Ameriprise Financial Inc. Acquires New Position in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Ameriprise Financial Inc. acquired a new position in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 37,226 shares of the company's stock, valued at approximately $1,322,000. Ameriprise Financial Inc. owned approximately 0.11% of Bowhead Specialty at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Summit Investment Advisors Inc. increased its holdings in Bowhead Specialty by 66.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company's stock valued at $43,000 after purchasing an additional 486 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Bowhead Specialty in the fourth quarter worth $64,000. US Bancorp DE bought a new stake in shares of Bowhead Specialty during the fourth quarter worth $76,000. KLP Kapitalforvaltning AS bought a new position in shares of Bowhead Specialty in the fourth quarter valued at about $107,000. Finally, Pictet Asset Management Holding SA bought a new position in shares of Bowhead Specialty in the fourth quarter valued at about $145,000.

Wall Street Analysts Forecast Growth

BOW has been the subject of several research reports. Keefe, Bruyette & Woods raised their price objective on shares of Bowhead Specialty from $43.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. 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 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Bowhead Specialty from $30.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. JMP Securities increased their price objective on Bowhead Specialty from $38.00 to $40.00 and gave the company a "market outperform" rating in a research report on Friday, April 11th. Finally, Morgan Stanley raised their target price on shares of Bowhead Specialty from $36.00 to $39.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Bowhead Specialty presently has a consensus rating of "Moderate Buy" and an average target price of $39.67.

Bowhead Specialty Trading Down 1.8%

Shares of NYSE:BOW traded down $0.69 during trading on Wednesday, hitting $36.76. 177,853 shares of the company's stock traded hands, compared to its average volume of 199,053. The company has a 50-day moving average price of $38.99 and a 200-day moving average price of $36.03. Bowhead Specialty Holdings Inc. has a 52 week low of $23.70 and a 52 week high of $42.29. The company has a market cap of $1.20 billion and a price-to-earnings ratio of 28.06.

Bowhead Specialty (NYSE:BOW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The firm had revenue of $174.85 million for the quarter, compared to analyst estimates of $105.17 million. On average, analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current fiscal 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.