Bowhead Specialty Holdings Inc. (NYSE:BOW) Receives $33.50 Consensus Target Price from Analysts

Bowhead Specialty Holdings Inc. (NYSE:BOW) has been assigned an average recommendation of “Hold” from the nine research firms that are currently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $33.50.

Several brokerages recently weighed in on BOW. Keefe, Bruyette & Woods upped their target price on shares of Bowhead Specialty from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. UBS Group set a $28.00 price target on shares of Bowhead Specialty in a research report on Thursday, May 21st. Royal Bank Of Canada downgraded shares of Bowhead Specialty from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $38.00 to $34.00 in a research note on Tuesday, August 4th. JPMorgan Chase & Co. upped their price objective on Bowhead Specialty from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Finally, Weiss Ratings upgraded Bowhead Specialty from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th.

Institutional Investors Weigh In On Bowhead Specialty

A number of hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System raised its position in Bowhead Specialty by 3,401.2% in the 2nd quarter. California State Teachers Retirement System now owns 549,335 shares of the company’s stock valued at $16,442,000 after purchasing an additional 533,645 shares in the last quarter. American Family Investments Inc. acquired a new position in shares of Bowhead Specialty during the second quarter worth about $140,693,777. Bank of New York Mellon Corp purchased a new stake in shares of Bowhead Specialty during the second quarter worth approximately $1,607,000. Wasatch Advisors LP increased its stake in shares of Bowhead Specialty by 28.9% during the second quarter. Wasatch Advisors LP now owns 348,437 shares of the company’s stock worth $10,429,000 after buying an additional 78,209 shares during the period. Finally, Versant Capital Management Inc raised its holdings in Bowhead Specialty by 262.6% in the second quarter. Versant Capital Management Inc now owns 1,037 shares of the company’s stock valued at $31,000 after acquiring an additional 751 shares in the last quarter.

Bowhead Specialty Stock Performance

Shares of Bowhead Specialty stock opened at $33.65 on Friday. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 0.99 and a beta of -0.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.49 and a quick ratio of 0.49. The business has a 50-day moving average of $32.26 and a 200 day moving average of $27.60. Bowhead Specialty has a 12 month low of $21.21 and a 12 month high of $35.07.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The company had revenue of $163.86 million for the quarter, compared to analyst estimates of $278.69 million. Bowhead Specialty had a net margin of 10.11% and a return on equity of 14.05%. As a group, sell-side analysts forecast that Bowhead Specialty will post 2 earnings per share for the current year.

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.