Bowhead Specialty (NYSE:BOW) Announces Earnings Results

Bowhead Specialty (NYSE:BOW) released its earnings results on Tuesday. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01, FiscalAI reports. The business had revenue of $151.68 million for the quarter, compared to analyst estimates of $145.99 million. Bowhead Specialty had a return on equity of 13.53% and a net margin of 10.12%.

Bowhead Specialty Price Performance

Shares of BOW stock opened at $24.84 on Tuesday. The stock’s 50-day moving average is $25.90 and its 200 day moving average is $27.04. Bowhead Specialty has a 1-year low of $23.50 and a 1-year high of $42.29. The company has a market cap of $814.26 million, a P/E ratio of 15.92, a PEG ratio of 0.81 and a beta of -1.05.

Institutional Trading of Bowhead Specialty

Institutional investors have recently modified their holdings of the company. Martingale Asset Management L P raised its stake in shares of Bowhead Specialty by 1.9% during the 4th quarter. Martingale Asset Management L P now owns 25,791 shares of the company’s stock worth $736,000 after acquiring an additional 484 shares in the last quarter. Invesco Ltd. grew its holdings in Bowhead Specialty by 3.5% in the fourth quarter. Invesco Ltd. now owns 14,484 shares of the company’s stock worth $413,000 after purchasing an additional 490 shares during the last quarter. Royal Bank of Canada grew its holdings in 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 purchasing an additional 646 shares during the last quarter. Jump Financial LLC increased its position in shares of Bowhead Specialty by 6.6% during the fourth quarter. Jump Financial LLC now owns 10,860 shares of the company’s stock worth $310,000 after purchasing an additional 673 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Bowhead Specialty by 99.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,926 shares of the company’s stock valued at $72,000 after purchasing an additional 958 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of Bowhead Specialty from $31.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, November 17th. Zacks Research downgraded shares of Bowhead Specialty from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Royal Bank Of Canada assumed coverage on Bowhead Specialty in a report on Monday, November 24th. They issued an “outperform” rating and a $33.00 price target for the company. Keefe, Bruyette & Woods reduced their price objective on Bowhead Specialty from $38.00 to $36.00 and set an “outperform” rating on the stock in a report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bowhead Specialty in a research report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $33.83.

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.