Bowhead Specialty (NYSE:BOW) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Bowhead Specialty (NYSE:BOW) issued its quarterly earnings results on Monday. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01, FiscalAI reports. The firm had revenue of $163.86 million during the quarter, compared to analysts’ expectations of $278.69 million. Bowhead Specialty had a return on equity of 13.80% and a net margin of 9.99%.

Bowhead Specialty Stock Performance

Shares of Bowhead Specialty stock opened at $30.61 on Monday. The company’s fifty day moving average is $29.00 and its 200 day moving average is $26.07. Bowhead Specialty has a twelve month low of $21.21 and a twelve month high of $33.20. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 0.92 and a beta of -0.10. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.32.

Hedge Funds Weigh In On Bowhead Specialty

A number of institutional investors have recently modified their holdings of the company. Polar Capital Holdings Plc increased its holdings in Bowhead Specialty by 77.6% during the 4th quarter. Polar Capital Holdings Plc now owns 1,225,000 shares of the company’s stock worth $34,962,000 after purchasing an additional 535,065 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Bowhead Specialty by 36.7% during the third quarter. Vanguard Group Inc. now owns 1,506,887 shares of the company’s stock worth $40,746,000 after acquiring an additional 404,199 shares during the period. Gillson Capital LP purchased a new position in shares of Bowhead Specialty in the 4th quarter worth about $11,317,000. American Family Investments Inc. increased its stake in shares of Bowhead Specialty by 6.9% during the 2nd quarter. American Family Investments Inc. now owns 5,023,778 shares of the company’s stock worth $188,542,000 after purchasing an additional 323,017 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Bowhead Specialty by 286.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 326,228 shares of the company’s stock worth $8,821,000 after acquiring an additional 241,829 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have commented on BOW shares. Piper Sandler increased their price target on shares of Bowhead Specialty from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Citizens Jmp dropped their price target on Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating on the stock in a research note on Monday, April 13th. Weiss Ratings upgraded shares of Bowhead Specialty from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. upped their price target on shares of Bowhead Specialty from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Finally, Morgan Stanley upped their target price on Bowhead Specialty from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.71.

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.