Bessemer Group Inc. Takes Position in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Bessemer Group Inc. purchased a new position in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 302,500 shares of the company's stock, valued at approximately $12,297,000. Bessemer Group Inc. owned approximately 0.93% of Bowhead Specialty at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BOW. Summit Investment Advisors Inc. lifted its holdings in shares of Bowhead Specialty by 66.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company's stock worth $43,000 after buying an additional 486 shares in the last quarter. New York State Common Retirement Fund bought a new stake in Bowhead Specialty in the 4th quarter valued at $64,000. US Bancorp DE purchased a new stake in Bowhead Specialty in the 4th quarter worth $76,000. KLP Kapitalforvaltning AS purchased a new stake in Bowhead Specialty in the 4th quarter worth $107,000. Finally, 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 purchasing an additional 3,290 shares during the last quarter.

Analyst Upgrades and Downgrades

BOW has been the topic of several research reports. Morgan Stanley lifted their target price on Bowhead Specialty from $36.00 to $39.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Piper Sandler initiated coverage on Bowhead Specialty in a report on Wednesday, April 16th. They set an "overweight" rating and a $44.00 price target for the company. Keefe, Bruyette & Woods increased their target price on Bowhead Specialty from $43.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. JMP Securities increased their price objective on shares of 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, JPMorgan Chase & Co. boosted their target price on shares of Bowhead Specialty from $30.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Bowhead Specialty presently has an average rating of "Moderate Buy" and a consensus price target of $39.67.

Bowhead Specialty Trading Up 0.7%

Shares of NYSE BOW traded up $0.25 during trading hours on Monday, hitting $37.54. 559,799 shares of the company traded hands, compared to its average volume of 203,894. The company's 50 day moving average price is $37.95 and its 200 day moving average price is $36.07. Bowhead Specialty Holdings Inc. has a 12 month low of $24.41 and a 12 month high of $42.29. The stock has a market capitalization of $1.23 billion and a price-to-earnings ratio of 28.66.

Bowhead Specialty (NYSE:BOW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. Bowhead Specialty had a net margin of 9.32% and a return on equity of 12.52%. The company had revenue of $174.85 million during the quarter, compared to analyst estimates of $105.17 million. Equities analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.36 EPS for the current year.

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.