Royal Bank of Canada Increases Bowhead Specialty (NYSE:BOW) Price Target to $35.00

Bowhead Specialty (NYSE:BOW) had its price objective lifted by equities research analysts at Royal Bank of Canada from $32.00 to $35.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 4.35% from the stock’s current price.

Several other research firms have also recently commented on BOW. Keefe, Bruyette & Woods boosted their price target on shares of Bowhead Specialty from $30.00 to $33.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. JMP Securities increased their target price on Bowhead Specialty from $31.00 to $32.00 and gave the company 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.40.

Bowhead Specialty Trading Up 3.2 %

Shares of NYSE:BOW traded up $1.05 during midday trading on Wednesday, reaching $33.54. 13,874 shares of the company’s stock were exchanged, compared to its average volume of 183,966. The stock has a 50 day moving average price of $29.50. Bowhead Specialty has a fifty-two week low of $22.14 and a fifty-two week high of $33.69.

Bowhead Specialty (NYSE:BOW) last announced its earnings results on Tuesday, November 5th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. The firm had revenue of $116.76 million during the quarter, compared to analysts’ expectations of $113.00 million. As a group, equities research analysts predict that Bowhead Specialty will post 1.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bowhead Specialty news, Director Family Mutual Insuran American sold 1,362,285 shares of Bowhead Specialty 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 transaction, the director now owns 4,700,761 shares of the company’s stock, valued at $130,211,079.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust boosted its position in shares of Bowhead Specialty by 0.5% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 194,333 shares of the company’s stock worth $5,443,000 after purchasing an additional 937 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Bowhead Specialty during the second quarter worth about $117,000. Sandia Investment Management LP acquired a new position in Bowhead Specialty during the second quarter worth about $127,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Bowhead Specialty in the second quarter valued at about $192,000. Finally, Emerald Advisers LLC lifted its position in shares of Bowhead Specialty by 3.3% during the 3rd quarter. Emerald Advisers LLC now owns 242,633 shares of the company’s stock valued at $6,796,000 after acquiring an additional 7,683 shares during the period.

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.