Bowhead Specialty Holdings Inc. (NYSE:BOW) Shares Acquired by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC boosted its stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) by 10.9% in the third quarter, HoldingsChannel reports. The firm owned 257,870 shares of the company’s stock after purchasing an additional 25,304 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Bowhead Specialty were worth $7,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Peregrine Capital Management LLC acquired a new position in Bowhead Specialty during the 2nd quarter valued at about $3,073,000. Lighthouse Investment Partners LLC bought a new stake in Bowhead Specialty during the second quarter worth approximately $2,653,000. Sei Investments Co. acquired a new stake in Bowhead Specialty in the second quarter worth approximately $2,021,000. Victory Capital Management Inc. boosted its stake in Bowhead Specialty by 4.5% during the 3rd quarter. Victory Capital Management Inc. now owns 658,595 shares of the company’s stock valued at $18,447,000 after purchasing an additional 28,235 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Bowhead Specialty during the 2nd quarter valued at $1,458,000.

Analyst Ratings Changes

Several research analysts recently weighed in on BOW shares. Royal Bank of Canada raised their target price on Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price objective on shares of Bowhead Specialty from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods increased their target price on shares of Bowhead Specialty from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, JMP Securities lifted their price target on shares of Bowhead Specialty from $32.00 to $33.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Bowhead Specialty presently has a consensus rating of “Hold” and an average price target of $32.00.

Bowhead Specialty Stock Performance

NYSE BOW opened at $36.22 on Tuesday. Bowhead Specialty Holdings Inc. has a 1 year low of $22.14 and a 1 year high of $37.81. The stock’s 50-day moving average price is $32.72 and its two-hundred day moving average price is $29.34.

Bowhead Specialty (NYSE:BOW) last released its quarterly 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 for the quarter, compared to analyst estimates of $113.00 million. As a group, equities analysts expect that Bowhead Specialty Holdings Inc. will post 1.38 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $27.70, for a total value of $37,735,294.50. Following the transaction, 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 Securities & Exchange Commission, which is available at this link.

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.