Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Bowhead Specialty (NYSE:BOW) Stock

Bowhead Specialty (NYSE:BOW) had its price target increased by Keefe, Bruyette & Woods from $35.00 to $36.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

Several other equities analysts have also issued reports on BOW. JPMorgan Chase & Co. boosted their price objective on Bowhead Specialty from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. JMP Securities boosted their price objective on Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada upped their price target on Bowhead Specialty from $32.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $32.00.

Bowhead Specialty Price Performance

Shares of BOW stock opened at $36.70 on Wednesday. The company has a 50-day moving average of $31.58. Bowhead Specialty has a one year low of $22.14 and a one year high of $37.13.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The business had revenue of $116.76 million during the quarter, compared to analyst estimates of $113.00 million. As a group, sell-side analysts expect that Bowhead Specialty will post 1.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of the company’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 owns 4,700,761 shares in the company, valued at $130,211,079.70. This represents a 22.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Institutional Investors Weigh In On Bowhead Specialty

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. American Family Investments Inc. bought a new stake in shares of Bowhead Specialty during the 3rd quarter worth approximately $169,826,000. American Century Companies Inc. bought a new stake in shares of Bowhead Specialty during the 2nd quarter worth approximately $23,148,000. Victory Capital Management Inc. raised its stake in shares of Bowhead Specialty by 4.5% during the 3rd quarter. Victory Capital Management Inc. now owns 658,595 shares of the company’s stock worth $18,447,000 after purchasing an additional 28,235 shares in the last quarter. Wasatch Advisors LP raised its stake in shares of Bowhead Specialty by 16.9% during the 3rd quarter. Wasatch Advisors LP now owns 360,868 shares of the company’s stock worth $10,108,000 after purchasing an additional 52,296 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in Bowhead Specialty in the 2nd quarter valued at $7,866,000.

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.