Bowhead Specialty (NYSE:BOW) Releases Earnings Results, Beats Estimates By $0.01 EPS

Bowhead Specialty (NYSE:BOW) released its quarterly earnings results on Tuesday. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01, FiscalAI reports. The firm had revenue of $151.68 million during the quarter, compared to the consensus estimate of $145.99 million. Bowhead Specialty had a net margin of 10.12% and a return on equity of 13.53%.

Bowhead Specialty Stock Down 0.2%

NYSE BOW opened at $24.84 on Tuesday. The stock has a market capitalization of $814.26 million, a P/E ratio of 15.92, a P/E/G ratio of 0.81 and a beta of -1.05. Bowhead Specialty has a 52-week low of $23.50 and a 52-week high of $42.29. The firm has a 50-day moving average price of $25.90 and a 200 day moving average price of $27.04.

Analyst Ratings Changes

A number of research analysts have commented on BOW shares. Zacks Research lowered shares of Bowhead Specialty from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Keefe, Bruyette & Woods lowered their price target on Bowhead Specialty from $38.00 to $36.00 and set an “outperform” rating on the stock in a report on Tuesday, January 6th. Morgan Stanley dropped their price target on Bowhead Specialty from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, November 17th. Piper Sandler increased their price objective on Bowhead Specialty from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Finally, Royal Bank Of Canada started coverage on Bowhead Specialty in a research note on Monday, November 24th. They issued an “outperform” rating and a $33.00 target price on the stock. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $33.83.

Hedge Funds Weigh In On Bowhead Specialty

Large investors have recently modified their holdings of the business. Brevan Howard Capital Management LP acquired a new stake in shares of Bowhead Specialty during the 3rd quarter valued at approximately $268,000. Fiduciary Trust Co increased its stake in Bowhead Specialty by 13.8% in the 3rd quarter. Fiduciary Trust Co now owns 9,549 shares of the company’s stock valued at $258,000 after purchasing an additional 1,160 shares in the last quarter. State of Wyoming acquired a new position in Bowhead Specialty during the second quarter worth $228,000. Creative Planning purchased a new stake in Bowhead Specialty during the second quarter worth $225,000. Finally, Ieq Capital LLC purchased a new stake in Bowhead Specialty during the fourth quarter worth $223,000.

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.