Northern Trust Corp Has $3.42 Million Stake in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Northern Trust Corp increased its holdings in Bowhead Specialty Holdings Inc. (NYSE:BOW) by 61.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,285 shares of the company’s stock after buying an additional 36,536 shares during the period. Northern Trust Corp owned 0.29% of Bowhead Specialty worth $3,420,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BOW. Summit Investment Advisors Inc. raised its position in shares of Bowhead Specialty by 66.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company’s stock valued at $43,000 after buying an additional 486 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Bowhead Specialty in the fourth quarter valued at approximately $64,000. US Bancorp DE acquired a new stake in shares of Bowhead Specialty in the fourth quarter valued at approximately $76,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Bowhead Specialty in the fourth quarter valued at approximately $107,000. Finally, Pictet Asset Management Holding SA acquired a new stake in shares of Bowhead Specialty in the fourth quarter valued at approximately $145,000.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Piper Sandler assumed coverage on shares of Bowhead Specialty in a research report on Wednesday, April 16th. They set an “overweight” rating and a $44.00 price objective for the company. JMP Securities boosted their price objective on shares of Bowhead Specialty from $38.00 to $40.00 and gave the company a “market outperform” rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods boosted their price objective on shares of Bowhead Specialty from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, May 9th. Morgan Stanley boosted their price objective on shares of Bowhead Specialty from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Bowhead Specialty from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Bowhead Specialty currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.67.

Insider Transactions at Bowhead Specialty

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

Bowhead Specialty Price Performance

Shares of BOW opened at $36.85 on Friday. The firm has a 50 day simple moving average of $39.41 and a two-hundred day simple moving average of $35.80. The company has a market cap of $1.20 billion and a P/E ratio of 28.13. Bowhead Specialty Holdings Inc. has a one year low of $23.70 and a one year high of $42.29.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $174.85 million for the quarter, compared to analyst estimates of $105.17 million. On average, analysts expect that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Bowhead Specialty 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.