Bowhead Specialty Holdings Inc. $BOW Shares Bought by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in Bowhead Specialty Holdings Inc. by 131.1% during the 1st quarter, now holding shares valued at $616,000.
• In a recent earnings report, Bowhead Specialty surpassed analysts' expectations with $232.36 million in revenue and earnings per share of $0.37.
• Several hedge funds have significantly raised their positions in Bowhead Specialty, with Barclays PLC increasing their stake by 241.5%, now valued at $2.07 million.

Deutsche Bank AG increased its holdings in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 131.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,158 shares of the company's stock after buying an additional 8,598 shares during the period. Deutsche Bank AG's holdings in Bowhead Specialty were worth $616,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in Bowhead Specialty by 113.6% during the fourth quarter. Wells Fargo & Company MN now owns 6,465 shares of the company's stock worth $230,000 after acquiring an additional 3,438 shares during the last quarter. Legal & General Group Plc raised its position in shares of Bowhead Specialty by 66.8% during the 4th quarter. Legal & General Group Plc now owns 11,243 shares of the company's stock worth $399,000 after purchasing an additional 4,501 shares during the last quarter. Barclays PLC lifted its stake in Bowhead Specialty by 241.5% in the 4th quarter. Barclays PLC now owns 58,343 shares of the company's stock valued at $2,071,000 after buying an additional 41,261 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Bowhead Specialty by 64.8% during the 4th quarter. MetLife Investment Management LLC now owns 7,264 shares of the company's stock valued at $258,000 after buying an additional 2,855 shares during the last quarter. Finally, State of Tennessee Department of Treasury purchased a new position in Bowhead Specialty during the fourth quarter worth $199,000.

Bowhead Specialty Trading Up 0.0%

Shares of BOW traded up $0.01 during midday trading on Monday, reaching $31.08. 210,284 shares of the company were exchanged, compared to its average volume of 404,835. Bowhead Specialty Holdings Inc. has a 1-year low of $27.07 and a 1-year high of $42.29. The stock has a 50-day moving average price of $33.02 and a 200-day moving average price of $35.85. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 21.14 and a beta of -0.70.

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

Insider Buying and Selling

In other Bowhead Specialty news, 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 value of $61,320,000.00. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gallatin Point Capital Llc sold 2,000,000 shares of the company's stock in a transaction dated 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 transaction, the director directly 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 ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

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

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.