Bowhead Specialty Holdings Inc. (NYSE:BOW) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $35.6667.

Several research firms have recently commented on BOW. Piper Sandler decreased their target price on shares of Bowhead Specialty from $38.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, October 2nd. Morgan Stanley decreased their target price on shares of Bowhead Specialty from $34.00 to $31.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. JMP Securities decreased their target price on shares of Bowhead Specialty from $43.00 to $40.00 and set a “market outperform” rating for the company in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods decreased 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 report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Bowhead Specialty from $39.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th.

Insider Activity

In other Bowhead Specialty news, Director Matthew Botein sold 2,000,000 shares of the company’s stock in a transaction dated 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. This represents a 18.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gallatin Point Capital Llc sold 2,000,000 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was 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 $274,972,523.70. The trade was a 18.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BOW. Teacher Retirement System of Texas bought a new position in shares of Bowhead Specialty during the 1st quarter valued at approximately $247,000. Bank of New York Mellon Corp lifted its stake in Bowhead Specialty by 34.5% in the 1st quarter. Bank of New York Mellon Corp now owns 39,750 shares of the company’s stock worth $1,616,000 after purchasing an additional 10,200 shares in the last quarter. Brown Advisory Inc. purchased a new stake in Bowhead Specialty in the 1st quarter worth approximately $244,000. New York State Common Retirement Fund lifted its stake in Bowhead Specialty by 238.9% in the 1st quarter. New York State Common Retirement Fund now owns 6,100 shares of the company’s stock worth $248,000 after purchasing an additional 4,300 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Bowhead Specialty in the 1st quarter worth approximately $44,000.

Bowhead Specialty Trading Down 0.9%

Shares of NYSE BOW opened at $23.99 on Friday. The firm’s 50-day moving average price is $27.45 and its 200-day moving average price is $32.93. Bowhead Specialty has a 1-year low of $23.50 and a 1-year high of $42.29. The firm has a market capitalization of $786.23 million, a P/E ratio of 16.32 and a beta of -0.88.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings data on Monday, August 26th. The company reported $0.27 earnings per share for the quarter. The firm had revenue of $65.45 million for the quarter. Bowhead Specialty had a net margin of 10.05% and a return on equity of 13.25%. Equities research analysts forecast that Bowhead Specialty will post 1.36 EPS for the current year.

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.