Trexquant Investment LP Grows Stock Holdings in Bowhead Specialty Holdings Inc. $BOW

Key Points

• Trexquant Investment LP increased its stake in Bowhead Specialty Holdings by 242.6% during the first quarter, owning 39,432 shares valued at approximately $1.6 million.
• Bowhead Specialty's stock rating consensus is a "Moderate Buy" with a target price of $38.33, following recent upgrades and price adjustments from various analysts.
• In a significant insider transaction, Director Matthew Botein and another director each sold 2 million shares at $30.66, reducing their ownership by 18.23%.

Trexquant Investment LP grew its holdings in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 242.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,432 shares of the company's stock after buying an additional 27,923 shares during the quarter. Trexquant Investment LP owned 0.12% of Bowhead Specialty worth $1,603,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in Bowhead Specialty by 0.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 60,963 shares of the company's stock worth $2,165,000 after buying an additional 455 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Bowhead Specialty during the first quarter worth $44,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Bowhead Specialty by 17.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,400 shares of the company's stock worth $301,000 after purchasing an additional 1,100 shares in the last quarter. Jump Financial LLC lifted its position in shares of Bowhead Specialty by 17.1% during the first quarter. Jump Financial LLC now owns 9,050 shares of the company's stock worth $368,000 after purchasing an additional 1,322 shares in the last quarter. Finally, Nemes Rush Group LLC acquired a new position in shares of Bowhead Specialty during the first quarter worth $61,000.

Wall Street Analysts Forecast Growth

BOW has been the topic of a number of recent research reports. Zacks Research raised shares of Bowhead Specialty from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Keefe, Bruyette & Woods reduced their target price on shares of Bowhead Specialty from $45.00 to $42.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Morgan Stanley reduced their target price on shares of Bowhead Specialty from $37.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Bowhead Specialty in a research report on Friday, August 8th. They set a "buy" rating on the stock. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.33.

Bowhead Specialty Stock Performance

Bowhead Specialty stock opened at $31.08 on Friday. The firm's 50-day moving average is $32.59 and its 200-day moving average is $35.78. Bowhead Specialty Holdings Inc. has a 1 year low of $27.07 and a 1 year high of $42.29. The company has a market cap of $1.02 billion, a P/E ratio of 21.14 and a beta of -0.71.

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

Insider Activity

In other news, Director Matthew Botein sold 2,000,000 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $30.66, for a total transaction of $61,320,000.00. Following the completion of the transaction, the director owned 8,968,445 shares in the company, valued at approximately $274,972,523.70. This represents a 18.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gallatin Point Capital Llc sold 2,000,000 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $30.66, for a total transaction of $61,320,000.00. Following the transaction, the director owned 8,968,445 shares of the company's stock, valued at $274,972,523.70. This represents a 18.23% decrease in their position. The disclosure for this sale can be found here.

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.

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