Citadel Advisors LLC Makes New Investment in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Citadel Advisors LLC bought a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 40,833 shares of the company’s stock, valued at approximately $1,450,000. Citadel Advisors LLC owned approximately 0.13% of Bowhead Specialty as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Balyasny Asset Management L.P. lifted its holdings in shares of Bowhead Specialty by 274.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 314,684 shares of the company’s stock worth $11,178,000 after acquiring an additional 230,722 shares during the last quarter. Bank of America Corp DE lifted its stake in Bowhead Specialty by 113.3% in the 4th quarter. Bank of America Corp DE now owns 154,961 shares of the company’s stock valued at $5,504,000 after purchasing an additional 82,305 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Bowhead Specialty by 47.3% in the 4th quarter. BNP Paribas Financial Markets now owns 25,443 shares of the company’s stock valued at $904,000 after purchasing an additional 8,169 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in Bowhead Specialty in the fourth quarter valued at approximately $1,322,000. Finally, Alyeska Investment Group L.P. grew its stake in shares of Bowhead Specialty by 34.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 179,656 shares of the company’s stock worth $6,381,000 after buying an additional 46,309 shares during the last quarter.

Bowhead Specialty Trading Down 0.9%

Shares of BOW opened at $36.85 on Monday. The company has a market capitalization of $1.20 billion and a PE ratio of 28.13. Bowhead Specialty Holdings Inc. has a 12 month low of $23.70 and a 12 month high of $42.29. The stock’s 50-day moving average price is $39.41 and its two-hundred day moving average price is $35.86.

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

Analyst Ratings Changes

A number of brokerages have recently commented on BOW. Morgan Stanley increased their price target on Bowhead Specialty from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. JPMorgan Chase & Co. increased their target price on Bowhead Specialty from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Piper Sandler started coverage on Bowhead Specialty in a research note on Wednesday, April 16th. They set an “overweight” rating and a $44.00 price target on the stock. Keefe, Bruyette & Woods upped their price objective on Bowhead Specialty from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, May 9th. Finally, JMP Securities raised their price objective on shares of Bowhead Specialty from $38.00 to $40.00 and gave the company a “market outperform” rating in a report on Friday, April 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Bowhead Specialty presently has an average rating of “Moderate Buy” and an average price target of $39.67.

Insider Transactions at Bowhead Specialty

In other news, Director Ava Schnidman acquired 1,493 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $33.41 per share, for a total transaction of $49,881.13. Following the completion of the transaction, the director now directly owns 1,893 shares in the company, valued at $63,245.13. This represents a 373.25% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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.