Empowered Funds LLC Acquires Shares of 64,091 Bowhead Specialty Holdings Inc. $BOW

Key Points

• Empowered Funds LLC acquired 64,091 shares of Bowhead Specialty Holdings during the first quarter, representing approximately $1.44 million and a 0.20% stake.
• Analyst sentiment is cautious: Bowhead Specialty has an average “Hold” rating from MarketBeat, with a consensus price target of $33.00, despite some firms maintaining outperform ratings.
• The company reported quarterly EPS of $0.48, slightly above the $0.47 consensus estimate, while shares opened at $33.45 and have traded between $21.21 and $35.07 over the past year.

Empowered Funds LLC acquired a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 64,091 shares of the company's stock, valued at approximately $1,438,000. Empowered Funds LLC owned about 0.20% of Bowhead Specialty at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Langdon Equity Partners acquired a new stake in Bowhead Specialty during the 4th quarter worth about $28,000. Parallel Advisors LLC grew its holdings in Bowhead Specialty by 181.4% during the first quarter. Parallel Advisors LLC now owns 1,652 shares of the company's stock worth $37,000 after acquiring an additional 1,065 shares during the period. CWM LLC raised its position in Bowhead Specialty by 257.7% during the fourth quarter. CWM LLC now owns 1,481 shares of the company's stock valued at $42,000 after acquiring an additional 1,067 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Bowhead Specialty during the second quarter valued at approximately $52,000. Finally, Royal Bank of Canada lifted its holdings in Bowhead Specialty by 45.5% in the fourth quarter. Royal Bank of Canada now owns 2,065 shares of the company's stock valued at $59,000 after acquiring an additional 646 shares during the period.

Wall Street Analyst Weigh In

BOW has been the subject of several recent research reports. Keefe, Bruyette & Woods lifted their target price on shares of Bowhead Specialty from $34.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, July 8th. Citizens Jmp dropped their price target on shares of Bowhead Specialty from $38.00 to $35.00 and set a "market outperform" rating on the stock in a research report on Monday, April 13th. Piper Sandler lowered shares of Bowhead Specialty from an "overweight" rating to a "hold" rating and set a $34.00 target price on the stock. in a research note on Monday. Deutsche Bank Aktiengesellschaft cut Bowhead Specialty from a "buy" rating to a "hold" rating and set a $34.00 target price on the stock. in a research report on Monday. Finally, Morgan Stanley lifted their price target on Bowhead Specialty from $28.00 to $30.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Bowhead Specialty currently has an average rating of "Hold" and a consensus target price of $33.00.

Bowhead Specialty Stock Performance

NYSE:BOW opened at $33.45 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.47 and a current ratio of 0.49. The stock has a market capitalization of $1.10 billion, a PE ratio of 18.08, a P/E/G ratio of 1.02 and a beta of -0.11. Bowhead Specialty Holdings Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $35.07. The company has a fifty day moving average of $29.63 and a two-hundred day moving average of $26.38.

Bowhead Specialty (NYSE:BOW - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The business had revenue of $163.86 million for the quarter, compared to analyst estimates of $278.69 million. Bowhead Specialty had a net margin of 10.11% and a return on equity of 14.05%. As a group, research analysts forecast that Bowhead Specialty Holdings Inc. will post 1.97 earnings per share for the current fiscal year.

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.

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