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 shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 19,545 shares of the company's stock, valued at approximately $794,000. MONECO Advisors LLC owned 0.06% of Bowhead Specialty as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in shares of Bowhead Specialty by 113.3% during the fourth quarter. Bank of America Corp DE now owns 154,961 shares of the company's stock worth $5,504,000 after buying an additional 82,305 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Bowhead Specialty in the 1st quarter valued at $3,891,000. Gallatin Point Capital LLC purchased a new stake in shares of Bowhead Specialty during the fourth quarter worth approximately $389,599,000. JPMorgan Chase & Co. grew its position in shares of Bowhead Specialty by 102.4% in the fourth quarter. JPMorgan Chase & Co. now owns 99,813 shares of the company's stock valued at $3,545,000 after purchasing an additional 50,491 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Bowhead Specialty during the 4th quarter worth $284,000.

Bowhead Specialty Price Performance

BOW traded up $0.92 on Wednesday, reaching $32.07. 285,835 shares of the company traded hands, compared to its average volume of 223,990. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 24.48 and a beta of -0.69. The stock's 50 day moving average price is $35.04 and its 200-day moving average price is $36.03. Bowhead Specialty Holdings Inc. has a 52-week low of $26.56 and a 52-week high of $42.29.

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 for the quarter, compared to analyst estimates of $134.66 million. Bowhead Specialty had a net margin of 9.32% and a return on equity of 12.52%. As a group, equities research analysts forecast that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. JMP Securities increased 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 report on Friday, April 11th. Piper Sandler started coverage on shares of Bowhead Specialty in a research report on Wednesday, April 16th. They issued an "overweight" rating and a $44.00 price objective for the company. Morgan Stanley upped their target price on Bowhead Specialty from $36.00 to $39.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Keefe, Bruyette & Woods upped their target price on Bowhead Specialty from $43.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Bowhead Specialty from $30.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $39.67.

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.