Bowhead Specialty Holdings Inc. (NYSE:BOW) Receives $33.83 Consensus Target Price from Analysts

Bowhead Specialty Holdings Inc. (NYSE:BOW) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $33.8333.

BOW has been the topic of a number of recent analyst reports. Royal Bank Of Canada assumed coverage on Bowhead Specialty in a research note on Monday, November 24th. They issued an “outperform” rating and a $33.00 price objective on the stock. Piper Sandler increased their price objective on Bowhead Specialty from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. JMP Securities cut their target price on shares of Bowhead Specialty from $43.00 to $40.00 and set a “market outperform” rating for the company in a research note on Tuesday, October 14th. Morgan Stanley dropped their price objective on shares of Bowhead Specialty from $31.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, November 17th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Bowhead Specialty in a research report on Monday, December 29th.

Institutional Investors Weigh In On Bowhead Specialty

Institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. grew its position in shares of Bowhead Specialty by 73.3% during the 3rd quarter. American Century Companies Inc. now owns 1,412,408 shares of the company’s stock worth $38,192,000 after buying an additional 597,191 shares during the period. Victory Capital Management Inc. boosted its stake in Bowhead Specialty by 54.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,525,285 shares of the company’s stock worth $41,244,000 after acquiring an additional 536,817 shares during the last quarter. Vanguard Group Inc. grew its holdings in Bowhead Specialty by 36.7% during the third quarter. Vanguard Group Inc. now owns 1,506,887 shares of the company’s stock valued at $40,746,000 after purchasing an additional 404,199 shares during the period. American Family Investments Inc. increased its stake in Bowhead Specialty by 6.9% in the second quarter. American Family Investments Inc. now owns 5,023,778 shares of the company’s stock valued at $188,542,000 after purchasing an additional 323,017 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in Bowhead Specialty by 286.5% in the third quarter. Qube Research & Technologies Ltd now owns 326,228 shares of the company’s stock worth $8,821,000 after purchasing an additional 241,829 shares during the period.

Bowhead Specialty Trading Down 5.3%

BOW opened at $24.01 on Friday. The stock has a fifty day moving average price of $27.11 and a 200 day moving average price of $28.60. Bowhead Specialty has a 1 year low of $23.50 and a 1 year high of $42.29. The stock has a market cap of $786.95 million, a price-to-earnings ratio of 15.39 and a beta of -1.06.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. Bowhead Specialty had a net margin of 10.12% and a return on equity of 13.53%. The firm had revenue of $143.93 million during the quarter, compared to analysts’ expectations of $144.01 million. As a group, sell-side analysts forecast that Bowhead Specialty will post 1.36 earnings per share for the current fiscal 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.