Citizens Jmp Lowers Bowhead Specialty (NYSE:BOW) Price Target to $35.00

Key Points

• Citizens Jmp cut its price target on Bowhead Specialty (NYSE:BOW) from $38.00 to $35.00 while keeping a "market outperform" rating, implying roughly a 45.4% upside from the current share price.
• Analyst sentiment is mixed but the consensus is a "Moderate Buy" with an average target of $31.83, as some firms trimmed targets (e.g., Morgan Stanley, RBC) while others upgraded coverage (e.g., Keefe, Bruyette & Woods).

Bowhead Specialty (NYSE:BOW - Get Free Report) had its target price reduced by investment analysts at Citizens Jmp from $38.00 to $35.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. Citizens Jmp's price target suggests a potential upside of 45.41% from the stock's current price.

A number of other research firms have also recently commented on BOW. Royal Bank Of Canada decreased their price target on Bowhead Specialty from $33.00 to $30.00 and set an "outperform" rating for the company in a research note on Wednesday, February 25th. Weiss Ratings restated a "hold (c-)" rating on shares of Bowhead Specialty in a research note on Friday, March 27th. Zacks Research upgraded Bowhead Specialty from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 24th. Morgan Stanley reduced their price objective on Bowhead Specialty from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Monday, April 6th. Finally, Keefe, Bruyette & Woods upgraded Bowhead Specialty from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.83.

Bowhead Specialty Trading Up 0.8%

Bowhead Specialty stock opened at $24.07 on Monday. The stock has a 50-day moving average of $23.68 and a two-hundred day moving average of $25.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.52. Bowhead Specialty has a one year low of $21.21 and a one year high of $41.98. The stock has a market cap of $790.46 million, a PE ratio of 15.14, a price-to-earnings-growth ratio of 0.72 and a beta of -0.49.

Bowhead Specialty (NYSE:BOW - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.02. Bowhead Specialty had a return on equity of 13.27% and a net margin of 9.75%.The company had revenue of $151.68 million during the quarter, compared to analysts' expectations of $145.99 million. On average, research analysts anticipate that Bowhead Specialty will post 1.36 EPS for the current fiscal year.

Institutional Trading of Bowhead Specialty

Large investors have recently made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of Bowhead Specialty by 112.7% in the 1st quarter. Royal Bank of Canada now owns 5,406 shares of the company's stock valued at $219,000 after purchasing an additional 2,864 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Bowhead Specialty during the 1st quarter worth approximately $430,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Bowhead Specialty by 42.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,389 shares of the company's stock valued at $382,000 after purchasing an additional 2,802 shares in the last quarter. Millennium Management LLC increased its stake in Bowhead Specialty by 75.8% in the 1st quarter. Millennium Management LLC now owns 250,277 shares of the company's stock valued at $10,174,000 after purchasing an additional 107,896 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new position in Bowhead Specialty in the 1st quarter valued at approximately $206,000.

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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