Bowhead Specialty Holdings Inc. (NYSE:BOW) Given Average Rating of “Moderate Buy” by Analysts

Bowhead Specialty Holdings Inc. (NYSE:BOW) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $35.00.

Several equities analysts have recently weighed in on the company. JMP Securities decreased their target price on Bowhead Specialty from $43.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 14th. JPMorgan Chase & Co. decreased their price objective on Bowhead Specialty from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Piper Sandler dropped their target price on shares of Bowhead Specialty from $38.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, October 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bowhead Specialty in a research report on Monday, December 15th. Finally, Royal Bank Of Canada started coverage on shares of Bowhead Specialty in a research note on Monday, November 24th. They issued an “outperform” rating and a $33.00 price target on the stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BOW. State of Alaska Department of Revenue acquired a new stake in shares of Bowhead Specialty in the third quarter valued at approximately $42,000. Raymond James Financial Inc. acquired a new position in Bowhead Specialty during the second quarter worth $52,000. Tower Research Capital LLC TRC grew its holdings in Bowhead Specialty by 99.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,926 shares of the company’s stock valued at $72,000 after buying an additional 958 shares in the last quarter. Quarry LP grew its holdings in Bowhead Specialty by 19,489.5% in the 3rd quarter. Quarry LP now owns 3,722 shares of the company’s stock valued at $101,000 after buying an additional 3,703 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in shares of Bowhead Specialty by 38.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 3,575 shares of the company’s stock worth $134,000 after acquiring an additional 989 shares during the last quarter.

Bowhead Specialty Stock Down 3.4%

Shares of NYSE BOW opened at $28.09 on Monday. The firm has a market cap of $920.87 million, a price-to-earnings ratio of 18.01 and a beta of -1.06. The company’s 50-day simple moving average is $26.40 and its 200-day simple moving average is $29.93. Bowhead Specialty has a 52-week low of $23.50 and a 52-week high of $42.29.

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

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.