15,100 Shares in Bowhead Specialty Holdings Inc. $BOW Purchased by Strs Ohio

Strs Ohio purchased a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,100 shares of the company’s stock, valued at approximately $614,000.

Other hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Bowhead Specialty during the first quarter valued at approximately $44,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Bowhead Specialty by 17.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,400 shares of the company’s stock valued at $301,000 after purchasing an additional 1,100 shares in the last quarter. Jump Financial LLC lifted its holdings in shares of Bowhead Specialty by 17.1% in the 1st quarter. Jump Financial LLC now owns 9,050 shares of the company’s stock valued at $368,000 after buying an additional 1,322 shares during the period. Nemes Rush Group LLC purchased a new stake in shares of Bowhead Specialty in the first quarter valued at $61,000. Finally, SG Americas Securities LLC raised its stake in Bowhead Specialty by 19.9% during the first quarter. SG Americas Securities LLC now owns 11,612 shares of the company’s stock valued at $472,000 after buying an additional 1,931 shares in the last quarter.

Analyst Ratings Changes

BOW has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut their target price on shares of Bowhead Specialty from $45.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th. Zacks Research upgraded shares of Bowhead Specialty from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Morgan Stanley reduced their price objective 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Bowhead Specialty in a report on Friday, August 8th. They set a “buy” rating on the stock. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Bowhead Specialty currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

Insiders Place Their Bets

In related news, Director Matthew Botein sold 2,000,000 shares of the business’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 in the company, valued at $274,972,523.70. The trade was a 18.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gallatin Point Capital Llc sold 2,000,000 shares of the 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 transaction, the director directly owned 8,968,445 shares in the company, valued at approximately $274,972,523.70. The trade was a 18.23% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Bowhead Specialty Price Performance

NYSE BOW opened at $27.70 on Friday. Bowhead Specialty Holdings Inc. has a one year low of $27.07 and a one year high of $42.29. The firm has a market cap of $908.01 million, a PE ratio of 18.84 and a beta of -0.71. The stock’s 50 day simple moving average is $31.29 and its 200 day simple moving average is $35.51.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.37 earnings per share (EPS) 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 return on equity of 13.25% and a net margin of 10.05%. As a group, equities analysts expect that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current 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.