Bleakley Financial Group LLC Reduces Stake in Bowhead Specialty Holdings Inc. $BOW

Bleakley Financial Group LLC reduced its stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) by 69.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,717 shares of the company’s stock after selling 26,332 shares during the quarter. Bleakley Financial Group LLC’s holdings in Bowhead Specialty were worth $263,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Martingale Asset Management L P lifted its stake in shares of Bowhead Specialty by 1.9% in the 4th quarter. Martingale Asset Management L P now owns 25,791 shares of the company’s stock valued at $736,000 after purchasing an additional 484 shares during the last quarter. Invesco Ltd. increased its position in shares of Bowhead Specialty by 3.5% during the 4th quarter. Invesco Ltd. now owns 14,484 shares of the company’s stock valued at $413,000 after purchasing an additional 490 shares during the last quarter. Royal Bank of Canada increased its position in shares of Bowhead Specialty by 45.5% during the 4th quarter. Royal Bank of Canada now owns 2,065 shares of the company’s stock valued at $59,000 after purchasing an additional 646 shares during the last quarter. Jump Financial LLC raised its holdings in Bowhead Specialty by 6.6% during the 4th quarter. Jump Financial LLC now owns 10,860 shares of the company’s stock valued at $310,000 after buying an additional 673 shares during the period. Finally, Langdon Equity Partners purchased a new stake in Bowhead Specialty during the 4th quarter valued at $28,000.

Analyst Upgrades and Downgrades

Several research firms have commented on BOW. Citizens Jmp dropped their price objective on shares of Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating for the company in a research note on Monday, April 13th. Weiss Ratings upgraded shares of Bowhead Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Keefe, Bruyette & Woods increased their target price on shares of Bowhead Specialty from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Royal Bank Of Canada raised their target price on shares of Bowhead Specialty from $30.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, UBS Group set a $28.00 price target on shares of Bowhead Specialty in a research note on Thursday, May 21st. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $33.71.

Bowhead Specialty Trading Down 0.2%

Shares of NYSE BOW opened at $30.65 on Monday. Bowhead Specialty Holdings Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $34.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.92 and a beta of -0.10. The business’s 50 day moving average price is $28.49 and its 200-day moving average price is $25.80.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.42 by $0.06. Bowhead Specialty had a return on equity of 13.80% and a net margin of 9.99%.The company had revenue of $155.69 million for the quarter, compared to the consensus estimate of $211.74 million. On average, sell-side analysts expect that Bowhead Specialty Holdings Inc. will post 1.97 earnings per share for the current 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.