Strs Ohio Buys New Holdings in Bowhead Specialty Holdings Inc. $BOW

Key Points

• Strs Ohio has acquired a new stake in Bowhead Specialty Holdings Inc. by purchasing 15,100 shares valued at approximately $614,000 during the first quarter.
• Several hedge funds have adjusted their holdings in Bowhead Specialty, with Zurcher Kantonalbank increasing its position by 17.5% and owning 7,400 shares worth $301,000.
• Bowhead Specialty recently reported earnings of $0.37 EPS for the quarter, exceeding analysts' estimates of $0.36, along with revenues of $232.36 million.

Strs Ohio purchased a new stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 15,100 shares of the company's stock, valued at approximately $614,000.

A number of other institutional investors have also recently made changes to their positions in BOW. SBI Securities Co. Ltd. purchased a new stake in shares of Bowhead Specialty during the 1st quarter valued at about $44,000. Nemes Rush Group LLC purchased a new stake in shares of Bowhead Specialty during the 1st quarter valued at about $61,000. GAMMA Investing LLC boosted its holdings in shares of Bowhead Specialty by 7,651.2% during the 1st quarter. GAMMA Investing LLC now owns 3,333 shares of the company's stock valued at $135,000 after acquiring an additional 3,290 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Bowhead Specialty during the 1st quarter valued at about $206,000. Finally, Royal Bank of Canada boosted its holdings in shares of Bowhead Specialty by 112.7% in the first quarter. Royal Bank of Canada now owns 5,406 shares of the company's stock worth $219,000 after buying an additional 2,864 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BOW. Zacks Research raised shares of Bowhead Specialty from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Deutsche Bank Aktiengesellschaft began coverage on shares of Bowhead Specialty in a report on Friday, August 8th. They issued a "buy" rating on the stock. Morgan Stanley dropped their price objective on shares of Bowhead Specialty from $37.00 to $34.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Bowhead Specialty from $45.00 to $42.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $38.33.

Insider Transactions at Bowhead Specialty

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

Bowhead Specialty Stock Down 0.4%

NYSE:BOW traded down $0.12 during mid-day trading on Tuesday, reaching $27.68. The company's stock had a trading volume of 50,601 shares, compared to its average volume of 251,543. Bowhead Specialty Holdings Inc. has a 1 year low of $27.07 and a 1 year high of $42.29. The stock has a fifty day moving average of $31.17 and a 200-day moving average of $35.48. The firm has a market capitalization of $907.19 million, a PE ratio of 18.82 and a beta of -0.70.

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, topping analysts' consensus estimates of $0.36 by $0.01. The business had revenue of $232.36 million during the quarter, compared to the consensus estimate of $134.66 million. Bowhead Specialty had a net margin of 10.05% and a return on equity of 13.25%. On average, analysts expect that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

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.