Citadel Advisors LLC Acquires New Shares in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Citadel Advisors LLC acquired a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 40,833 shares of the company's stock, valued at approximately $1,450,000. Citadel Advisors LLC owned 0.13% of Bowhead Specialty at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Bowhead Specialty by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 77,337 shares of the company's stock worth $2,747,000 after purchasing an additional 12,049 shares in the last quarter. Gallatin Point Capital LLC acquired a new stake in shares of Bowhead Specialty in the fourth quarter valued at about $389,599,000. JPMorgan Chase & Co. grew its stake in Bowhead Specialty by 102.4% during the fourth quarter. JPMorgan Chase & Co. now owns 99,813 shares of the company's stock worth $3,545,000 after purchasing an additional 50,491 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Bowhead Specialty during the fourth quarter worth approximately $583,000. Finally, Bank of New York Mellon Corp grew its stake in Bowhead Specialty by 180.6% in the fourth quarter. Bank of New York Mellon Corp now owns 29,550 shares of the company's stock valued at $1,050,000 after acquiring an additional 19,018 shares during the period.

Bowhead Specialty Price Performance

Shares of Bowhead Specialty stock traded down $0.02 during trading on Friday, hitting $37.14. 12,446 shares of the stock were exchanged, compared to its average volume of 199,179. The firm's 50-day moving average price is $39.30 and its 200 day moving average price is $35.93. Bowhead Specialty Holdings Inc. has a 12-month low of $23.70 and a 12-month high of $42.29. The stock has a market cap of $1.21 billion and a price-to-earnings ratio of 28.35.

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

Analyst Upgrades and Downgrades

BOW has been the topic of several research reports. Morgan Stanley boosted their target price 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. JPMorgan Chase & Co. increased their target price on Bowhead Specialty from $30.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. 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 note on Friday, May 9th. JMP Securities raised their target price on Bowhead Specialty from $38.00 to $40.00 and gave the stock a "market outperform" rating in a report on Friday, April 11th. Finally, Piper Sandler began coverage on Bowhead Specialty in a research report on Wednesday, April 16th. They set an "overweight" rating and a $44.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $39.67.

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.