JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Bowhead Specialty (NYSE:BOW) Stock

Bowhead Specialty (NYSE:BOW) had its target price increased by investment analysts at JPMorgan Chase & Co. from $26.00 to $30.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 5.78% from the company’s previous close.

A number of other analysts have also recently commented on BOW. Keefe, Bruyette & Woods lifted their target price on Bowhead Specialty from $30.00 to $33.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. JMP Securities lifted their price target on Bowhead Specialty from $32.00 to $33.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Finally, Royal Bank of Canada increased their price objective on Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.40.

Bowhead Specialty Stock Performance

Shares of Bowhead Specialty stock traded up $0.64 on Thursday, reaching $31.84. 65,304 shares of the company were exchanged, compared to its average volume of 182,996. The stock’s 50 day moving average is $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 released its quarterly earnings data on Tuesday, November 5th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. The business had revenue of $116.76 million for the quarter, compared to analyst estimates of $113.00 million. On average, sell-side analysts predict that Bowhead Specialty will post 1.3 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Bowhead Specialty

A number of institutional investors and hedge funds have recently modified their holdings of BOW. Point72 Asset Management L.P. acquired a new stake in Bowhead Specialty in the 2nd quarter valued at about $117,000. Sandia Investment Management LP purchased a new stake in Bowhead Specialty in the 2nd quarter valued at approximately $127,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Bowhead Specialty during the 2nd quarter valued at $192,000. Davidson Kempner Capital Management LP acquired a new position in shares of Bowhead Specialty in the second quarter worth $253,000. Finally, TD Asset Management Inc acquired a new position in shares of Bowhead Specialty in the second quarter worth $265,000.

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.