Keefe, Bruyette & Woods Has Lowered Expectations for Bowhead Specialty (NYSE:BOW) Stock Price

Key Points

• Keefe, Bruyette & Woods has lowered the price target for Bowhead Specialty (NYSE:BOW) from $45.00 to $42.00, while maintaining an "outperform" rating, suggesting a potential upside of 32.90% from the current price.
• Bowhead Specialty reported $0.37 EPS for the last quarter, exceeding analyst expectations, with revenue significantly outpacing estimates at $232.36 million.
• Recent insider activity includes Director Matthew Botein selling 2 million shares valued at $61.32 million, reducing his ownership by 18.23%.

Bowhead Specialty (NYSE:BOW - Free Report) had its target price trimmed by Keefe, Bruyette & Woods from $45.00 to $42.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley upped their target price on Bowhead Specialty from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Deutsche Bank Aktiengesellschaft started coverage on Bowhead Specialty in a research report on Friday, August 8th. They set a "buy" rating for the company. Finally, Piper Sandler started coverage on Bowhead Specialty in a research report on Wednesday, April 16th. They set an "overweight" rating and a $44.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $39.17.

Bowhead Specialty Stock Down 1.7%

BOW traded down $0.54 during trading on Tuesday, reaching $30.70. The stock had a trading volume of 311,696 shares, compared to its average volume of 311,204. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 20.88 and a beta of -0.69. Bowhead Specialty has a 1-year low of $26.70 and a 1-year high of $42.29. The stock has a 50 day moving average of $34.25 and a two-hundred day moving average of $35.96.

Bowhead Specialty (NYSE:BOW - Get Free Report) last released 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. The firm had revenue of $232.36 million during the quarter, compared to the consensus estimate of $134.66 million. Bowhead Specialty had a return on equity of 13.25% and a net margin of 10.05%. On average, research analysts forecast that Bowhead Specialty will post 1.36 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Bowhead Specialty

Large investors have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. raised its stake in 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 purchasing an additional 486 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Bowhead Specialty during the 1st quarter valued at $44,000. Raymond James Financial Inc. acquired a new stake in Bowhead Specialty during the 2nd quarter valued at $52,000. Nemes Rush Group LLC acquired a new stake in Bowhead Specialty during the 1st quarter valued at $61,000. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in Bowhead Specialty by 38.2% during the 2nd 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 during the period.

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.