Royal Bank of Canada Reiterates “Outperform” Rating for Bowhead Specialty (NYSE:BOW)

Royal Bank of Canada reiterated their outperform rating on shares of Bowhead Specialty (NYSE:BOW) in a report issued on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a $32.00 price target on the stock.

Separately, JMP Securities upped their price target on Bowhead Specialty from $31.00 to $32.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 15th. 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.com, Bowhead Specialty currently has a consensus rating of “Hold” and a consensus target price of $30.00.

Bowhead Specialty Trading Up 0.9 %

NYSE:BOW opened at $29.38 on Tuesday. Bowhead Specialty has a 1 year low of $22.14 and a 1 year high of $32.55. The firm has a fifty day moving average price of $29.52.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $98.90 million during the quarter, compared to analyst estimates of $94.28 million. The firm’s quarterly revenue was up 51.0% compared to the same quarter last year. Research analysts forecast that Bowhead Specialty will post 1.3 EPS for the current year.

Insider Buying and Selling at Bowhead Specialty

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $27.70, for a total transaction of $37,735,294.50. Following the sale, the director now directly owns 4,700,761 shares in the company, valued at approximately $130,211,079.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Trading of Bowhead Specialty

Several institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new position in Bowhead Specialty during the second quarter worth about $117,000. Sandia Investment Management LP bought a new position in shares of Bowhead Specialty during the 2nd quarter worth approximately $127,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Bowhead Specialty in the 2nd quarter valued at $192,000. Davidson Kempner Capital Management LP bought a new stake in Bowhead Specialty in the second quarter valued at $253,000. Finally, TD Asset Management Inc acquired a new position in Bowhead Specialty during the second quarter worth $265,000.

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.