Victory Capital Management Inc. Sells 85,248 Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW)

Victory Capital Management Inc. reduced its stake in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 5.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,422,755 shares of the company's stock after selling 85,248 shares during the period. Victory Capital Management Inc. owned 4.36% of Bowhead Specialty worth $57,835,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Summit Investment Advisors Inc. boosted its position in shares of Bowhead Specialty by 66.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company's stock worth $43,000 after buying an additional 486 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Bowhead Specialty during the first quarter worth approximately $44,000. KLP Kapitalforvaltning AS acquired a new position in shares of Bowhead Specialty during the fourth quarter worth approximately $107,000. GAMMA Investing LLC boosted its position in shares of Bowhead Specialty by 7,651.2% during the first quarter. GAMMA Investing LLC now owns 3,333 shares of the company's stock worth $135,000 after buying an additional 3,290 shares during the period. Finally, Pictet Asset Management Holding SA acquired a new position in shares of Bowhead Specialty during the fourth quarter worth approximately $145,000.

Bowhead Specialty Trading Down 0.7%

NYSE:BOW traded down $0.25 during trading hours on Friday, hitting $33.69. 220,660 shares of the stock traded hands, compared to its average volume of 206,570. The firm has a 50 day moving average price of $36.32 and a 200 day moving average price of $36.02. Bowhead Specialty Holdings Inc. has a fifty-two week low of $24.80 and a fifty-two week high of $42.29. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 25.72 and a beta of -0.60.

Bowhead Specialty (NYSE:BOW - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $174.85 million for the quarter, compared to analysts' expectations of $105.17 million. Bowhead Specialty had a net margin of 9.32% and a return on equity of 12.52%. Research analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 EPS for the current year.

Analyst Ratings Changes

BOW has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on Bowhead Specialty from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Piper Sandler initiated coverage on Bowhead Specialty in a report on Wednesday, April 16th. They set an "overweight" rating and a $44.00 target price on the stock. Morgan Stanley boosted their target price on Bowhead Specialty from $36.00 to $39.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. JMP Securities upped their price target on Bowhead Specialty from $38.00 to $40.00 and gave the company a "market outperform" rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. upped their price target on 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.67.

Bowhead Specialty Company 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.