Royal Bank Of Canada Upgrades Bowhead Specialty (NYSE:BOW) to “Moderate Buy”

Bowhead Specialty (NYSE:BOW) was upgraded by equities research analysts at Royal Bank Of Canada to a “moderate buy” rating in a note issued to investors on Monday,Zacks.com reports.

BOW has been the topic of several other research reports. Keefe, Bruyette & Woods dropped their price target on shares of Bowhead Specialty from $45.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. JPMorgan Chase & Co. decreased their price objective on Bowhead Specialty from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bowhead Specialty in a research note on Tuesday. Piper Sandler reduced their price target on Bowhead Specialty from $38.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Bowhead Specialty in a report on Friday, August 8th. They set a “buy” rating on the stock. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bowhead Specialty presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Bowhead Specialty Stock Down 0.7%

NYSE:BOW opened at $27.85 on Monday. The company has a market cap of $912.92 million, a PE ratio of 17.85 and a beta of -0.93. The business’s 50 day moving average is $26.21 and its two-hundred day moving average is $31.23. Bowhead Specialty has a 52 week low of $23.50 and a 52 week high of $42.29.

Bowhead Specialty (NYSE:BOW) last released its quarterly earnings data on Monday, August 26th. The company reported $0.27 earnings per share for the quarter. The firm had revenue of $65.45 million for the quarter. Bowhead Specialty had a net margin of 10.12% and a return on equity of 13.53%. As a group, sell-side analysts expect that Bowhead Specialty will post 1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Bowhead Specialty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Family Investments Inc. raised its holdings in shares of Bowhead Specialty by 6.9% during the second 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. raised its stake in shares of Bowhead Specialty by 54.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,525,285 shares of the company’s stock worth $41,244,000 after purchasing an additional 536,817 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Bowhead Specialty by 36.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,506,887 shares of the company’s stock valued at $40,746,000 after buying an additional 404,199 shares during the last quarter. American Century Companies Inc. grew its stake in shares of 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 in the last quarter. Finally, Polar Capital Holdings Plc increased its holdings in Bowhead Specialty by 10.4% in the third quarter. Polar Capital Holdings Plc now owns 689,935 shares of the company’s stock worth $18,656,000 after buying an additional 64,935 shares during the last quarter.

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.