Bowhead Specialty (NYSE:BOW) Stock Price Down 4.8% - Should You Sell?

Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report)'s stock price traded down 4.8% on Wednesday . The stock traded as low as $35.34 and last traded at $34.96. 39,362 shares changed hands during trading, a decline of 81% from the average session volume of 202,292 shares. The stock had previously closed at $36.73.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. JMP Securities lifted their price target on shares of Bowhead Specialty from $38.00 to $40.00 and gave the company a "market outperform" rating in a report on Friday, April 11th. JPMorgan Chase & Co. lifted their price target on shares of Bowhead Specialty from $30.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. Morgan Stanley lifted their price target on shares of Bowhead Specialty from $36.00 to $39.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Keefe, Bruyette & Woods boosted their target price 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. Finally, Piper Sandler assumed coverage on shares of Bowhead Specialty in a report on Wednesday, April 16th. They issued an "overweight" rating and a $44.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $39.67.

Bowhead Specialty Stock Down 0.9%

The company has a market cap of $1.15 billion, a PE ratio of 26.83 and a beta of -0.60. The stock's 50 day moving average is $37.57 and its 200-day moving average is $36.06.

Bowhead Specialty (NYSE:BOW - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. The company had revenue of $174.85 million for the quarter, compared to the consensus estimate of $105.17 million. Bowhead Specialty had a net margin of 9.32% and a return on equity of 12.52%. On average, analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Bowhead Specialty

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in Bowhead Specialty by 113.3% during the fourth quarter. Bank of America Corp DE now owns 154,961 shares of the company's stock valued at $5,504,000 after purchasing an additional 82,305 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Bowhead Specialty by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 77,337 shares of the company's stock valued at $2,747,000 after purchasing an additional 12,049 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Bowhead Specialty during the first quarter valued at $3,891,000. Gallatin Point Capital LLC bought a new position in Bowhead Specialty during the fourth quarter valued at $389,599,000. Finally, JPMorgan Chase & Co. increased its position in Bowhead Specialty by 102.4% during the fourth quarter. JPMorgan Chase & Co. now owns 99,813 shares of the company's stock valued at $3,545,000 after acquiring an additional 50,491 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.