Bowhead Specialty (NYSE:BOW) Price Target Raised to $36.00

Bowhead Specialty (NYSE:BOW) had its price objective hoisted by stock analysts at Keefe, Bruyette & Woods from $35.00 to $36.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 2.09% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Bowhead Specialty from $32.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. JMP Securities lifted their price target on shares of Bowhead Specialty from $32.00 to $33.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Bowhead Specialty from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.00.

Bowhead Specialty Stock Performance

BOW stock traded up $0.96 during midday trading on Wednesday, reaching $36.77. The company’s stock had a trading volume of 55,455 shares, compared to its average volume of 186,097. Bowhead Specialty has a 52 week low of $22.14 and a 52 week high of $37.12. The stock’s 50-day moving average price is $31.41.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. The business had revenue of $116.76 million during the quarter, compared to the consensus estimate of $113.00 million. As a group, sell-side analysts predict that Bowhead Specialty will post 1.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Family Mutual Insuran American sold 1,362,285 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $27.70, for a total transaction of $37,735,294.50. Following the sale, the director now directly owns 4,700,761 shares in the company, valued at $130,211,079.70. This trade represents a 22.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On Bowhead Specialty

Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Family Investments Inc. acquired a new stake in Bowhead Specialty in the 3rd quarter valued at $169,826,000. American Century Companies Inc. acquired a new stake in Bowhead Specialty in the 2nd quarter valued at $23,148,000. Victory Capital Management Inc. increased its stake in Bowhead Specialty by 4.5% in the 3rd quarter. Victory Capital Management Inc. now owns 658,595 shares of the company’s stock valued at $18,447,000 after buying an additional 28,235 shares during the last quarter. Wasatch Advisors LP increased its stake in Bowhead Specialty by 16.9% in the 3rd quarter. Wasatch Advisors LP now owns 360,868 shares of the company’s stock valued at $10,108,000 after buying an additional 52,296 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in Bowhead Specialty in the 2nd quarter valued at $7,866,000.

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.