Bowhead Specialty (NYSE:BOW) Price Target Cut to $31.00 by Analysts at Morgan Stanley

Bowhead Specialty (NYSE:BOW) had its target price decreased by Morgan Stanley from $34.00 to $31.00 in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. Morgan Stanley currently has an equal weight rating on the stock.

BOW has been the topic of a number of other research reports. 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. Keefe, Bruyette & Woods cut their price target on shares of Bowhead Specialty from $45.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bowhead Specialty in a report on Saturday, September 27th. Piper Sandler dropped their target price on shares of Bowhead Specialty from $38.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, October 2nd. Finally, Zacks Research upgraded shares of Bowhead Specialty from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Bowhead Specialty Stock Performance

Shares of NYSE:BOW opened at $25.99 on Tuesday. The firm has a market cap of $851.95 million, a PE ratio of 17.68 and a beta of -0.88. The firm’s fifty day moving average is $29.65 and its 200-day moving average is $34.75. Bowhead Specialty has a 52 week low of $23.70 and a 52 week high of $42.29.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $232.36 million for the quarter, compared to analyst estimates of $134.66 million. Bowhead Specialty had a net margin of 10.05% and a return on equity of 13.25%. Sell-side analysts forecast that Bowhead Specialty will post 1.36 EPS for the current year.

Insider Buying and Selling at Bowhead Specialty

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

Institutional Investors Weigh In On Bowhead Specialty

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wyoming bought a new stake in Bowhead Specialty in the second quarter valued at $228,000. Tower Research Capital LLC TRC increased its stake in Bowhead Specialty by 99.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,926 shares of the company’s stock valued at $72,000 after purchasing an additional 958 shares in the last quarter. American Family Investments Inc. increased its stake in Bowhead Specialty by 6.9% in the second quarter. American Family Investments Inc. now owns 5,023,778 shares of the company’s stock valued at $188,542,000 after purchasing an additional 323,017 shares in the last quarter. Engineers Gate Manager LP increased its stake in Bowhead Specialty by 66.0% in the second quarter. Engineers Gate Manager LP now owns 46,839 shares of the company’s stock valued at $1,758,000 after purchasing an additional 18,619 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Bowhead Specialty by 32.7% in the second quarter. BNP Paribas Financial Markets now owns 68,506 shares of the company’s stock valued at $2,571,000 after purchasing an additional 16,900 shares in the last quarter.

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.