MONECO Advisors LLC Makes New $794,000 Investment in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Key Points

• MONECO Advisors LLC has made a new investment of $794,000 in Bowhead Specialty Holdings Inc., acquiring approximately 19,545 shares of the company's stock.
• Bowhead Specialty reported $0.34 earnings per share for its latest quarter, surpassing consensus estimates, and achieved a revenue of $174.85 million, significantly exceeding analyst expectations.
• Various analyst firms have raised their price targets for Bowhead Specialty, with a consensus target of $39.67 and ratings ranging from "hold" to "outperform."

MONECO Advisors LLC purchased a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 19,545 shares of the company's stock, valued at approximately $794,000. MONECO Advisors LLC owned approximately 0.06% of Bowhead Specialty as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Gallatin Point Capital LLC purchased a new position in shares of Bowhead Specialty during the fourth quarter valued at approximately $389,599,000. Wasatch Advisors LP boosted its position in shares of Bowhead Specialty by 125.3% in the 4th quarter. Wasatch Advisors LP now owns 812,901 shares of the company's stock worth $28,874,000 after purchasing an additional 452,033 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Bowhead Specialty by 55.1% in the 4th quarter. Vanguard Group Inc. now owns 647,182 shares of the company's stock worth $22,988,000 after purchasing an additional 230,039 shares in the last quarter. Polar Capital Holdings Plc boosted its position in shares of Bowhead Specialty by 160.3% in the 4th quarter. Polar Capital Holdings Plc now owns 550,000 shares of the company's stock worth $19,536,000 after purchasing an additional 338,738 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Bowhead Specialty by 0.3% in the 4th quarter. Schroder Investment Management Group now owns 365,886 shares of the company's stock worth $12,641,000 after purchasing an additional 1,209 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BOW. JMP Securities upped their price target on shares of Bowhead Specialty from $38.00 to $40.00 and gave the stock a "market outperform" rating in a research note on Friday, April 11th. Piper Sandler began coverage on shares of Bowhead Specialty in a research note on Wednesday, April 16th. They issued an "overweight" rating and a $44.00 price target on the stock. Morgan Stanley upped their price target on shares of Bowhead Specialty from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. upped their price target on shares of Bowhead Specialty from $30.00 to $35.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Bowhead Specialty from $43.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Bowhead Specialty has an average rating of "Moderate Buy" and a consensus target price of $39.67.

Bowhead Specialty Stock Performance

Shares of NYSE BOW traded up $0.57 during midday trading on Monday, hitting $32.49. 159,427 shares of the company's stock traded hands, compared to its average volume of 173,775. Bowhead Specialty Holdings Inc. has a 1 year low of $24.80 and a 1 year high of $42.29. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 24.80 and a beta of -0.69. The firm has a fifty day moving average of $35.16 and a 200 day moving average of $36.06.

Bowhead Specialty (NYSE:BOW - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. Bowhead Specialty had a net margin of 9.32% and a return on equity of 12.52%. The firm had revenue of $174.85 million during the quarter, compared to analyst estimates of $105.17 million. On average, equities analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share 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.