Royal Bank Of Canada Lowers Bowhead Specialty (NYSE:BOW) Price Target to $30.00

Bowhead Specialty (NYSE:BOW) had its price target decreased by equities researchers at Royal Bank Of Canada from $33.00 to $30.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 19.95% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Keefe, Bruyette & Woods lowered their target price on Bowhead Specialty from $38.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 6th. Morgan Stanley lowered their price objective on shares of Bowhead Specialty from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, November 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bowhead Specialty in a research note on Monday, December 29th. Piper Sandler lifted 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. Finally, Zacks Research downgraded shares of Bowhead Specialty from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.33.

Bowhead Specialty Trading Down 4.4%

NYSE BOW opened at $25.01 on Wednesday. The firm’s 50 day moving average price is $25.70 and its two-hundred day moving average price is $26.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.53 and a current ratio of 0.52. Bowhead Specialty has a twelve month low of $22.15 and a twelve month high of $42.29. The stock has a market cap of $819.83 million, a price-to-earnings ratio of 15.73, a PEG ratio of 0.83 and a beta of -1.05.

Bowhead Specialty (NYSE:BOW) last issued its earnings results on Tuesday, February 24th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. Bowhead Specialty had a return on equity of 13.27% and a net margin of 9.75%.The business had revenue of $151.68 million during the quarter, compared to analysts’ expectations of $145.99 million. Equities analysts anticipate that Bowhead Specialty will post 1.36 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. lifted its stake in shares of Bowhead Specialty by 3.5% in the 4th quarter. Invesco Ltd. now owns 14,484 shares of the company’s stock valued at $413,000 after purchasing an additional 490 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in Bowhead Specialty by 21.7% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 39,346 shares of the company’s stock valued at $1,123,000 after buying an additional 7,005 shares in the last quarter. Interval Partners LP acquired a new stake in shares of Bowhead Specialty in the fourth quarter worth about $950,000. Balyasny Asset Management L.P. boosted its stake in shares of Bowhead Specialty by 122.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 251,893 shares of the company’s stock worth $7,189,000 after acquiring an additional 138,524 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its holdings in shares of Bowhead Specialty by 19.6% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 70,926 shares of the company’s stock valued at $2,024,000 after acquiring an additional 11,640 shares during the last quarter.

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.