Bowhead Specialty (NYSE:BOW) Stock Price Up 2.8% – Still a Buy?

Bowhead Specialty Holdings Inc. (NYSE:BOW)’s stock price traded up 2.8% during mid-day trading on Friday . The stock traded as high as $41.99 and last traded at $42.15. 335,287 shares traded hands during trading, an increase of 67% from the average session volume of 201,245 shares. The stock had previously closed at $41.00.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upgraded shares of Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.60.

Bowhead Specialty Stock Up 3.1 %

The business’s 50 day moving average price is $34.20 and its 200-day moving average price is $32.88.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.07. The business had revenue of $184.77 million during the quarter, compared to analyst estimates of $102.12 million. Sell-side analysts forecast that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ava Schnidman bought 1,493 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $33.41 per share, for a total transaction of $49,881.13. Following the transaction, the director now directly owns 1,893 shares of the company’s stock, valued at $63,245.13. This trade represents a 373.25 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Institutional Trading of Bowhead Specialty

Several large investors have recently added to or reduced their stakes in BOW. Charles Schwab Investment Management Inc. acquired a new position in shares of Bowhead Specialty in the 3rd quarter worth approximately $1,829,000. The Manufacturers Life Insurance Company raised its position in Bowhead Specialty by 5.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 60,508 shares of the company’s stock valued at $1,695,000 after purchasing an additional 2,976 shares during the last quarter. Quantbot Technologies LP acquired a new position in Bowhead Specialty in the third quarter worth $157,000. BNP Paribas Financial Markets bought a new stake in shares of Bowhead Specialty during the third quarter worth $484,000. Finally, MetLife Investment Management LLC acquired a new stake in shares of Bowhead Specialty in the third quarter valued at $123,000.

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.