Bowhead Specialty (NYSE:BOW) Reaches New 1-Year High – Here’s What Happened

Bowhead Specialty Holdings Inc. (NYSE:BOW)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $34.30 and last traded at $33.91, with a volume of 2781 shares changing hands. The stock had previously closed at $34.10.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. JMP Securities upped their target price on Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their target price 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. Keefe, Bruyette & Woods upped their price target 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. Finally, JPMorgan Chase & Co. lifted their price objective on Bowhead Specialty from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Bowhead Specialty presently has an average rating of “Hold” and a consensus target price of $31.40.

Bowhead Specialty Stock Performance

The firm’s fifty day simple moving average is $29.65.

Bowhead Specialty (NYSE:BOW) last posted its 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 company had revenue of $116.76 million for the quarter, compared to the consensus estimate of $113.00 million. Equities analysts forecast 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 Bowhead Specialty stock in a transaction that occurred on 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 transaction, the director now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Bowhead Specialty

Hedge funds and other institutional investors have recently made changes to their positions in the business. Peregrine Capital Management LLC bought a new stake in Bowhead Specialty during the 2nd quarter valued at approximately $3,073,000. Lighthouse Investment Partners LLC acquired a new position in shares of Bowhead Specialty during the second quarter worth approximately $2,653,000. Sei Investments Co. bought a new stake in shares of Bowhead Specialty in the second quarter valued at approximately $2,021,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Bowhead Specialty in the second quarter worth $1,458,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in Bowhead Specialty during the second quarter worth $4,901,000.

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.