Bowhead Specialty Holdings Inc. (NYSE:BOW) Receives Average Recommendation of “Moderate Buy” from Analysts

Bowhead Specialty Holdings Inc. (NYSE:BOW) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $39.67.

BOW has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Bowhead Specialty from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, April 8th. JMP Securities boosted their price objective on shares of Bowhead Specialty from $38.00 to $40.00 and gave the stock a “market outperform” rating in a report on Friday, April 11th. Piper Sandler initiated coverage on shares of Bowhead Specialty in a research note on Wednesday, April 16th. They set an “overweight” rating and a $44.00 price objective on the stock. Keefe, Bruyette & Woods lifted their target price on Bowhead Specialty from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, May 9th. Finally, Morgan Stanley boosted their price objective on Bowhead Specialty from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th.

Bowhead Specialty Stock Down 2.9%

Shares of Bowhead Specialty stock opened at $35.34 on Thursday. Bowhead Specialty has a 52-week low of $23.70 and a 52-week high of $42.29. The company’s 50-day simple moving average is $38.67 and its 200-day simple moving average is $36.07. The firm has a market cap of $1.15 billion and a price-to-earnings ratio of 26.98.

Bowhead Specialty (NYSE:BOW) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $174.85 million during the quarter, compared to analyst estimates of $105.17 million. Equities research analysts anticipate that Bowhead Specialty will post 1.36 EPS for the current year.

Hedge Funds Weigh In On Bowhead Specialty

A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its position in Bowhead Specialty by 0.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 60,963 shares of the company’s stock worth $2,165,000 after acquiring an additional 455 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Bowhead Specialty by 66.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company’s stock worth $43,000 after purchasing an additional 486 shares during the last quarter. Sei Investments Co. boosted its position in shares of Bowhead Specialty by 0.8% in the 4th 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. SBI Securities Co. Ltd. acquired a new stake in Bowhead Specialty during the 1st quarter worth $44,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Bowhead Specialty by 17.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,400 shares of the company’s stock worth $301,000 after buying an additional 1,100 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.