Lord Abbett & CO. LLC Grows Stock Holdings in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Lord Abbett & CO. LLC grew its holdings in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) by 10.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 257,870 shares of the company’s stock after purchasing an additional 25,304 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.79% of Bowhead Specialty worth $7,223,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BOW. Barclays PLC acquired a new stake in shares of Bowhead Specialty in the third quarter worth approximately $479,000. Geode Capital Management LLC purchased a new position in Bowhead Specialty during the third quarter worth approximately $4,691,000. American Family Investments Inc. acquired a new position in shares of Bowhead Specialty in the 3rd quarter valued at $169,826,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Bowhead Specialty during the 3rd quarter valued at $317,000. Finally, State Street Corp acquired a new position in Bowhead Specialty in the third quarter valued at $1,426,000.

Insider Transactions at Bowhead Specialty

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $27.70, for a total transaction of $37,735,294.50. Following the transaction, the director now owns 4,700,761 shares of the company’s stock, valued at approximately $130,211,079.70. This trade represents a 22.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BOW. Keefe, Bruyette & Woods lifted their price target on shares of Bowhead Specialty from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target on Bowhead Specialty from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. JMP Securities upped their target price on Bowhead Specialty from $32.00 to $33.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada raised their target price on Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Bowhead Specialty presently has a consensus rating of “Hold” and a consensus target price of $32.00.

Bowhead Specialty Trading Down 1.2 %

Shares of BOW stock opened at $36.22 on Tuesday. The company’s fifty day moving average price is $32.72 and its two-hundred day moving average price is $29.34. Bowhead Specialty Holdings Inc. has a 12 month low of $22.14 and a 12 month high of $37.81.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. The business had revenue of $116.76 million during the quarter, compared to analysts’ expectations of $113.00 million. On average, analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.38 EPS for the current year.

Bowhead Specialty 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.