Royal Bank Of Canada Cuts Bowhead Specialty (NYSE:BOW) Price Target to $30.00

Bowhead Specialty (NYSE:BOW) had its price objective decreased by Royal Bank Of Canada from $33.00 to $30.00 in a research note issued to investors on Wednesday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods cut their price objective on shares of Bowhead Specialty from $38.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 6th. Morgan Stanley cut their price target on Bowhead Specialty from $31.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, November 17th. Piper Sandler boosted their price objective on Bowhead Specialty from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Zacks Research cut Bowhead Specialty from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Bowhead Specialty in a research report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $33.33.

Bowhead Specialty Price Performance

Shares of BOW opened at $25.38 on Wednesday. The firm has a market cap of $832.02 million, a PE ratio of 15.96, a price-to-earnings-growth ratio of 0.77 and a beta of -1.05. Bowhead Specialty has a 52-week low of $22.15 and a 52-week high of $42.29. The business’s 50 day moving average price is $25.65 and its two-hundred day moving average price is $26.93. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.53 and a current ratio of 0.52.

Bowhead Specialty (NYSE:BOW) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02. The company had revenue of $151.68 million during the quarter, compared to analyst estimates of $145.99 million. Bowhead Specialty had a net margin of 9.75% and a return on equity of 13.27%. On average, equities analysts anticipate that Bowhead Specialty will post 1.36 EPS for the current year.

Hedge Funds Weigh In On Bowhead Specialty

Hedge funds have recently bought and sold shares of the company. American Family Investments Inc. grew its stake in shares of Bowhead Specialty by 6.9% in the 2nd quarter. American Family Investments Inc. now owns 5,023,778 shares of the company’s stock worth $188,542,000 after acquiring an additional 323,017 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Bowhead Specialty by 2.6% during the fourth quarter. Victory Capital Management Inc. now owns 1,564,326 shares of the company’s stock worth $44,646,000 after purchasing an additional 39,041 shares during the last quarter. Vanguard Group Inc. grew its position in Bowhead Specialty by 36.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,506,887 shares of the company’s stock worth $40,746,000 after purchasing an additional 404,199 shares in the last quarter. American Century Companies Inc. increased its stake in Bowhead Specialty by 73.3% in the 3rd quarter. American Century Companies Inc. now owns 1,412,408 shares of the company’s stock valued at $38,192,000 after buying an additional 597,191 shares during the last quarter. Finally, Polar Capital Holdings Plc grew its holdings in shares of Bowhead Specialty by 77.6% in the fourth quarter. Polar Capital Holdings Plc now owns 1,225,000 shares of the company’s stock valued at $34,962,000 after acquiring an additional 535,065 shares in the last quarter.

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.