Bowhead Specialty Holdings Inc. (NYSE:BOW) Stock Has Average Price Target of $33.50

Bowhead Specialty Holdings Inc. (NYSE:BOW) has been assigned a consensus rating of “Hold” from the ten brokerages that are presently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $33.50.

A number of equities research analysts recently commented on the company. Weiss Ratings upgraded Bowhead Specialty from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, November 3rd. Citizens Jmp lowered Bowhead Specialty from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 10th. Citigroup downgraded shares of Bowhead Specialty to a “market perform” rating in a research note on Thursday, September 10th. JPMorgan Chase & Co. increased 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 raised their price target on shares of Bowhead Specialty from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Wednesday, August 19th.

Bowhead Specialty Price Performance

Bowhead Specialty stock traded up $0.07 during trading hours on Thursday, hitting $34.10. 168,939 shares of the stock were exchanged, compared to its average volume of 225,249. The stock has a market capitalization of $1.12 billion, a P/E ratio of 19.16, a P/E/G ratio of 0.99 and a beta of -0.06. The business’s 50-day moving average is $33.95 and its two-hundred day moving average is $29.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.50 and a current ratio of 0.50. Bowhead Specialty has a 12 month low of $21.21 and a 12 month high of $35.07.

Bowhead Specialty (NYSE:BOW) last posted its earnings results on Tuesday, November 3rd. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $171.77 million during the quarter, compared to analysts’ expectations of $278.64 million. Bowhead Specialty had a net margin of 9.32% and a return on equity of 14.45%. Equities research analysts expect that Bowhead Specialty will post 2.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Bowhead Specialty

Several large investors have recently made changes to their positions in BOW. Versant Capital Management Inc increased its position in Bowhead Specialty by 262.6% in the second quarter. Versant Capital Management Inc now owns 1,037 shares of the company’s stock worth $31,000 after purchasing an additional 751 shares during the period. Integrated Wealth Concepts LLC bought a new stake in Bowhead Specialty during the 2nd quarter worth about $35,000. Parallel Advisors LLC lifted its position in Bowhead Specialty by 181.4% during the 1st quarter. Parallel Advisors LLC now owns 1,652 shares of the company’s stock valued at $37,000 after purchasing an additional 1,065 shares during the period. Allworth Financial LP lifted its position in Bowhead Specialty by 160.4% during the 3rd quarter. Allworth Financial LP now owns 1,570 shares of the company’s stock valued at $53,000 after purchasing an additional 967 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in Bowhead Specialty by 144.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,231 shares of the company’s stock valued at $143,000 after purchasing an additional 2,499 shares during the period.

Bowhead Specialty Company Profile

Bowhead Specialty Holdings Inc. is a U.S. specialty property and casualty insurance company. Through its insurance subsidiaries, it provides coverage in areas including casualty, professional liability, healthcare and management liability. The company serves businesses and other organizations across the United States, focusing on risks that may require specialized underwriting. Bowhead began operating in 2023 and is headquartered in New York.