Bowhead Specialty Holdings Inc. (NYSE:BOW) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) have been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $33.8333.

Several equities analysts have commented on the company. Morgan Stanley lowered their price objective on Bowhead Specialty from $31.00 to $29.00 and set an “equal weight” rating for the company in a research report on Monday, November 17th. Royal Bank Of Canada initiated coverage on shares of Bowhead Specialty in a research note on Monday, November 24th. They issued an “outperform” rating and a $33.00 price target for the company. JPMorgan Chase & Co. lowered their price target on shares of Bowhead Specialty from $39.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. JMP Securities cut their price objective on shares of Bowhead Specialty from $43.00 to $40.00 and set a “market outperform” rating on the stock in a report on Tuesday, October 14th. Finally, Piper Sandler raised their target price on shares of Bowhead Specialty from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BOW. American Family Investments Inc. lifted its position in Bowhead Specialty by 6.9% during the second quarter. American Family Investments Inc. now owns 5,023,778 shares of the company’s stock valued at $188,542,000 after purchasing an additional 323,017 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Bowhead Specialty by 54.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,525,285 shares of the company’s stock worth $41,244,000 after acquiring an additional 536,817 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Bowhead Specialty by 36.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,506,887 shares of the company’s stock valued at $40,746,000 after acquiring an additional 404,199 shares during the period. American Century Companies Inc. increased its stake in shares of Bowhead Specialty by 73.3% in the 3rd quarter. American Century Companies Inc. now owns 1,412,408 shares of the company’s stock worth $38,192,000 after purchasing an additional 597,191 shares in the last quarter. Finally, Polar Capital Holdings Plc raised its holdings in Bowhead Specialty by 10.4% in the 3rd quarter. Polar Capital Holdings Plc now owns 689,935 shares of the company’s stock worth $18,656,000 after purchasing an additional 64,935 shares during the period.

Bowhead Specialty Stock Performance

Bowhead Specialty stock opened at $25.38 on Friday. Bowhead Specialty has a fifty-two week low of $23.50 and a fifty-two week high of $42.29. The stock’s 50 day simple moving average is $27.14 and its two-hundred day simple moving average is $28.80. The stock has a market cap of $831.79 million, a price-to-earnings ratio of 16.27 and a beta of -1.06.

Bowhead Specialty (NYSE:BOW) last released its earnings results on Tuesday, November 4th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07. Bowhead Specialty had a return on equity of 13.53% and a net margin of 10.12%.The company had revenue of $143.93 million during the quarter, compared to analysts’ expectations of $144.01 million. On average, analysts predict that Bowhead Specialty will post 1.36 earnings per share for the current year.

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.