Bowhead Specialty (NYSE:BOW) Sets New 52-Week High – What’s Next?

Bowhead Specialty Holdings Inc. (NYSE:BOW) reached a new 52-week high during trading on Tuesday . The stock traded as high as $34.51 and last traded at $34.51, with a volume of 23223 shares traded. The stock had previously closed at $33.72.

Analyst Upgrades and Downgrades

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

Bowhead Specialty Stock Up 2.8 %

The firm’s 50 day moving average price is $29.78.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The business had revenue of $116.76 million during the quarter, compared to analysts’ expectations of $113.00 million. Analysts expect that Bowhead Specialty Holdings Inc. will post 1.38 earnings per share for the current year.

Insiders Place Their Bets

In other 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 transaction, the director now directly owns 4,700,761 shares in the company, valued at $130,211,079.70. The trade was a 22.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Emerald Mutual Fund Advisers Trust raised its stake in shares of Bowhead Specialty by 0.5% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 194,333 shares of the company’s stock valued at $5,443,000 after acquiring an additional 937 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Bowhead Specialty by 5.2% during the third quarter. The Manufacturers Life Insurance Company now owns 60,508 shares of the company’s stock worth $1,695,000 after purchasing an additional 2,976 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Bowhead Specialty in the 3rd quarter valued at $123,000. New Vernon Investment Management LLC acquired a new position in Bowhead Specialty during the 3rd quarter worth about $127,000. Finally, Point72 Asset Management L.P. purchased a new position in Bowhead Specialty during the 2nd quarter valued at about $117,000.

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.