Bowhead Specialty (NYSE:BOW) Reaches New 12-Month High – Time to Buy?

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $36.16 and last traded at $36.15, with a volume of 2158 shares trading hands. The stock had previously closed at $35.80.

Wall Street Analyst Weigh In

Several research firms have weighed in on BOW. JPMorgan Chase & Co. raised their price target on Bowhead Specialty from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped their price objective on shares of Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. JMP Securities raised their target price 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, Keefe, Bruyette & Woods upped their price target on shares of Bowhead Specialty from $30.00 to $33.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $31.40.

Bowhead Specialty Trading Up 0.5 %

The firm’s fifty day moving average price is $30.47.

Bowhead Specialty (NYSE:BOW) last issued its earnings results on Tuesday, November 5th. The company reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. The company had revenue of $116.76 million during the quarter, compared to analyst estimates of $113.00 million. Research analysts predict that Bowhead Specialty Holdings Inc. will post 1.38 EPS for the current year.

Insider Buying and Selling at Bowhead Specialty

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 4,700,761 shares of the company’s stock, valued at approximately $130,211,079.70. This trade represents 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 accessible through the SEC website.

Institutional Trading of Bowhead Specialty

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. acquired a new stake in Bowhead Specialty in the second quarter worth approximately $117,000. MetLife Investment Management LLC bought a new position in Bowhead Specialty during the third quarter valued at about $123,000. Sandia Investment Management LP bought a new stake in Bowhead Specialty in the second quarter worth about $127,000. New Vernon Investment Management LLC acquired a new stake in Bowhead Specialty in the 3rd quarter valued at about $127,000. Finally, Quantbot Technologies LP acquired a new position in shares of Bowhead Specialty in the 3rd quarter worth approximately $157,000.

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.