Bowhead Specialty (NYSE:BOW) Reaches New 52-Week High – What’s Next?

Bowhead Specialty Holdings Inc. (NYSE:BOW) shares reached a new 52-week high on Monday . The company traded as high as $39.43 and last traded at $39.07, with a volume of 100766 shares trading hands. The stock had previously closed at $37.70.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upgraded shares of Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $33.60.

Bowhead Specialty Stock Performance

The company has a 50 day moving average price of $33.36 and a 200 day moving average price of $32.55.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.07. The company had revenue of $184.77 million for the quarter, compared to analyst estimates of $102.12 million. As a group, sell-side analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

Insider Activity at Bowhead Specialty

In other news, Director Ava Schnidman purchased 1,493 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $33.41 per share, for a total transaction of $49,881.13. Following the acquisition, the director now owns 1,893 shares of the company’s stock, valued at $63,245.13. The trade was a 373.25 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Hedge Funds Weigh In On Bowhead Specialty

A number of hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. acquired a new stake in shares of Bowhead Specialty during the third quarter worth $1,829,000. The Manufacturers Life Insurance Company lifted its holdings in Bowhead Specialty by 5.2% in the third quarter. The Manufacturers Life Insurance Company now owns 60,508 shares of the company’s stock worth $1,695,000 after acquiring an additional 2,976 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Bowhead Specialty during the third quarter valued at approximately $157,000. BNP Paribas Financial Markets acquired a new position in Bowhead Specialty during the 3rd quarter valued at approximately $484,000. Finally, MetLife Investment Management LLC acquired a new stake in Bowhead Specialty in the third quarter worth $123,000.

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.