Bowhead Specialty Holdings Inc. $BOW Shares Purchased by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors LLC increased its stake in Bowhead Specialty Holdings by 42.5% during Q2, holding 48,589 shares worth approximately $1.82 million as of the end of the reporting period.
• Bowhead Specialty reported earnings of $0.37 per share for the last quarter, exceeding analyst expectations of $0.36, with revenues significantly higher at $232.36 million.
• Recent analyst ratings vary, with Morgan Stanley lowering the target price to $34 and Zacks upgrading from "strong sell" to "hold", indicating mixed sentiments about the company's stock.

Knights of Columbus Asset Advisors LLC raised its holdings in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 42.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,589 shares of the company's stock after buying an additional 14,481 shares during the period. Knights of Columbus Asset Advisors LLC owned about 0.15% of Bowhead Specialty worth $1,824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BOW. SBI Securities Co. Ltd. acquired a new position in shares of Bowhead Specialty during the first quarter worth $44,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Bowhead Specialty by 17.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,400 shares of the company's stock worth $301,000 after purchasing an additional 1,100 shares in the last quarter. Jump Financial LLC lifted its position in shares of Bowhead Specialty by 17.1% during the first quarter. Jump Financial LLC now owns 9,050 shares of the company's stock worth $368,000 after purchasing an additional 1,322 shares in the last quarter. Nemes Rush Group LLC acquired a new position in shares of Bowhead Specialty during the first quarter worth $61,000. Finally, SG Americas Securities LLC lifted its position in shares of Bowhead Specialty by 19.9% during the first quarter. SG Americas Securities LLC now owns 11,612 shares of the company's stock worth $472,000 after purchasing an additional 1,931 shares in the last quarter.

Bowhead Specialty Trading Up 4.1%

Shares of NYSE:BOW opened at $26.30 on Tuesday. The company has a fifty day simple moving average of $29.78 and a 200 day simple moving average of $34.82. The firm has a market cap of $862.11 million, a PE ratio of 17.89 and a beta of -0.88. Bowhead Specialty Holdings Inc. has a 12-month low of $23.70 and a 12-month high of $42.29.

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

Insider Buying and Selling at Bowhead Specialty

In other Bowhead Specialty news, Director Gallatin Point Capital Llc sold 2,000,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $30.66, for a total transaction of $61,320,000.00. Following the completion of the sale, the director owned 8,968,445 shares in the company, valued at $274,972,523.70. The trade was a 18.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Botein sold 2,000,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $30.66, for a total transaction of $61,320,000.00. Following the sale, the director owned 8,968,445 shares of the company's stock, valued at approximately $274,972,523.70. The trade was a 18.23% decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of Bowhead Specialty from $37.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. Zacks Research raised shares of Bowhead Specialty from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Keefe, Bruyette & Woods reduced their target price on shares of Bowhead Specialty from $45.00 to $42.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Piper Sandler dropped their price target on shares of Bowhead Specialty from $38.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Bowhead Specialty in a research note on Saturday, September 27th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Bowhead Specialty has an average rating of "Moderate Buy" and an average target price of $36.50.

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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