Bowhead Specialty Holdings Inc. (NYSE:BOW) Receives Average Recommendation of "Moderate Buy" from Analysts

Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) has been given an average rating of "Moderate Buy" by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $39.67.

A number of brokerages have recently weighed in on BOW. Morgan Stanley upped their price target on shares of Bowhead Specialty from $36.00 to $39.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. JMP Securities upped their price target on shares of Bowhead Specialty from $38.00 to $40.00 and gave the stock a "market outperform" rating in a report on Friday, April 11th. Keefe, Bruyette & Woods upped their price target on shares of Bowhead Specialty from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Piper Sandler began coverage on shares of Bowhead Specialty in a research report on Wednesday, April 16th. They set an "overweight" rating and a $44.00 price objective for the company. Finally, JPMorgan Chase & Co. upped 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.

Hedge Funds Weigh In On Bowhead Specialty

Several institutional investors and hedge funds have recently added to or reduced their stakes in BOW. Rhumbline Advisers increased its position in Bowhead Specialty by 89.5% in the 4th quarter. Rhumbline Advisers now owns 12,601 shares of the company's stock valued at $448,000 after acquiring an additional 5,953 shares during the period. New York State Common Retirement Fund acquired a new position in Bowhead Specialty in the 4th quarter valued at approximately $64,000. Bank of New York Mellon Corp increased its position in Bowhead Specialty by 180.6% in the 4th quarter. Bank of New York Mellon Corp now owns 29,550 shares of the company's stock valued at $1,050,000 after acquiring an additional 19,018 shares during the period. US Bancorp DE acquired a new position in Bowhead Specialty in the 4th quarter valued at approximately $76,000. Finally, Charles Schwab Investment Management Inc. increased its position in Bowhead Specialty by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 77,337 shares of the company's stock valued at $2,747,000 after acquiring an additional 12,049 shares during the period.

Bowhead Specialty Trading Up 0.2%

Shares of Bowhead Specialty stock opened at $37.22 on Monday. The company has a 50 day moving average of $37.98 and a 200-day moving average of $36.07. Bowhead Specialty has a 1-year low of $24.41 and a 1-year high of $42.29. The company has a market cap of $1.22 billion and a PE ratio of 28.41.

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 for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. Bowhead Specialty had a net margin of 9.32% and a return on equity of 12.52%. The company had revenue of $174.85 million during the quarter, compared to the consensus estimate of $105.17 million. Research 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.

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