Goldman Sachs Group Inc. Boosts Stock Position in Bowhead Specialty Holdings Inc. $BOW

Key Points

• Goldman Sachs Group Inc. increased its stake in Bowhead Specialty Holdings by 33.4%, owning approximately 0.37% of the company valued at nearly $4.95 million.
• Multiple institutional investors have also boosted their holdings, with Millennium Management LLC increasing its position by 75.8% and Vanguard Group Inc. growing by 16.2%.
• Analysts have mixed views on Bowhead Specialty, with five giving it a "Buy" rating and a consensus price target of $38.33, while Morgan Stanley and Keefe, Bruyette & Woods adjusted their price targets downward.

Goldman Sachs Group Inc. boosted its stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 33.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,705 shares of the company's stock after purchasing an additional 30,440 shares during the quarter. Goldman Sachs Group Inc. owned about 0.37% of Bowhead Specialty worth $4,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in Bowhead Specialty during the first quarter valued at about $44,000. Nemes Rush Group LLC bought a new stake in Bowhead Specialty during the first quarter valued at about $61,000. GAMMA Investing LLC boosted its position in Bowhead Specialty by 7,651.2% during the first quarter. GAMMA Investing LLC now owns 3,333 shares of the company's stock valued at $135,000 after purchasing an additional 3,290 shares in the last quarter. NewEdge Advisors LLC bought a new stake in Bowhead Specialty during the first quarter valued at about $206,000. Finally, Royal Bank of Canada boosted its position in Bowhead Specialty by 112.7% during the first quarter. Royal Bank of Canada now owns 5,406 shares of the company's stock valued at $219,000 after purchasing an additional 2,864 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their price target on 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 Bowhead Specialty from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Morgan Stanley lowered their price target on Bowhead Specialty from $37.00 to $34.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Bowhead Specialty in a report on Friday, August 8th. They issued a "buy" rating for the company. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $38.33.

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 that occurred on Friday, August 8th. The stock was sold at an average price of $30.66, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gallatin Point Capital Llc sold 2,000,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 8,968,445 shares of the company's stock, 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 Stock Down 2.3%

Shares of Bowhead Specialty stock traded down $0.65 on Friday, reaching $27.70. 1,102,293 shares of the stock were exchanged, compared to its average volume of 284,322. Bowhead Specialty Holdings Inc. has a twelve month low of $27.07 and a twelve month high of $42.29. The firm has a market capitalization of $908.01 million, a price-to-earnings ratio of 18.84 and a beta of -0.71. The business has a 50 day moving average price of $31.29 and a two-hundred day moving average price of $35.50.

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