Bowhead Specialty (NYSE:BOW) Hits New 1-Year High – Here’s Why

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $39.43 and last traded at $39.07, with a volume of 100766 shares traded. The stock had previously closed at $37.70.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upgraded shares of Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Bowhead Specialty has an average rating of “Moderate Buy” and a consensus target price of $33.60.

Bowhead Specialty Stock Performance

The stock’s 50 day moving average price is $33.69 and its 200-day moving average price is $32.67.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.07. The company had revenue of $184.77 million for the quarter, compared to the consensus estimate of $102.12 million. As a group, sell-side analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 EPS for the current fiscal year.

Insider Transactions at Bowhead Specialty

In other Bowhead Specialty news, Director Ava Schnidman acquired 1,493 shares of Bowhead Specialty stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $33.41 per share, with a total value of $49,881.13. Following the completion of the purchase, the director now directly owns 1,893 shares of the company’s stock, valued at approximately $63,245.13. This represents a 373.25 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Bowhead Specialty

A number of large investors have recently added to or reduced their stakes in BOW. Charles Schwab Investment Management Inc. purchased a new position in Bowhead Specialty during the 3rd quarter worth $1,829,000. Geode Capital Management LLC purchased a new position in shares of Bowhead Specialty in the third quarter worth about $4,691,000. Barclays PLC acquired a new stake in shares of Bowhead Specialty during the third quarter worth about $479,000. Rhumbline Advisers boosted its position in Bowhead Specialty by 89.5% in the fourth quarter. Rhumbline Advisers now owns 12,601 shares of the company’s stock valued at $448,000 after buying an additional 5,953 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in Bowhead Specialty during the 3rd quarter valued at approximately $1,382,000.

Bowhead Specialty Company 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.