Bowhead Specialty Holdings Inc. (NYSE:BOW) Receives Average Recommendation of “Moderate Buy” from Brokerages

Bowhead Specialty Holdings Inc. (NYSE:BOW) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $33.3333.

BOW has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised Bowhead Specialty from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, March 16th. Piper Sandler increased their price objective on Bowhead Specialty from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bowhead Specialty in a research note on Friday. Royal Bank Of Canada decreased their price target on Bowhead Specialty from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Finally, Zacks Research upgraded shares of Bowhead Specialty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th.

Institutional Trading of Bowhead Specialty

A number of institutional investors have recently made changes to their positions in BOW. Royal Bank of Canada boosted its holdings in shares of Bowhead Specialty by 112.7% in the first quarter. Royal Bank of Canada now owns 5,406 shares of the company’s stock valued at $219,000 after acquiring an additional 2,864 shares in the last quarter. AQR Capital Management LLC bought a new stake in Bowhead Specialty during the first quarter worth approximately $430,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Bowhead Specialty by 42.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,389 shares of the company’s stock worth $382,000 after purchasing an additional 2,802 shares during the period. Millennium Management LLC lifted its position in 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 purchasing an additional 107,896 shares during the period. Finally, NewEdge Advisors LLC bought a new position in Bowhead Specialty during the 1st quarter valued at $206,000.

Bowhead Specialty Stock Up 0.8%

BOW stock opened at $22.43 on Wednesday. The stock has a market cap of $736.60 million, a PE ratio of 14.11, a price-to-earnings-growth ratio of 0.67 and a beta of -1.06. The firm’s 50-day simple moving average is $23.97 and its 200 day simple moving average is $25.65. Bowhead Specialty has a fifty-two week low of $21.21 and a fifty-two week high of $42.14. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.33.

Bowhead Specialty (NYSE:BOW) last posted its earnings results on Tuesday, February 24th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Bowhead Specialty had a net margin of 9.75% and a return on equity of 13.27%. The firm had revenue of $151.68 million during the quarter, compared to analyst estimates of $145.99 million. As a group, sell-side analysts predict that Bowhead Specialty will post 1.36 EPS for the current 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.