Deutsche Bank AG Boosts Stock Holdings in Bowhead Specialty Holdings Inc. $BOW

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

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

Analyst Ratings Changes

A number of research analysts have commented on BOW shares. Zacks Research upgraded shares of Bowhead Specialty from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. 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. Morgan Stanley reduced their price objective on shares of 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Bowhead Specialty in a research report on Friday, August 8th. They set a "buy" rating on the stock. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $38.33.

Bowhead Specialty Price Performance

BOW stock traded up $0.01 during trading on Friday, reaching $31.08. 210,284 shares of the company were exchanged, compared to its average volume of 400,860. The company has a 50-day moving average of $33.15 and a two-hundred day moving average of $35.81. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 20.58 and a beta of -0.69. Bowhead Specialty Holdings Inc. has a twelve month low of $27.07 and a twelve month high of $42.29.

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

Insiders Place Their Bets

In other Bowhead Specialty news, Director Gallatin Point Capital Llc sold 2,000,000 shares of the firm'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 directly owned 8,968,445 shares of the company's stock, valued at approximately $274,972,523.70. This trade represents a 18.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Botein sold 2,000,000 shares of the firm'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 transaction, the director directly 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 disclosure for this sale can be found here.

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.