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

Key Points

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Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $38.3333.

BOW has been the subject of a number of analyst reports. Zacks Research upgraded shares of Bowhead Specialty from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Deutsche Bank Aktiengesellschaft began coverage on shares of Bowhead Specialty in a report on Friday, August 8th. They set a "buy" rating for the company. Keefe, Bruyette & Woods lowered their price target on shares of Bowhead Specialty from $45.00 to $42.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Finally, Morgan Stanley lowered their price target on shares of Bowhead Specialty from $37.00 to $34.00 and set an "equal weight" rating for the company in a report on Monday, August 18th.

Insiders Place Their Bets

In other news, Director Gallatin Point Capital Llc sold 2,000,000 shares of the company'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 transaction, the director owned 8,968,445 shares in the company, valued at approximately $274,972,523.70. This represents a 18.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Botein sold 2,000,000 shares of the company'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 completion of the sale, the director owned 8,968,445 shares in the company, valued at $274,972,523.70. This represents a 18.23% decrease in their position. The disclosure for this sale can be found here.

Institutional Investors Weigh In On Bowhead Specialty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in Bowhead Specialty in the 1st quarter valued at about $44,000. Summit Investment Advisors Inc. grew its position in shares of Bowhead Specialty by 66.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company's stock valued at $43,000 after acquiring an additional 486 shares during the period. Raymond James Financial Inc. bought a new position in shares of Bowhead Specialty during the 2nd quarter valued at approximately $52,000. Nemes Rush Group LLC bought a new position in shares of Bowhead Specialty during the 1st quarter valued at approximately $61,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Bowhead Specialty by 99.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,926 shares of the company's stock valued at $72,000 after acquiring an additional 958 shares during the period.

Bowhead Specialty Stock Up 0.3%

Shares of BOW traded up $0.1070 during trading hours on Tuesday, reaching $31.7570. The stock had a trading volume of 526,224 shares, compared to its average volume of 355,278. Bowhead Specialty has a 52 week low of $27.07 and a 52 week high of $42.29. The firm has a 50-day moving average of $33.68 and a 200 day moving average of $35.91. The company has a market cap of $1.04 billion, a P/E ratio of 21.60 and a beta of -0.69.

Bowhead Specialty (NYSE:BOW - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. Bowhead Specialty had a net margin of 10.05% and a return on equity of 13.25%. The firm had revenue of $232.36 million during the quarter, compared to analyst estimates of $134.66 million. As a group, equities analysts expect 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.