Schonfeld Strategic Advisors LLC Lowers Stock Holdings in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Schonfeld Strategic Advisors LLC trimmed its holdings in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 63.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,200 shares of the company's stock after selling 12,570 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Bowhead Specialty were worth $256,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Bowhead Specialty by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 77,337 shares of the company's stock worth $2,747,000 after acquiring an additional 12,049 shares in the last quarter. Gallatin Point Capital LLC purchased a new stake in Bowhead Specialty during the fourth quarter worth approximately $389,599,000. JPMorgan Chase & Co. increased its stake in Bowhead Specialty by 102.4% in the fourth quarter. JPMorgan Chase & Co. now owns 99,813 shares of the company's stock valued at $3,545,000 after purchasing an additional 50,491 shares during the last quarter. Barclays PLC acquired a new stake in Bowhead Specialty during the third quarter worth approximately $479,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Bowhead Specialty during the fourth quarter worth approximately $583,000.

Insider Buying and Selling

In other news, Director Ava Schnidman purchased 1,493 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $33.41 per share, with a total value of $49,881.13. Following the completion of the acquisition, the director now directly owns 1,893 shares of the company's stock, valued at approximately $63,245.13. This trade represents a 373.25% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

A number of research firms recently commented on BOW. JMP Securities increased their target price on shares of Bowhead Specialty from $38.00 to $40.00 and gave the company a "market outperform" rating in a research report on Friday, April 11th. Piper Sandler began coverage on Bowhead Specialty in a report on Wednesday, April 16th. They set an "overweight" rating and a $44.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on Bowhead Specialty from $30.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods upped their target price on Bowhead Specialty from $43.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.50.

Bowhead Specialty Price Performance

Shares of NYSE:BOW traded down $0.45 on Friday, reaching $38.36. The company's stock had a trading volume of 235,239 shares, compared to its average volume of 217,590. Bowhead Specialty Holdings Inc. has a 52-week low of $22.14 and a 52-week high of $42.29. The stock has a market capitalization of $1.25 billion and a P/E ratio of 29.28. The stock's 50-day moving average is $39.18 and its two-hundred day moving average is $35.51.

Bowhead Specialty (NYSE:BOW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $174.85 million for the quarter, compared to analysts' expectations of $105.17 million. Equities analysts forecast 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.