Principal Financial Group Inc. Takes $883,000 Position in Bowhead Specialty Holdings Inc. $BOW

Principal Financial Group Inc. acquired a new stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 32,665 shares of the company’s stock, valued at approximately $883,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. American Family Investments Inc. boosted its holdings in Bowhead Specialty by 6.9% in the 2nd 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. DAVENPORT & Co LLC increased its holdings in shares of Bowhead Specialty by 205.7% in the third quarter. DAVENPORT & Co LLC now owns 269,769 shares of the company’s stock worth $7,295,000 after purchasing an additional 181,531 shares during the period. Millennium Management LLC raised its position in shares of Bowhead Specialty by 75.8% in the first quarter. Millennium Management LLC now owns 250,277 shares of the company’s stock worth $10,174,000 after buying an additional 107,896 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Bowhead Specialty during the second quarter valued at $3,413,000. Finally, Canada Pension Plan Investment Board purchased a new position in Bowhead Specialty during the second quarter worth about $2,484,000.

Bowhead Specialty Price Performance

Shares of NYSE BOW opened at $24.21 on Thursday. The stock has a market capitalization of $793.60 million, a P/E ratio of 15.52, a PEG ratio of 0.81 and a beta of -1.05. Bowhead Specialty Holdings Inc. has a one year low of $23.50 and a one year high of $42.29. The firm’s 50 day simple moving average is $26.08 and its two-hundred day simple moving average is $27.22.

Wall Street Analyst Weigh In

Several analysts have weighed in on BOW shares. Zacks Research cut Bowhead Specialty from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Royal Bank Of Canada started coverage on shares of Bowhead Specialty in a research report on Monday, November 24th. They issued an “outperform” rating and a $33.00 price objective on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Bowhead Specialty from $38.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 6th. Piper Sandler boosted their price target on shares of Bowhead Specialty from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, December 22nd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Bowhead Specialty in a report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Bowhead Specialty presently has a consensus rating of “Hold” and a consensus price target of $33.83.

Bowhead Specialty 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.