Millennium Management LLC Has $5.06 Million Position in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Millennium Management LLC lifted its position in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 172.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 142,381 shares of the company's stock after buying an additional 90,035 shares during the quarter. Millennium Management LLC owned about 0.44% of Bowhead Specialty worth $5,057,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position in Bowhead Specialty by 0.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 60,963 shares of the company's stock worth $2,165,000 after acquiring an additional 455 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Bowhead Specialty by 66.4% in 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 during the last quarter. Sei Investments Co. increased its position in Bowhead Specialty by 0.8% during the fourth quarter. Sei Investments Co. now owns 94,395 shares of the company's stock worth $3,353,000 after buying an additional 760 shares during the last quarter. Schroder Investment Management Group increased its position in Bowhead Specialty by 0.3% during the fourth quarter. Schroder Investment Management Group now owns 365,886 shares of the company's stock worth $12,641,000 after buying an additional 1,209 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Bowhead Specialty in the fourth quarter worth about $64,000.

Bowhead Specialty Price Performance

Shares of Bowhead Specialty stock traded up $0.13 during midday trading on Friday, hitting $37.29. The company had a trading volume of 152,033 shares, compared to its average volume of 199,733. Bowhead Specialty Holdings Inc. has a 1-year low of $23.70 and a 1-year high of $42.29. The business's 50 day simple moving average is $39.22 and its two-hundred day simple moving average is $35.97. The stock has a market cap of $1.22 billion and a PE ratio of 28.47.

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

Analysts Set New Price Targets

BOW has been the topic of a number of recent analyst reports. Morgan Stanley raised their price objective on Bowhead Specialty from $36.00 to $39.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods increased their price target on Bowhead Specialty from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Piper Sandler began coverage on shares of Bowhead Specialty in a research report on Wednesday, April 16th. They issued an "overweight" rating and a $44.00 price target on the stock. JMP Securities upped their price objective on shares of Bowhead Specialty from $38.00 to $40.00 and gave the stock a "market outperform" rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. lifted 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $39.67.

Bowhead Specialty 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.