Bowhead Specialty (NYSE:BOW) Trading at $33.98

Key Points

• Bowhead Specialty shares traded nearly flat at $33.98, with volume down 36% from the average. The stock remains above its 200-day moving average of $29.64 and has a market capitalization of approximately $1.12 billion.
• Analyst sentiment is broadly neutral: nine analysts rate the stock Hold and one rates it Buy, producing an average rating of Hold and an average price target of $33.50. Recent targets range from $33 to $36, while Piper Sandler downgraded the shares to Hold.
• The company slightly exceeded quarterly EPS expectations, reporting $0.48 versus the $0.47 consensus, alongside a 14.05% return on equity and 10.11% net margin. Institutional investors, including Wasatch Advisors, also increased their positions during the second quarter.

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) traded down 0% during trading on Wednesday. The stock traded as low as $33.97 and last traded at $33.9850. Approximately 168,707 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 264,792 shares. The stock had previously closed at $34.00.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BOW. Piper Sandler downgraded shares of Bowhead Specialty from an "overweight" rating to a "hold" rating and set a $34.00 target price for the company. in a research report on Monday, August 3rd. JPMorgan Chase & Co. raised their price target on shares of Bowhead Specialty from $30.00 to $33.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Morgan Stanley lifted their price target on shares of Bowhead Specialty from $30.00 to $34.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 19th. Weiss Ratings upgraded Bowhead Specialty from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, August 19th. Finally, Keefe, Bruyette & Woods upped their price objective on Bowhead Specialty from $34.00 to $36.00 and gave the company an "outperform" rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $33.50.

Bowhead Specialty Price Performance

The firm has a 50 day moving average price of $33.70 and a two-hundred day moving average price of $29.64. The company has a market cap of $1.12 billion, a P/E ratio of 18.37, a P/E/G ratio of 1.00 and a beta of -0.07. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.49 and a current ratio of 0.49.

Bowhead Specialty (NYSE:BOW - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.01. Bowhead Specialty had a return on equity of 14.05% and a net margin of 10.11%. The business had revenue of $163.86 million for the quarter, compared to analysts' expectations of $278.69 million. On average, analysts predict that Bowhead Specialty Holdings Inc. will post 2.00 EPS for the current fiscal year.

Hedge Funds Weigh In On Bowhead Specialty

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new position in Bowhead Specialty in the 2nd quarter valued at approximately $35,000. American Family Investments Inc. bought a new stake in Bowhead Specialty during the 2nd quarter valued at $140,693,777. Bank of New York Mellon Corp bought a new stake in Bowhead Specialty during the 2nd quarter valued at $1,607,000. Wasatch Advisors LP lifted its position in shares of Bowhead Specialty by 28.9% during the second quarter. Wasatch Advisors LP now owns 348,437 shares of the company's stock worth $10,429,000 after acquiring an additional 78,209 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Bowhead Specialty by 262.6% in the second quarter. Versant Capital Management Inc now owns 1,037 shares of the company's stock worth $31,000 after acquiring an additional 751 shares during the period.

Bowhead Specialty Company Profile

Bowhead Specialty NYSE: BOW is a specialty insurance holding company that provides coverage for complex and hard-to-place risks. Through its insurance subsidiaries, the company primarily underwrites specialty products for businesses and organizations across the United States.

Its offerings include casualty insurance, professional liability coverage, healthcare-related liability products and other specialty lines. Bowhead distributes its products primarily through wholesale insurance brokers, serving customers whose needs may not be met by standard commercial insurance carriers.

The company was established in 2020 and became a publicly traded company in 2024.

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