Bowhead Specialty (NYSE:BOW) Earns Hold (C) Rating from Weiss Ratings

Key Points

• Bowhead Specialty (NYSE:BOW) has received a "hold (C)" rating from Weiss Ratings, indicating a neutral outlook for the stock.
• Analysts have varying price targets, with Morgan Stanley reducing it from $34 to $31, while others like Keefe, Bruyette & Woods maintain a higher target at $42.
• Shares of Bowhead Specialty recently rose by 3.4%, closing at $26.90, with trading volume significantly above average.

Bowhead Specialty (NYSE:BOW - Get Free Report)'s stock had its "hold (c)" rating reiterated by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

BOW has been the subject of a number of other reports. Morgan Stanley dropped their price target on Bowhead Specialty from $34.00 to $31.00 and set an "equal weight" rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods reduced their price objective on Bowhead Specialty from $45.00 to $42.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Zacks Research raised Bowhead Specialty from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Piper Sandler decreased their target price on shares of Bowhead Specialty from $38.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Bowhead Specialty in a research report on Friday, August 8th. They set a "buy" rating for the company. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $36.00.

Bowhead Specialty Stock Up 3.4%

Shares of BOW stock traded up $0.89 on Wednesday, hitting $26.90. The company had a trading volume of 363,916 shares, compared to its average volume of 260,799. Bowhead Specialty has a twelve month low of $23.70 and a twelve month high of $42.29. The company has a 50-day moving average price of $29.65 and a 200-day moving average price of $34.75. The firm has a market cap of $881.78 million, a P/E ratio of 18.30 and a beta of -0.88.

Bowhead Specialty (NYSE:BOW - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Bowhead Specialty had a return on equity of 13.25% and a net margin of 10.05%.The firm had revenue of $232.36 million during the quarter, compared to analyst estimates of $134.66 million. Equities research analysts expect that Bowhead Specialty will post 1.36 EPS for the current year.

Insider Buying and Selling

In other news, Director Gallatin Point Capital Llc sold 2,000,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $30.66, for a total value of $61,320,000.00. Following the completion of the sale, the director directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew Botein sold 2,000,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 8,968,445 shares of the company's stock, 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BOW. SBI Securities Co. Ltd. acquired a new position in Bowhead Specialty in the 1st quarter valued at $44,000. Raymond James Financial Inc. bought a new position in shares of Bowhead Specialty in the second quarter worth about $52,000. Nemes Rush Group LLC bought a new stake in shares of Bowhead Specialty during the first quarter worth approximately $61,000. Tower Research Capital LLC TRC increased its stake in Bowhead Specialty by 99.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,926 shares of the company's stock valued at $72,000 after purchasing an additional 958 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in Bowhead Specialty by 38.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,575 shares of the company's stock valued at $134,000 after purchasing an additional 989 shares in 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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