Bowhead Specialty (NYSE:BOW) Price Target Raised to $40.00

Bowhead Specialty (NYSE:BOW) had its price target lifted by equities research analysts at JMP Securities from $38.00 to $40.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target points to a potential upside of 6.04% from the company’s previous close.

BOW has been the topic of several other reports. Keefe, Bruyette & Woods lowered their price target on shares of Bowhead Specialty from $44.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on Bowhead Specialty from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.80.

Bowhead Specialty Stock Performance

Shares of Bowhead Specialty stock traded down $0.24 during midday trading on Friday, hitting $37.72. The company’s stock had a trading volume of 12,443 shares, compared to its average volume of 210,804. Bowhead Specialty has a 1-year low of $22.14 and a 1-year high of $42.29. The stock has a 50-day simple moving average of $35.67 and a 200-day simple moving average of $33.66.

Bowhead Specialty (NYSE:BOW) last issued its earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. The business had revenue of $184.77 million during the quarter, compared to analyst estimates of $102.12 million. On average, sell-side analysts anticipate that Bowhead Specialty will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ava Schnidman purchased 1,493 shares of the business’s stock in a transaction 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 acquisition, the director now directly owns 1,893 shares in the company, valued at approximately $63,245.13. The trade was a 373.25 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gallatin Point Capital LLC bought a new position in shares of Bowhead Specialty during the 4th quarter worth about $389,599,000. Victory Capital Management Inc. raised its stake in Bowhead Specialty by 129.0% during the fourth quarter. Victory Capital Management Inc. now owns 1,508,003 shares of the company’s stock worth $53,564,000 after acquiring an additional 849,408 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of Bowhead Specialty by 125.3% during the fourth quarter. Wasatch Advisors LP now owns 812,901 shares of the company’s stock valued at $28,874,000 after acquiring an additional 452,033 shares during the period. Polar Capital Holdings Plc boosted its stake in shares of Bowhead Specialty by 160.3% in the 4th quarter. Polar Capital Holdings Plc now owns 550,000 shares of the company’s stock valued at $19,536,000 after purchasing an additional 338,738 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Bowhead Specialty by 274.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 314,684 shares of the company’s stock worth $11,178,000 after purchasing an additional 230,722 shares during the last quarter.

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.