15,100 Shares in Bowhead Specialty Holdings Inc. $BOW Bought by Strs Ohio

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 bought a new stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,100 shares of the company's stock, valued at approximately $614,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Voleon Capital Management LP increased its holdings in shares of Bowhead Specialty by 25.9% during the first quarter. Voleon Capital Management LP now owns 193,247 shares of the company's stock valued at $7,855,000 after purchasing an additional 39,704 shares during the period. Goldman Sachs Group Inc. grew its position in Bowhead Specialty by 33.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 121,705 shares of the company's stock valued at $4,947,000 after buying an additional 30,440 shares in the last quarter. NewEdge Advisors LLC acquired a new position in Bowhead Specialty during the 1st quarter valued at about $206,000. Millennium Management LLC increased its stake in Bowhead Specialty by 75.8% during the 1st quarter. Millennium Management LLC now owns 250,277 shares of the company's stock valued at $10,174,000 after buying an additional 107,896 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Bowhead Specialty by 42.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,389 shares of the company's stock worth $382,000 after buying an additional 2,802 shares in the last quarter.

Bowhead Specialty Trading Up 0.6%

NYSE BOW traded up $0.16 during trading on Monday, reaching $27.84. 205,577 shares of the company's stock were exchanged, compared to its average volume of 252,694. Bowhead Specialty Holdings Inc. has a fifty-two week low of $27.07 and a fifty-two week high of $42.29. The company's fifty day simple moving average is $31.29 and its 200-day simple moving average is $35.52. The firm has a market capitalization of $912.65 million, a PE ratio of 18.94 and a beta of -0.71.

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

Wall Street Analyst Weigh In

BOW has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Bowhead Specialty from $45.00 to $42.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Morgan Stanley decreased their price target on Bowhead Specialty from $37.00 to $34.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. Zacks Research raised Bowhead Specialty from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Bowhead Specialty in a report on Friday, August 8th. They issued a "buy" rating for the company. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Bowhead Specialty presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.

Insider Buying and Selling at Bowhead Specialty

In other news, Director Gallatin Point Capital Llc sold 2,000,000 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 8,968,445 shares of the company's stock, valued at $274,972,523.70. This trade represents a 18.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Botein sold 2,000,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $30.66, for a total value of $61,320,000.00. Following the completion of 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 position. The disclosure for this sale can be found here.

About Bowhead Specialty

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.