Point72 Asset Management L.P. Purchases New Shares in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Point72 Asset Management L.P. purchased a new position in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,051 shares of the company's stock, valued at approximately $250,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in Bowhead Specialty by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 77,337 shares of the company's stock valued at $2,747,000 after acquiring an additional 12,049 shares during the last quarter. Gallatin Point Capital LLC purchased a new stake in Bowhead Specialty during the fourth quarter valued at approximately $389,599,000. JPMorgan Chase & Co. lifted its position in Bowhead Specialty by 102.4% during the fourth quarter. JPMorgan Chase & Co. now owns 99,813 shares of the company's stock valued at $3,545,000 after acquiring an additional 50,491 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Bowhead Specialty during the fourth quarter valued at approximately $583,000. Finally, Bank of New York Mellon Corp lifted its position in Bowhead Specialty by 180.6% during the fourth quarter. Bank of New York Mellon Corp now owns 29,550 shares of the company's stock valued at $1,050,000 after acquiring an additional 19,018 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Bowhead Specialty

In other Bowhead Specialty news, Director Ava Schnidman acquired 1,493 shares of the business's stock in a transaction dated Friday, February 28th. The shares were purchased at an average price 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 of the company's stock, valued at $63,245.13. The trade was 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 accessible through this link.

Bowhead Specialty Stock Up 0.6%

Shares of NYSE:BOW traded up $0.21 during midday trading on Thursday, reaching $36.71. The company's stock had a trading volume of 27,684 shares, compared to its average volume of 199,799. The firm has a market capitalization of $1.20 billion and a PE ratio of 28.02. Bowhead Specialty Holdings Inc. has a twelve month low of $23.70 and a twelve month high of $42.29. The stock has a fifty day moving average of $39.34 and a 200 day moving average of $35.90.

Bowhead Specialty (NYSE:BOW - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The business had revenue of $174.85 million during the quarter, compared to analyst estimates of $105.17 million. Sell-side analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

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.