Bank of America Corp DE cut its stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 56.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 56,893 shares of the company's stock after selling 74,322 shares during the quarter. Bank of America Corp DE owned approximately 0.17% of Bowhead Specialty worth $1,276,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BOW. Royal Bank of Canada grew its holdings in shares of Bowhead Specialty by 1,796.3% during the first quarter. Royal Bank of Canada now owns 39,159 shares of the company's stock worth $878,000 after buying an additional 37,094 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Bowhead Specialty by 61.3% in 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 during the last quarter. Empowered Funds LLC purchased a new position in shares of Bowhead Specialty during the 1st quarter worth about $1,438,000. First Trust Advisors LP grew its position in Bowhead Specialty by 374.0% during the first 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 during the period. Finally, Bleakley Financial Group LLC acquired a new position in shares of Bowhead Specialty in the 4th quarter valued at about $1,086,000.
Analyst Ratings Changes
A number of equities analysts have commented on BOW shares. JPMorgan Chase & Co. boosted 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. Keefe, Bruyette & Woods raised their price objective on Bowhead Specialty from $34.00 to $36.00 and gave the company an "outperform" rating in a research note on Wednesday, July 8th. Piper Sandler cut Bowhead Specialty from an "overweight" rating to a "hold" rating and set a $34.00 price objective on the stock. in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft lowered Bowhead Specialty from a "buy" rating to a "hold" rating and set a $34.00 target price on the stock. in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada downgraded Bowhead Specialty from an "outperform" rating to a "sector perform" rating and cut their target price for the company from $38.00 to $34.00 in a research note on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $33.50.
Check Out Our Latest Research Report on Bowhead Specialty
Bowhead Specialty Price Performance
NYSE BOW opened at $33.65 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $1.11 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 0.99 and a beta of -0.08. The company has a 50 day moving average price of $32.26 and a two-hundred day moving average price of $27.60. Bowhead Specialty Holdings Inc. has a 12-month low of $21.21 and a 12-month high of $35.07.
Bowhead Specialty (NYSE:BOW - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. Bowhead Specialty had a net margin of 10.11% and a return on equity of 14.05%. The business had revenue of $163.86 million during the quarter, compared to analyst estimates of $278.69 million. As a group, equities analysts predict that Bowhead Specialty Holdings Inc. will post 2 earnings per share for the current fiscal year.
About Bowhead Specialty
(
Free Report)
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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