Bowhead Specialty (NYSE:BOW) Coverage Initiated at Piper Sandler

Research analysts at Piper Sandler started coverage on shares of Bowhead Specialty (NYSE:BOW) in a research note issued on Wednesday, Marketbeat reports. The firm set an “overweight” rating and a $44.00 price target on the stock. Piper Sandler’s target price points to a potential upside of 9.62% from the stock’s previous close.

BOW has been the topic of several other reports. Keefe, Bruyette & Woods decreased their target price on shares of Bowhead Specialty from $44.00 to $43.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. JMP Securities raised their price target on shares of Bowhead Specialty from $38.00 to $40.00 and gave the stock a “market outperform” rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Bowhead Specialty from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.17.

Bowhead Specialty Stock Performance

NYSE BOW opened at $40.14 on Wednesday. The company has a 50-day simple moving average of $36.29 and a two-hundred day simple moving average of $34.02. Bowhead Specialty has a 12-month low of $22.14 and a 12-month high of $42.29.

Bowhead Specialty (NYSE:BOW) last issued its earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.07. The company had revenue of $184.77 million for the quarter, compared to analysts’ expectations of $102.12 million. Sell-side analysts expect that Bowhead Specialty will post 1.36 EPS for the current year.

Insider Buying and Selling at Bowhead Specialty

In other news, Director Ava Schnidman acquired 1,493 shares of the business’s stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of $33.41 per share, with a total value of $49,881.13. Following the transaction, the director now owns 1,893 shares in the company, valued at $63,245.13. The trade was a 373.25 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Summit Investment Advisors Inc. grew its stake in Bowhead Specialty by 66.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company’s stock worth $43,000 after purchasing an additional 486 shares during the period. New York State Common Retirement Fund purchased a new stake in shares of Bowhead Specialty in the 4th quarter worth about $64,000. US Bancorp DE bought a new position in shares of Bowhead Specialty in the 4th quarter worth about $76,000. KLP Kapitalforvaltning AS purchased a new position in Bowhead Specialty during the 4th quarter valued at about $107,000. Finally, GAMMA Investing LLC boosted its stake in Bowhead Specialty by 7,651.2% during the first quarter. GAMMA Investing LLC now owns 3,333 shares of the company’s stock worth $135,000 after acquiring an additional 3,290 shares in the last quarter.

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.