Bowhead Specialty (NYSE:BOW) Hits New 1-Year High Following Analyst Upgrade

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) reached a new 52-week high during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $26.00 to $30.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Bowhead Specialty traded as high as $32.62 and last traded at $32.40, with a volume of 236621 shares trading hands. The stock had previously closed at $31.20.

A number of other equities research analysts have also recently issued reports on BOW. JMP Securities boosted their target price on shares of Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a research report on Wednesday. Keefe, Bruyette & Woods upped their price objective 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. Finally, Royal Bank of Canada upped their price objective on Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday. 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 currently has a consensus rating of “Hold” and an average price target of $31.40.

Insider Buying and Selling at Bowhead Specialty

In other Bowhead Specialty news, Director Family Mutual Insuran American sold 1,362,285 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $27.70, for a total value of $37,735,294.50. Following the completion of the sale, the director now owns 4,700,761 shares in the company, valued at approximately $130,211,079.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Institutional Trading of Bowhead Specialty

Institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in shares of Bowhead Specialty by 4.5% during the 3rd quarter. Victory Capital Management Inc. now owns 658,595 shares of the company’s stock valued at $18,447,000 after buying an additional 28,235 shares in the last quarter. Emerald Advisers LLC grew its holdings in Bowhead Specialty by 3.3% in the 3rd quarter. Emerald Advisers LLC now owns 242,633 shares of the company’s stock worth $6,796,000 after acquiring an additional 7,683 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Bowhead Specialty by 0.5% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 194,333 shares of the company’s stock valued at $5,443,000 after purchasing an additional 937 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Bowhead Specialty during the second quarter worth about $385,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Bowhead Specialty during the second quarter worth about $192,000.

Bowhead Specialty Trading Up 3.8 %

The stock has a 50 day moving average price of $29.47.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The business had revenue of $116.76 million for the quarter, compared to the consensus estimate of $113.00 million. Equities analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.3 earnings per share for the current fiscal 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.