Vanguard Group Inc. Raises Holdings in Bowhead Specialty Holdings Inc. $BOW

Key Points

• Vanguard Group Inc. has increased its holdings in Bowhead Specialty Holdings Inc. by 16.2%, owning a total of 752,320 shares worth approximately $30.58 million as of its recent filing.
• The company reported earnings of $0.37 per share for the last quarter, exceeding analysts' expectations of $0.36, with a revenue of $232.36 million.
• Bowhead Specialty's stock currently has an average rating of "Moderate Buy" with an average target price of $38.33, according to analysts.

Vanguard Group Inc. grew its position in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 16.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 752,320 shares of the company's stock after acquiring an additional 105,138 shares during the quarter. Vanguard Group Inc. owned about 2.30% of Bowhead Specialty worth $30,582,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MONECO Advisors LLC bought a new position in shares of Bowhead Specialty during the 1st quarter valued at approximately $794,000. Nemes Rush Group LLC bought a new position in shares of Bowhead Specialty during the 1st quarter valued at approximately $61,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Bowhead Specialty by 17.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,400 shares of the company's stock worth $301,000 after buying an additional 1,100 shares during the last quarter. Knights of Columbus Asset Advisors LLC bought a new stake in Bowhead Specialty in the first quarter worth $1,386,000. Finally, Triasima Portfolio Management inc. bought a new stake in Bowhead Specialty in the first quarter worth $808,000.

Analyst Ratings Changes

A number of brokerages recently issued reports on BOW. Deutsche Bank Aktiengesellschaft began coverage on Bowhead Specialty in a research report on Friday, August 8th. They issued a "buy" rating for the company. Keefe, Bruyette & Woods lowered their price target on Bowhead Specialty from $45.00 to $42.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Zacks Research upgraded Bowhead Specialty from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Finally, Morgan Stanley lowered their price target on Bowhead Specialty from $37.00 to $34.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $38.33.

Insider Activity at Bowhead Specialty

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

Bowhead Specialty Stock Up 0.9%

Shares of Bowhead Specialty stock traded up $0.28 on Tuesday, reaching $31.34. 256,968 shares of the stock were exchanged, compared to its average volume of 396,861. The business has a 50 day moving average price of $32.91 and a two-hundred day moving average price of $35.82. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 21.32 and a beta of -0.71. Bowhead Specialty Holdings Inc. has a twelve month low of $27.07 and a twelve month high of $42.29.

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