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

Key Points

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Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $38.3333.

A number of analysts have recently issued reports on BOW shares. Morgan Stanley reduced their price objective on shares of Bowhead Specialty from $37.00 to $34.00 and set an "equal weight" rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft started coverage on shares of Bowhead Specialty in a research note on Friday, August 8th. They issued a "buy" rating for the company. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Bowhead Specialty from $45.00 to $42.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th.

Bowhead Specialty Trading Down 1.3%

Shares of BOW stock opened at $30.24 on Tuesday. Bowhead Specialty has a 12 month low of $27.00 and a 12 month high of $42.29. The stock has a market cap of $991.23 million, a P/E ratio of 20.57 and a beta of -0.69. The company has a 50 day simple moving average of $34.03 and a two-hundred day simple moving average of $35.98.

Bowhead Specialty (NYSE:BOW - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.37 EPS for the quarter, beating 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 business had revenue of $232.36 million during the quarter, compared to analysts' expectations of $134.66 million. As a group, equities analysts forecast that Bowhead Specialty will post 1.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Matthew Botein sold 2,000,000 shares of the company's stock in a transaction on 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gallatin Point Capital Llc sold 2,000,000 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $274,972,523.70. This represents a 18.23% decrease in their position. The disclosure for this sale can be found here.

Hedge Funds Weigh In On Bowhead Specialty

Institutional investors have recently bought and sold shares of the business. Summit Investment Advisors Inc. lifted its position in Bowhead Specialty by 66.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company's stock valued at $43,000 after purchasing an additional 486 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Bowhead Specialty in the 1st quarter worth about $44,000. Raymond James Financial Inc. bought a new stake in shares of Bowhead Specialty in the 2nd quarter worth about $52,000. Nemes Rush Group LLC bought a new stake in shares of Bowhead Specialty in the 1st quarter worth about $61,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Bowhead Specialty by 99.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,926 shares of the company's stock worth $72,000 after acquiring an additional 958 shares during the last quarter.

Bowhead Specialty Company 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.

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