Citadel Advisors LLC Invests $1.45 Million in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Citadel Advisors LLC bought a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 40,833 shares of the company's stock, valued at approximately $1,450,000. Citadel Advisors LLC owned 0.13% of Bowhead Specialty as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Summit Investment Advisors Inc. raised its stake in Bowhead Specialty by 66.4% in the fourth 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 in the last quarter. New York State Common Retirement Fund acquired a new position in Bowhead Specialty in the fourth quarter valued at about $64,000. US Bancorp DE acquired a new position in Bowhead Specialty in the fourth quarter valued at about $76,000. KLP Kapitalforvaltning AS acquired a new position in Bowhead Specialty in the fourth quarter valued at about $107,000. Finally, Pictet Asset Management Holding SA acquired a new position in Bowhead Specialty during the fourth quarter worth about $145,000.

Wall Street Analysts Forecast Growth

BOW has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their target price on shares of Bowhead Specialty from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Piper Sandler initiated coverage on shares of Bowhead Specialty in a report on Wednesday, April 16th. They issued an "overweight" rating and a $44.00 target price for the company. JMP Securities increased their target price 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. Morgan Stanley increased their target price on shares of Bowhead Specialty from $36.00 to $39.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. increased 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Bowhead Specialty has a consensus rating of "Moderate Buy" and a consensus target price of $39.67.

Bowhead Specialty Price Performance

NYSE BOW traded down $0.88 during trading hours on Wednesday, reaching $36.52. The company's stock had a trading volume of 144,762 shares, compared to its average volume of 201,883. The stock has a market cap of $1.19 billion and a P/E ratio of 27.88. The firm has a fifty day simple moving average of $39.37 and a 200-day simple moving average of $35.89. Bowhead Specialty Holdings Inc. has a 52 week low of $23.70 and a 52 week high of $42.29.

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

Insider Buying and Selling at Bowhead Specialty

In other news, Director Ava Schnidman bought 1,493 shares of the firm's stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $33.41 per share, with a total value of $49,881.13. Following the transaction, the director now owns 1,893 shares of the company's stock, valued at $63,245.13. This trade represents a 373.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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.