First Trust Advisors LP Has $3.87 Million Stock Position in Bowhead Specialty Holdings Inc. $BOW

First Trust Advisors LP increased its holdings in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) by 374.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 172,305 shares of the company’s stock after buying an additional 135,954 shares during the quarter. First Trust Advisors LP’s holdings in Bowhead Specialty were worth $3,865,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Langdon Equity Partners bought a new position in Bowhead Specialty in the fourth quarter valued at about $28,000. Parallel Advisors LLC raised its stake in Bowhead Specialty by 181.4% during the first quarter. Parallel Advisors LLC now owns 1,652 shares of the company’s stock worth $37,000 after acquiring an additional 1,065 shares in the last quarter. CWM LLC raised its stake in Bowhead Specialty by 257.7% during the fourth quarter. CWM LLC now owns 1,481 shares of the company’s stock worth $42,000 after acquiring an additional 1,067 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Bowhead Specialty in the second quarter worth about $52,000. Finally, Royal Bank of Canada lifted its holdings in shares of Bowhead Specialty by 45.5% in the fourth quarter. Royal Bank of Canada now owns 2,065 shares of the company’s stock worth $59,000 after acquiring an additional 646 shares during the last quarter.

Key Bowhead Specialty News

Here are the key news stories impacting Bowhead Specialty this week:

• Positive Sentiment: Better-than-expected earnings: Bowhead reported quarterly earnings per share of $0.48, slightly above the $0.47 consensus estimate. The result helped drive a gap-up in the stock and reinforced investor confidence in the company’s profitability. However, reported revenue of $163.86 million was well below the cited $278.69 million estimate, which may temper the positive reaction. Bowhead Specialty Shares Gap Up on Better-Than-Expected Earnings
• Positive Sentiment: Potential $1.2 billion acquisition: American Family is reportedly set to buy the remaining stake in Bowhead Specialty. The transaction provides a possible liquidity event for shareholders and appears to be the most significant near-term catalyst for BOW. American Family to Buy Remaining Stake in Bowhead American Family to Acquire Bowhead Specialty
• Neutral Sentiment: Analysts remain cautious: Bowhead has a consensus “Hold” rating, suggesting that some of the acquisition and earnings optimism may already be reflected in the stock’s recent rally. Bowhead Receives Consensus Hold Rating
• Negative Sentiment: Investor investigation announced: SBS Law is investigating whether Bowhead’s directors and management breached fiduciary duties. The announcement does not establish wrongdoing, but it introduces legal and reputational risk and could weigh on sentiment. BOW Investor Fraud Investigation

Bowhead Specialty Price Performance

Bowhead Specialty stock opened at $33.59 on Thursday. The company has a current ratio of 0.49, a quick ratio of 0.47 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $1.10 billion, a PE ratio of 18.16, a P/E/G ratio of 1.01 and a beta of -0.11. Bowhead Specialty Holdings Inc. has a 12 month low of $21.21 and a 12 month high of $35.07. The stock has a 50-day moving average price of $29.36 and a two-hundred day moving average price of $26.26.

Bowhead Specialty (NYSE:BOW) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. The company had revenue of $163.86 million for the quarter, compared to analysts’ expectations of $278.69 million. Bowhead Specialty had a return on equity of 14.05% and a net margin of 10.11%. Analysts expect that Bowhead Specialty Holdings Inc. will post 1.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BOW shares. Deutsche Bank Aktiengesellschaft downgraded shares of Bowhead Specialty from a “buy” rating to a “hold” rating and set a $34.00 price target on the stock. in a research note on Monday. Morgan Stanley upped their price objective on shares of Bowhead Specialty from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. UBS Group set a $28.00 price objective on shares of Bowhead Specialty in a research note on Thursday, May 21st. Keefe, Bruyette & Woods raised their target price on shares of Bowhead Specialty from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Finally, Piper Sandler cut shares of Bowhead Specialty from an “overweight” rating to a “hold” rating and set a $34.00 target price on the stock. in a research note on Monday. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $33.00.

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.