Bowhead Specialty Holdings Inc. (NYSE:BOW) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $31.4286.

A number of equities research analysts have recently commented on the stock. Citizens Jmp reduced their target price on shares of Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating for the company in a report on Monday, April 13th. Keefe, Bruyette & Woods raised their price target on Bowhead Specialty from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Royal Bank Of Canada reduced their price objective 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. Weiss Ratings cut Bowhead Specialty from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Finally, UBS Group set a $28.00 target price on Bowhead Specialty in a research note on Thursday, May 21st.

Bowhead Specialty Stock Performance

Shares of Bowhead Specialty stock opened at $27.37 on Monday. The firm’s fifty day simple moving average is $25.61 and its 200-day simple moving average is $25.40. Bowhead Specialty has a 12 month low of $21.21 and a 12 month high of $37.98. The stock has a market capitalization of $898.86 million, a price-to-earnings ratio of 15.82, a PEG ratio of 0.82 and a beta of -0.01. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.47 and a quick ratio of 0.47.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. Bowhead Specialty had a net margin of 9.99% and a return on equity of 13.80%. The firm had revenue of $155.69 million during the quarter, compared to analysts’ expectations of $211.74 million. As a group, equities analysts forecast that Bowhead Specialty will post 1.97 earnings per share for the current year.

Hedge Funds Weigh In On Bowhead Specialty

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its stake in Bowhead Specialty by 112.7% in the 1st quarter. Royal Bank of Canada now owns 5,406 shares of the company’s stock valued at $219,000 after buying an additional 2,864 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Bowhead Specialty in the 1st quarter worth $430,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 valued at $382,000 after acquiring an additional 2,802 shares in the last quarter. Millennium Management LLC boosted its holdings 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 valued at $10,174,000 after acquiring an additional 107,896 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new position in shares of Bowhead Specialty during the first quarter worth about $206,000.

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.