American Family Investments Inc. Acquires New Shares in Bowhead Specialty Holdings Inc. $BOW

Key Points

• American Family Investments acquired 4.7 million Bowhead Specialty shares valued at approximately $140.7 million, giving it an estimated 14.27% ownership stake and making BOW its eighth-largest holding.
• Several other institutional investors increased or initiated positions, including Royal Bank of Canada, Dimensional Fund Advisors, First Trust Advisors, Steelhead Wealth Management, and Empowered Funds.
• Bowhead Specialty reported quarterly EPS of $0.48, slightly above analyst estimates, while shares traded at $33.58. Analysts maintain a consensus “Hold” rating with an average price target of $33.50.

American Family Investments Inc. bought a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,700,761 shares of the company's stock, valued at approximately $140,693,777. Bowhead Specialty accounts for about 0.0% of American Family Investments Inc.'s portfolio, making the stock its 8th largest position. American Family Investments Inc. owned about 14.27% of Bowhead Specialty as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of Bowhead Specialty by 1,796.3% during the 1st quarter. Royal Bank of Canada now owns 39,159 shares of the company's stock valued at $878,000 after acquiring an additional 37,094 shares in the last quarter. Steelhead Wealth Management LLC purchased a new position in shares of Bowhead Specialty during the 1st quarter valued at $2,143,000. Dimensional Fund Advisors LP grew its holdings in shares of Bowhead Specialty by 61.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 256,645 shares of the company's stock valued at $5,756,000 after acquiring an additional 97,494 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Bowhead Specialty during the 1st quarter valued at $1,438,000. Finally, First Trust Advisors LP grew its holdings in shares of Bowhead Specialty by 374.0% during the 1st quarter. First Trust Advisors LP now owns 172,305 shares of the company's stock valued at $3,865,000 after acquiring an additional 135,954 shares in the last quarter.

Bowhead Specialty Stock Down 0.0%

BOW stock opened at $33.58 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.49 and a quick ratio of 0.49. Bowhead Specialty Holdings Inc. has a 52-week low of $21.21 and a 52-week high of $35.07. The company has a 50-day moving average of $31.76 and a two-hundred day moving average of $27.28. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 0.99 and a beta of -0.11.

Bowhead Specialty (NYSE:BOW - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.01. Bowhead Specialty had a net margin of 10.11% and a return on equity of 14.05%. The company had revenue of $163.86 million during the quarter, compared to analysts' expectations of $278.69 million. As a group, equities research analysts anticipate that Bowhead Specialty Holdings Inc. will post 2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BOW shares. Keefe, Bruyette & Woods upped their price objective on shares of Bowhead Specialty from $34.00 to $36.00 and gave the stock an "outperform" rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft cut shares of Bowhead Specialty from a "buy" rating to a "hold" rating and set a $34.00 price objective for the company. in a report on Monday, August 3rd. UBS Group set a $28.00 price objective on shares of Bowhead Specialty in a report on Thursday, May 21st. Weiss Ratings upgraded shares of Bowhead Specialty from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Bowhead Specialty from $30.00 to $33.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Bowhead Specialty presently has a consensus rating of "Hold" and an average target price of $33.50.

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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