Goldman Sachs Group Inc. Raises Stock Position in Bowhead Specialty Holdings Inc. $BOW

Goldman Sachs Group Inc. lifted its position in Bowhead Specialty Holdings Inc. (NYSE:BOW) by 33.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 121,705 shares of the company’s stock after buying an additional 30,440 shares during the period. Goldman Sachs Group Inc. owned approximately 0.37% of Bowhead Specialty worth $4,947,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BOW. Bessemer Group Inc. purchased a new position in shares of Bowhead Specialty in the 1st quarter worth approximately $12,297,000. Millennium Management LLC grew its position in shares of Bowhead Specialty by 75.8% in the 1st quarter. Millennium Management LLC now owns 250,277 shares of the company’s stock worth $10,174,000 after buying an additional 107,896 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Bowhead Specialty by 16.2% in the 1st quarter. Vanguard Group Inc. now owns 752,320 shares of the company’s stock worth $30,582,000 after buying an additional 105,138 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Bowhead Specialty in the 1st quarter worth approximately $3,891,000. Finally, Two Sigma Investments LP grew its position in shares of Bowhead Specialty by 143.7% in the 4th quarter. Two Sigma Investments LP now owns 147,486 shares of the company’s stock worth $5,239,000 after buying an additional 86,974 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Bowhead Specialty in a research report on Friday, August 8th. They issued a “buy” rating on the stock. Morgan Stanley dropped their target price on shares of Bowhead Specialty from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th. Keefe, Bruyette & Woods dropped their target price on shares of Bowhead Specialty from $45.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Finally, Zacks Research raised shares of Bowhead Specialty from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.33.

Bowhead Specialty Stock Performance

NYSE:BOW opened at $27.69 on Wednesday. The company has a fifty day moving average of $31.64 and a two-hundred day moving average of $35.64. The stock has a market capitalization of $907.68 million, a PE ratio of 18.84 and a beta of -0.71. Bowhead Specialty Holdings Inc. has a fifty-two week low of $27.07 and a fifty-two week high of $42.29.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $232.36 million during the quarter, compared to analysts’ expectations of $134.66 million. Bowhead Specialty had a net margin of 10.05% and a return on equity of 13.25%. Research analysts forecast that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

Insiders Place Their Bets

In other Bowhead Specialty news, Director Gallatin Point Capital Llc sold 2,000,000 shares of the company’s stock in a transaction 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 directly owned 8,968,445 shares in the company, valued at approximately $274,972,523.70. This represents a 18.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Botein sold 2,000,000 shares of the stock in a transaction dated 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 sale, 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.

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.