67,730 Shares in Bowhead Specialty Holdings Inc. (NYSE:BOW) Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP acquired a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 67,730 shares of the company’s stock, valued at approximately $2,406,000. Cinctive Capital Management LP owned about 0.21% of Bowhead Specialty as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sei Investments Co. grew its holdings in shares of Bowhead Specialty by 0.8% in the fourth quarter. Sei Investments Co. now owns 94,395 shares of the company’s stock worth $3,353,000 after purchasing an additional 760 shares during the last quarter. Schroder Investment Management Group lifted its holdings in Bowhead Specialty by 0.3% during the 4th quarter. Schroder Investment Management Group now owns 365,886 shares of the company’s stock valued at $12,641,000 after buying an additional 1,209 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in Bowhead Specialty in the 4th quarter valued at about $64,000. Corebridge Financial Inc. grew its stake in Bowhead Specialty by 49.9% in the 4th quarter. Corebridge Financial Inc. now owns 5,787 shares of the company’s stock worth $206,000 after acquiring an additional 1,926 shares in the last quarter. Finally, US Bancorp DE purchased a new position in shares of Bowhead Specialty during the fourth quarter worth approximately $76,000.

Insider Transactions at Bowhead Specialty

In related news, Director Ava Schnidman acquired 1,493 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $33.41 per share, with a total value of $49,881.13. Following the completion of the transaction, the director now directly owns 1,893 shares in the company, valued at $63,245.13. This trade represents a 373.25 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analysts Set New Price Targets

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

Bowhead Specialty Price Performance

NYSE BOW opened at $41.69 on Thursday. Bowhead Specialty Holdings Inc. has a one year low of $22.14 and a one year high of $42.29. The company’s 50-day simple moving average is $34.72 and its two-hundred day simple moving average is $33.14.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.07. The business had revenue of $184.77 million for the quarter, compared to analysts’ expectations of $102.12 million. Analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

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.