Woodline Partners LP Reduces Holdings in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Woodline Partners LP trimmed its position in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 40.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,611 shares of the company's stock after selling 12,389 shares during the quarter. Woodline Partners LP owned 0.06% of Bowhead Specialty worth $661,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its stake in Bowhead Specialty by 0.8% during the 4th 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. Summit Investment Advisors Inc. increased its stake in 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 buying an additional 486 shares during the period. Sei Investments Co. increased its stake in Bowhead Specialty by 0.8% during the 4th quarter. Sei Investments Co. now owns 94,395 shares of the company's stock worth $3,353,000 after buying an additional 760 shares during the period. Schroder Investment Management Group increased its stake in Bowhead Specialty by 0.3% during the 4th quarter. Schroder Investment Management Group now owns 365,886 shares of the company's stock worth $12,641,000 after buying an additional 1,209 shares during the period. Finally, New York State Common Retirement Fund purchased a new stake in Bowhead Specialty during the 4th quarter worth approximately $64,000.

Bowhead Specialty Price Performance

Shares of BOW traded up $0.13 during midday trading on Friday, reaching $37.29. The stock had a trading volume of 152,033 shares, compared to its average volume of 199,733. Bowhead Specialty Holdings Inc. has a 1-year low of $23.70 and a 1-year high of $42.29. The company's fifty day simple moving average is $39.22 and its two-hundred day simple moving average is $35.97. The company has a market cap of $1.22 billion and a price-to-earnings ratio of 28.47.

Bowhead Specialty (NYSE:BOW - Get Free Report) last announced 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. On average, sell-side analysts forecast that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

BOW has been the topic of several recent research reports. JPMorgan Chase & Co. upped their target price on shares of Bowhead Specialty from $30.00 to $35.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Morgan Stanley upped their target price on shares of Bowhead Specialty from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Piper Sandler started coverage on shares of Bowhead Specialty in a research report on Wednesday, April 16th. They issued an "overweight" rating and a $44.00 price objective on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Bowhead Specialty from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Finally, JMP Securities raised their price objective on shares of Bowhead Specialty from $38.00 to $40.00 and gave the company a "market outperform" rating in a report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.