Northern Trust Corp Grows Stock Position in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Northern Trust Corp increased its stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 61.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,285 shares of the company's stock after buying an additional 36,536 shares during the quarter. Northern Trust Corp owned about 0.29% of Bowhead Specialty worth $3,420,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BOW. Summit Investment Advisors Inc. raised its holdings in shares of Bowhead Specialty by 66.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company's stock worth $43,000 after acquiring an additional 486 shares during the period. New York State Common Retirement Fund acquired a new stake in Bowhead Specialty during the fourth quarter worth about $64,000. US Bancorp DE acquired a new stake in Bowhead Specialty during the fourth quarter worth about $76,000. KLP Kapitalforvaltning AS purchased a new position in Bowhead Specialty during the fourth quarter worth about $107,000. Finally, Pictet Asset Management Holding SA acquired a new position in Bowhead Specialty in the 4th quarter valued at about $145,000.

Bowhead Specialty Stock Performance

Shares of BOW traded up $0.67 during mid-day trading on Thursday, hitting $37.17. 165,821 shares of the company's stock were exchanged, compared to its average volume of 199,923. The company has a market cap of $1.21 billion and a price-to-earnings ratio of 28.37. The stock's 50-day moving average is $39.30 and its 200-day moving average is $35.93. Bowhead Specialty Holdings Inc. has a fifty-two week low of $23.70 and a fifty-two week high of $42.29.

Bowhead Specialty (NYSE:BOW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. The firm had revenue of $174.85 million during the quarter, compared to analysts' expectations of $105.17 million. As a group, equities research analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.36 EPS for the current year.

Insider Transactions at Bowhead Specialty

In other Bowhead Specialty news, Director Ava Schnidman purchased 1,493 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $33.41 per share, for a total transaction of $49,881.13. Following the completion of the purchase, the director now directly owns 1,893 shares in the company, valued at $63,245.13. This represents a 373.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Piper Sandler assumed coverage on shares of Bowhead Specialty in a report on Wednesday, April 16th. They set an "overweight" rating and a $44.00 price target for the company. Keefe, Bruyette & Woods increased their price objective on Bowhead Specialty from $43.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. JMP Securities lifted their target price on Bowhead Specialty from $38.00 to $40.00 and gave the company a "market outperform" rating in a research report on Friday, April 11th. Morgan Stanley increased their price target on Bowhead Specialty from $36.00 to $39.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. boosted their price objective 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 analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $39.67.

About Bowhead Specialty

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.