Triasima Portfolio Management inc. Makes New Investment in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Triasima Portfolio Management inc. bought a new position in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 19,875 shares of the company's stock, valued at approximately $808,000. Triasima Portfolio Management inc. owned 0.06% of Bowhead Specialty as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BOW. Gallatin Point Capital LLC purchased a new position in shares of Bowhead Specialty during the 4th quarter worth 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. 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. Bessemer Group Inc. bought a new stake in shares of Bowhead Specialty in the 1st quarter worth approximately $12,297,000. Finally, Balyasny Asset Management L.P. boosted its position in shares of Bowhead Specialty by 274.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 314,684 shares of the company's stock worth $11,178,000 after purchasing an additional 230,722 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently commented on BOW shares. Piper Sandler started coverage on Bowhead Specialty in a research report on Wednesday, April 16th. They issued an "overweight" rating and a $44.00 price target on the stock. JMP Securities upped their price objective on Bowhead Specialty from $38.00 to $40.00 and gave the stock a "market outperform" rating in a research note on Friday, April 11th. Morgan Stanley upped their price objective on 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. increased their price target on 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 increased their price target on Bowhead Specialty from $43.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $39.67.

Bowhead Specialty Price Performance

Shares of Bowhead Specialty stock traded up $0.26 during trading on Thursday, reaching $34.02. 107,136 shares of the stock traded hands, compared to its average volume of 205,239. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 25.97 and a beta of -0.60. The business has a fifty day simple moving average of $36.53 and a two-hundred day simple moving average of $36.03. Bowhead Specialty Holdings Inc. has a 52-week low of $24.80 and a 52-week high of $42.29.

Bowhead Specialty (NYSE:BOW - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 earnings per share 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 analyst estimates of $105.17 million. Bowhead Specialty had a return on equity of 12.52% and a net margin of 9.32%. On average, research analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

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.