Bowhead Specialty (NYSE:BOW) Price Target Raised to $33.00

Bowhead Specialty (NYSE:BOW) had its price target raised by JMP Securities from $32.00 to $33.00 in a report released on Wednesday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other analysts have also issued reports on BOW. Keefe, Bruyette & Woods lifted their price target on Bowhead Specialty from $30.00 to $33.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Royal Bank of Canada upped their target price on shares of Bowhead Specialty from $32.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bowhead Specialty currently has a consensus rating of “Hold” and a consensus price target of $30.80.

Bowhead Specialty Price Performance

Shares of NYSE:BOW traded up $0.20 during midday trading on Wednesday, reaching $31.40. 23,264 shares of the company’s stock traded hands, compared to its average volume of 182,633. The company has a fifty day simple moving average of $29.47. Bowhead Specialty has a 1 year low of $22.14 and a 1 year high of $32.55.

Bowhead Specialty (NYSE:BOW) last announced its earnings results on Tuesday, November 5th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting 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. On average, sell-side analysts expect that Bowhead Specialty will post 1.3 earnings per share for the current year.

Insiders Place Their Bets

In other Bowhead Specialty 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 value of $37,735,294.50. Following the completion of the sale, the director now directly owns 4,700,761 shares of the company’s stock, valued at $130,211,079.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Bowhead Specialty

A number of hedge funds and other institutional investors have recently made changes to their positions in BOW. Allspring Global Investments Holdings LLC purchased a new position in Bowhead Specialty in the second quarter worth approximately $2,770,000. Peregrine Capital Management LLC acquired a new position in Bowhead Specialty in the second quarter valued at about $3,073,000. TD Asset Management Inc purchased a new position in Bowhead Specialty during the second quarter worth about $265,000. Victory Capital Management Inc. acquired a new stake in shares of Bowhead Specialty during the second quarter valued at about $15,973,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Bowhead Specialty in the 2nd quarter valued at approximately $4,901,000.

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.