Bowhead Specialty Holdings Inc. (NYSE:BOW) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 30.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 218,642 shares of the company's stock after buying an additional 51,209 shares during the period. Geode Capital Management LLC owned 0.67% of Bowhead Specialty worth $7,768,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in Bowhead Specialty by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 77,337 shares of the company's stock valued at $2,747,000 after purchasing an additional 12,049 shares during the last quarter. Barclays PLC purchased a new stake in shares of Bowhead Specialty in the third quarter worth about $479,000. JPMorgan Chase & Co. grew its holdings in Bowhead Specialty by 102.4% during the fourth quarter. JPMorgan Chase & Co. now owns 99,813 shares of the company's stock worth $3,545,000 after acquiring an additional 50,491 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Bowhead Specialty during the fourth quarter worth about $583,000. Finally, Bank of New York Mellon Corp raised 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 in the last quarter.

Bowhead Specialty Price Performance

BOW stock traded down $0.63 during midday trading on Wednesday, hitting $40.23. 243,760 shares of the company's stock were exchanged, compared to its average volume of 213,855. Bowhead Specialty Holdings Inc. has a 1-year low of $22.14 and a 1-year high of $42.29. The business has a 50-day simple moving average of $37.58 and a two-hundred day simple moving average of $34.70.

Bowhead Specialty (NYSE:BOW - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.07. The firm had revenue of $184.77 million during the quarter, compared to analyst estimates of $102.12 million. As a group, research analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

BOW has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Bowhead Specialty from $30.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Keefe, Bruyette & Woods decreased their target price on Bowhead Specialty from $44.00 to $43.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Piper Sandler started coverage on shares of Bowhead Specialty in a research note on Wednesday, April 16th. They issued an "overweight" rating and a $44.00 price target on the stock. Finally, JMP Securities increased their target price on Bowhead Specialty from $38.00 to $40.00 and gave the company a "market outperform" rating in a report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Bowhead Specialty has a consensus rating of "Moderate Buy" and an average price target of $37.17.

Insider Buying and Selling

In related news, Director Ava Schnidman acquired 1,493 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $33.41 per share, with a total value of $49,881.13. Following the completion of the transaction, the director now owns 1,893 shares in the company, valued at $63,245.13. This represents a 373.25 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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.