Zurcher Kantonalbank Zurich Cantonalbank Has $301,000 Stock Holdings in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) by 17.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,400 shares of the company’s stock after buying an additional 1,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bowhead Specialty were worth $301,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Gallatin Point Capital LLC purchased a new stake in shares of Bowhead Specialty in the fourth quarter valued at about $389,599,000. Wasatch Advisors LP raised its holdings in shares of Bowhead Specialty by 125.3% in the fourth quarter. Wasatch Advisors LP now owns 812,901 shares of the company’s stock valued at $28,874,000 after purchasing an additional 452,033 shares during the last quarter. Polar Capital Holdings Plc raised its holdings in shares of Bowhead Specialty by 160.3% in the fourth quarter. Polar Capital Holdings Plc now owns 550,000 shares of the company’s stock valued at $19,536,000 after purchasing an additional 338,738 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of Bowhead Specialty in the first quarter valued at about $12,297,000. Finally, Balyasny Asset Management L.P. raised 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 valued at $11,178,000 after purchasing an additional 230,722 shares during the last quarter.

Bowhead Specialty Stock Down 0.8%

BOW opened at $30.98 on Friday. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 21.07 and a beta of -0.69. The firm has a 50-day moving average price of $34.70 and a 200-day moving average price of $35.98. Bowhead Specialty Holdings Inc. has a twelve month low of $26.56 and a twelve month high of $42.29.

Bowhead Specialty (NYSE:BOW) last posted its earnings results on Tuesday, August 5th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $232.36 million during the quarter, compared to the consensus estimate of $134.66 million. Bowhead Specialty had a net margin of 10.05% and a return on equity of 13.25%. On average, sell-side analysts expect that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Matthew Botein sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $30.66, for a total value of $61,320,000.00. Following the completion of the transaction, the director directly owned 8,968,445 shares in the company, valued at approximately $274,972,523.70. This trade represents a 18.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gallatin Point Capital Llc sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $30.66, for a total transaction of $61,320,000.00. Following the completion of the transaction, the director owned 8,968,445 shares of the company’s stock, valued at $274,972,523.70. This trade represents a 18.23% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several equities analysts recently weighed in on BOW shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Bowhead Specialty in a research report on Friday. They set a “buy” rating for the company. Piper Sandler started coverage on shares of Bowhead Specialty in a research report on Wednesday, April 16th. They set an “overweight” rating and a $44.00 price target for the company. Keefe, Bruyette & Woods increased their price target 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 increased their price target 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, JMP Securities increased their price target 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. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Bowhead Specialty has a consensus rating of “Moderate Buy” and an average target price of $39.67.

About Bowhead Specialty

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.