Principal Financial Group Inc. Acquires Shares of 32,665 Bowhead Specialty Holdings Inc. $BOW

Principal Financial Group Inc. bought a new position in Bowhead Specialty Holdings Inc. (NYSE:BOW) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 32,665 shares of the company’s stock, valued at approximately $883,000. Principal Financial Group Inc. owned about 0.10% of Bowhead Specialty as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BOW. Royal Bank of Canada lifted its holdings in Bowhead Specialty by 112.7% during the first quarter. Royal Bank of Canada now owns 5,406 shares of the company’s stock worth $219,000 after acquiring an additional 2,864 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Bowhead Specialty during the 1st quarter valued at $430,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Bowhead Specialty by 42.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,389 shares of the company’s stock worth $382,000 after purchasing an additional 2,802 shares during the period. Millennium Management LLC boosted its holdings in shares of Bowhead Specialty by 75.8% in the 1st quarter. Millennium Management LLC now owns 250,277 shares of the company’s stock worth $10,174,000 after buying an additional 107,896 shares during the last quarter. Finally, NewEdge Advisors LLC bought a new position in Bowhead Specialty during the first quarter valued at about $206,000.

Wall Street Analysts Forecast Growth

Several analysts have commented on BOW shares. Piper Sandler lifted their price objective on shares of Bowhead Specialty from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Zacks Research cut shares of Bowhead Specialty from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Bowhead Specialty in a report on Monday, December 29th. Keefe, Bruyette & Woods decreased their target price on Bowhead Specialty from $38.00 to $36.00 and set an “outperform” rating for the company in a research report on Tuesday, January 6th. Finally, Morgan Stanley dropped their price target on Bowhead Specialty from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, November 17th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $33.83.

Bowhead Specialty Price Performance

Bowhead Specialty stock opened at $24.21 on Thursday. The firm has a market capitalization of $793.60 million, a P/E ratio of 15.52, a PEG ratio of 0.81 and a beta of -1.05. Bowhead Specialty Holdings Inc. has a one year low of $23.50 and a one year high of $42.29. The business has a fifty day moving average price of $26.08 and a 200-day moving average price of $27.22.

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.