth $28,874,000 after buying an additional 452,033 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Bowhead Specialty by 16.2% in the 1st quarter. Vanguard Group Inc. now owns 752,320 shares of the company's stock valued at $30,582,000 after acquiring an additional 105,138 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.

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