Bowhead Specialty (NYSE:BOW) Given New $29.00 Price Target at Morgan Stanley

Bowhead Specialty (NYSE:BOW) had its target price decreased by Morgan Stanley from $31.00 to $29.00 in a research note issued to investors on Monday morning, MarketBeat reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other equities research analysts have also recently weighed in on BOW. JMP Securities reduced their price target on Bowhead Specialty from $43.00 to $40.00 and set a “market outperform” rating on the stock in a research note on Tuesday, October 14th. 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 report on Tuesday, August 12th. JPMorgan Chase & Co. decreased their price target on shares of Bowhead Specialty from $39.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 9th. Deutsche Bank Aktiengesellschaft began coverage on shares of Bowhead Specialty in a research note on Friday, August 8th. They set a “buy” rating on the stock. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Bowhead Specialty in a report on Thursday. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Bowhead Specialty currently has an average rating of “Moderate Buy” and an average target price of $35.40.

Bowhead Specialty Price Performance

Shares of NYSE BOW opened at $27.72 on Monday. Bowhead Specialty has a 1 year low of $23.50 and a 1 year high of $42.29. The stock has a market capitalization of $908.50 million, a P/E ratio of 17.77 and a beta of -0.92. The company’s 50-day moving average is $26.38 and its 200 day moving average is $31.80.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings data on Monday, August 26th. The company reported $0.27 EPS for the quarter. Bowhead Specialty had a net margin of 10.12% and a return on equity of 13.53%. The business had revenue of $65.45 million during the quarter. Research analysts anticipate that Bowhead Specialty will post 1.36 earnings per share for the current year.

Institutional Trading of Bowhead Specialty

Institutional investors have recently bought and sold shares of the company. Informed Momentum Co LLC bought a new position in shares of Bowhead Specialty in the first quarter worth approximately $3,137,000. Goldman Sachs Group Inc. raised its holdings in Bowhead Specialty by 33.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 121,705 shares of the company’s stock worth $4,947,000 after acquiring an additional 30,440 shares during the last quarter. Deutsche Bank AG lifted its position in Bowhead Specialty by 131.1% in the 1st quarter. Deutsche Bank AG now owns 15,158 shares of the company’s stock valued at $616,000 after acquiring an additional 8,598 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Bowhead Specialty by 17.5% during 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 during the last quarter. Finally, Vanguard Group Inc. increased its holdings 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 purchasing an additional 105,138 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.