Bowhead Specialty (NYSE:BOW) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Bowhead Specialty (NYSE:BOW) released its earnings results on Monday. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01, FiscalAI reports. The company had revenue of $163.86 million during the quarter, compared to the consensus estimate of $278.69 million. Bowhead Specialty had a return on equity of 13.80% and a net margin of 9.99%.

Bowhead Specialty Trading Up 0.1%

NYSE:BOW opened at $30.61 on Monday. The company has a market cap of $1.01 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 0.92 and a beta of -0.10. Bowhead Specialty has a twelve month low of $21.21 and a twelve month high of $33.20. The business has a 50 day moving average price of $29.00 and a two-hundred day moving average price of $26.07. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.32.

Analyst Ratings Changes

Several brokerages have recently commented on BOW. Morgan Stanley lifted their price target on shares of Bowhead Specialty from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Piper Sandler lifted their price objective on Bowhead Specialty from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Royal Bank Of Canada upped their price target on Bowhead Specialty from $30.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Citizens Jmp lowered their target price on shares of Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating for the company in a research note on Monday, April 13th. Finally, UBS Group set a $28.00 price target on shares of Bowhead Specialty in a report on Thursday, May 21st. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Bowhead Specialty currently has an average rating of “Moderate Buy” and an average price target of $33.71.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BOW. Jump Financial LLC grew its holdings in shares of Bowhead Specialty by 6.6% in the 4th quarter. Jump Financial LLC now owns 10,860 shares of the company’s stock valued at $310,000 after acquiring an additional 673 shares in the last quarter. Brevan Howard Capital Management LP acquired a new position in Bowhead Specialty during the third quarter valued at approximately $268,000. State of Wyoming acquired a new position in Bowhead Specialty during the second quarter valued at approximately $228,000. Creative Planning bought a new position in Bowhead Specialty in the second quarter valued at approximately $225,000. Finally, Ieq Capital LLC acquired a new position in shares of Bowhead Specialty during the 4th quarter worth approximately $223,000.

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.