Bowhead Specialty (NYSE:BOW) Sets New 52-Week High – Still a Buy?

Bowhead Specialty Holdings Inc. (NYSE:BOW)’s stock price reached a new 52-week high on Monday . The company traded as high as $39.43 and last traded at $39.07, with a volume of 100766 shares changing hands. The stock had previously closed at $37.70.

Wall Street Analyst Weigh In

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 research report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.60.

Bowhead Specialty Trading Up 4.6 %

The company’s fifty day moving average price is $33.36 and its two-hundred day moving average price is $32.55.

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, topping analysts’ consensus estimates of $0.35 by $0.07. The company had revenue of $184.77 million for the quarter, compared to analysts’ expectations of $102.12 million. As a group, research analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

Insider Activity at Bowhead Specialty

In other Bowhead Specialty news, Director Ava Schnidman purchased 1,493 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $33.41 per share, for a total transaction of $49,881.13. Following the completion of the acquisition, the director now 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Bowhead Specialty

A number of hedge funds have recently made changes to their positions in BOW. Charles Schwab Investment Management Inc. acquired a new stake in Bowhead Specialty in the 3rd quarter valued at $1,829,000. The Manufacturers Life Insurance Company grew its stake in shares of Bowhead Specialty by 5.2% in the third quarter. The Manufacturers Life Insurance Company now owns 60,508 shares of the company’s stock valued at $1,695,000 after buying an additional 2,976 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Bowhead Specialty during the 3rd quarter valued at about $157,000. BNP Paribas Financial Markets acquired a new position in Bowhead Specialty during the 3rd quarter worth approximately $484,000. Finally, MetLife Investment Management LLC acquired a new position in Bowhead Specialty during the 3rd quarter worth approximately $123,000.

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.