Bowhead Specialty Holdings Inc. (NYSE:BOW) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $39.67.

BOW has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on Bowhead Specialty from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. JMP Securities upped their target price on Bowhead Specialty from $38.00 to $40.00 and gave the company a “market outperform” rating in a research report on Friday, April 11th. Morgan Stanley increased their price target on Bowhead Specialty from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods raised their target price on Bowhead Specialty from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, May 9th. Finally, Piper Sandler began coverage on shares of Bowhead Specialty in a research note on Wednesday, April 16th. They issued an “overweight” rating and a $44.00 price target on the stock.

Institutional Trading of Bowhead Specialty

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in Bowhead Specialty by 113.3% in the 4th quarter. Bank of America Corp DE now owns 154,961 shares of the company’s stock valued at $5,504,000 after purchasing an additional 82,305 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Bowhead Specialty by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 77,337 shares of the company’s stock worth $2,747,000 after purchasing an additional 12,049 shares during the last quarter. Gallatin Point Capital LLC purchased a new stake in shares of Bowhead Specialty during the 4th quarter worth $389,599,000. JPMorgan Chase & Co. lifted its position in Bowhead Specialty by 102.4% in the fourth quarter. JPMorgan Chase & Co. now owns 99,813 shares of the company’s stock valued at $3,545,000 after acquiring an additional 50,491 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Bowhead Specialty by 61.1% in the fourth quarter. Northern Trust Corp now owns 96,285 shares of the company’s stock valued at $3,420,000 after acquiring an additional 36,536 shares during the last quarter.

Bowhead Specialty Trading Down 2.9%

NYSE:BOW opened at $35.34 on Thursday. The company has a market capitalization of $1.15 billion and a P/E ratio of 26.98. Bowhead Specialty has a 12 month low of $23.70 and a 12 month high of $42.29. The business’s 50-day moving average is $38.67 and its 200 day moving average is $36.07.

Bowhead Specialty (NYSE:BOW) last released its earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $174.85 million for the quarter, compared to the consensus estimate of $105.17 million. On average, research analysts forecast that Bowhead Specialty will post 1.36 earnings per share for the current 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.