Bowhead Specialty Holdings Inc.’s Lock-Up Period Set To End on November 19th (NYSE:BOW)

Bowhead Specialty’s (NYSE:BOW) lock-up period is set to expire on Tuesday, November 19th. Bowhead Specialty had issued 7,529,412 shares in its IPO on May 23rd. The total size of the offering was $128,000,004 based on an initial share price of $17.00. After the expiration of Bowhead Specialty’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Royal Bank of Canada lifted their target price on Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on Bowhead Specialty from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. JMP Securities lifted their price target on Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods lifted their price target on Bowhead Specialty from $30.00 to $33.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $31.40.

Bowhead Specialty Trading Up 0.5 %

BOW opened at $33.70 on Tuesday. Bowhead Specialty has a twelve month low of $22.14 and a twelve month high of $34.49. The company’s 50 day simple moving average is $29.78.

Bowhead Specialty (NYSE:BOW) last announced its earnings results on Tuesday, November 5th. The company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The firm had revenue of $116.76 million for the quarter, compared to the consensus estimate of $113.00 million. As a group, analysts anticipate that Bowhead Specialty will post 1.38 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Family Mutual Insuran American sold 1,362,285 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $27.70, for a total transaction of $37,735,294.50. Following the sale, the director now owns 4,700,761 shares of the company’s stock, valued at $130,211,079.70. The trade was a 22.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC bought a new position in shares of Bowhead Specialty in the third quarter valued at $4,691,000. American Family Investments Inc. bought a new position in shares of Bowhead Specialty in the third quarter valued at $169,826,000. Barclays PLC bought a new position in shares of Bowhead Specialty in the third quarter valued at $479,000. Y Intercept Hong Kong Ltd bought a new position in shares of Bowhead Specialty in the third quarter valued at $317,000. Finally, State Street Corp bought a new position in shares of Bowhead Specialty in the third quarter valued at $1,426,000.

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.