Jacobs Levy Equity Management Inc. Buys Shares of 87,054 Bowhead Specialty Holdings Inc. (NYSE:BOW)

Jacobs Levy Equity Management Inc. bought a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 87,054 shares of the company’s stock, valued at approximately $3,092,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in Bowhead Specialty by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 77,337 shares of the company’s stock valued at $2,747,000 after purchasing an additional 12,049 shares during the last quarter. Gallatin Point Capital LLC purchased a new position in Bowhead Specialty in the fourth quarter valued at about $389,599,000. JPMorgan Chase & Co. grew its stake in Bowhead Specialty by 102.4% in the fourth quarter. JPMorgan Chase & Co. now owns 99,813 shares of the company’s stock valued at $3,545,000 after purchasing an additional 50,491 shares during the last quarter. Barclays PLC purchased a new position in Bowhead Specialty in the third quarter valued at about $479,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Bowhead Specialty in the fourth quarter valued at about $583,000.

Bowhead Specialty Stock Performance

Shares of BOW stock opened at $37.92 on Thursday. Bowhead Specialty Holdings Inc. has a fifty-two week low of $22.14 and a fifty-two week high of $42.29. The firm has a market capitalization of $1.24 billion and a price-to-earnings ratio of 28.95. The stock’s 50-day simple moving average is $38.98 and its 200-day simple moving average is $35.39.

Bowhead Specialty (NYSE:BOW) last released its earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $174.85 million for the quarter, compared to analyst estimates of $105.17 million. As a group, equities analysts forecast that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ava Schnidman bought 1,493 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $33.41 per share, with a total value of $49,881.13. Following the completion of the acquisition, the director now directly owns 1,893 shares of the company’s stock, valued at $63,245.13. This trade represents a 373.25% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. JMP Securities lifted their target price on Bowhead Specialty from $38.00 to $40.00 and gave the company a “market outperform” rating in a research note on Friday, April 11th. Piper Sandler began coverage on Bowhead Specialty in a research note on Wednesday, April 16th. They set an “overweight” rating and a $44.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on Bowhead Specialty from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods boosted their price target on Bowhead Specialty from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.50.

Bowhead Specialty Company 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.