Gallatin Point Capital LLC Buys New Shares in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Gallatin Point Capital LLC purchased a new stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) in the 4th quarter, Holdings Channel reports. The fund purchased 10,968,445 shares of the company’s stock, valued at approximately $389,599,000. Bowhead Specialty accounts for about 93.2% of Gallatin Point Capital LLC’s holdings, making the stock its biggest position. Gallatin Point Capital LLC owned 0.34% of Bowhead Specialty as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp acquired a new stake in Bowhead Specialty in the third quarter valued at $1,426,000. Barclays PLC bought a new stake in Bowhead Specialty in the third quarter valued at approximately $479,000. Geode Capital Management LLC acquired a new stake in shares of Bowhead Specialty in the third quarter valued at approximately $4,691,000. Lord Abbett & CO. LLC boosted its stake in shares of Bowhead Specialty by 10.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 257,870 shares of the company’s stock worth $7,223,000 after acquiring an additional 25,304 shares during the period. Finally, JPMorgan Chase & Co. bought a new position in shares of Bowhead Specialty during the 3rd quarter worth approximately $1,382,000.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BOW. Piper Sandler initiated coverage on Bowhead Specialty in a report on Wednesday. They set an “overweight” rating and a $44.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Bowhead Specialty from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. JMP Securities upped their target price on Bowhead Specialty from $38.00 to $40.00 and gave the company a “market outperform” rating in a research report on Friday, April 11th. Finally, Keefe, Bruyette & Woods dropped their price target on Bowhead Specialty from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bowhead Specialty presently has a consensus rating of “Moderate Buy” and an average target price of $37.17.

Bowhead Specialty Trading Up 0.8 %

NYSE:BOW opened at $40.14 on Friday. Bowhead Specialty Holdings Inc. has a fifty-two week low of $22.14 and a fifty-two week high of $42.29. The stock has a fifty day moving average price of $36.29 and a 200-day moving average price of $34.02.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. The firm had revenue of $184.77 million during the quarter, compared to the consensus estimate of $102.12 million. Analysts expect that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ava Schnidman bought 1,493 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $33.41 per share, with a total value of $49,881.13. Following the completion of the purchase, the director now owns 1,893 shares in the company, valued at $63,245.13. This represents a 373.25 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

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.