Steelhead Wealth Management LLC Purchases Shares of 95,569 Bowhead Specialty Holdings Inc. $BOW

Steelhead Wealth Management LLC purchased a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW) during the first quarter, HoldingsChannel.com reports. The fund purchased 95,569 shares of the company’s stock, valued at approximately $2,143,000. Bowhead Specialty makes up approximately 1.1% of Steelhead Wealth Management LLC’s portfolio, making the stock its 23rd largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in BOW. Parallel Advisors LLC increased its position in shares of Bowhead Specialty by 181.4% during the first quarter. Parallel Advisors LLC now owns 1,652 shares of the company’s stock worth $37,000 after acquiring an additional 1,065 shares in the last quarter. Royal Bank of Canada lifted its position in Bowhead Specialty by 1,796.3% in the 1st quarter. Royal Bank of Canada now owns 39,159 shares of the company’s stock valued at $878,000 after acquiring an additional 37,094 shares in the last quarter. Empowered Funds LLC bought a new stake in Bowhead Specialty in the 1st quarter valued at $1,438,000. Sei Investments Co. boosted its stake in Bowhead Specialty by 22.6% in the 1st quarter. Sei Investments Co. now owns 17,088 shares of the company’s stock worth $383,000 after purchasing an additional 3,149 shares during the period. Finally, State of Wyoming acquired a new position in Bowhead Specialty in the 1st quarter worth $158,000.

Bowhead Specialty Price Performance

NYSE:BOW opened at $30.61 on Monday. The stock has a market capitalization of $1.01 billion, a PE ratio of 17.70, a P/E/G ratio of 0.92 and a beta of -0.10. Bowhead Specialty Holdings Inc. has a 1-year low of $21.21 and a 1-year high of $33.20. The firm has a fifty day simple moving average of $29.00 and a 200 day simple moving average of $26.07. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.32.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.06. The firm had revenue of $155.69 million for the quarter, compared to analyst estimates of $211.74 million. Bowhead Specialty had a net margin of 9.99% and a return on equity of 13.80%. On average, research analysts expect that Bowhead Specialty Holdings Inc. will post 1.96 EPS for the current fiscal year.

Analysts Set New Price Targets

BOW has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Bowhead Specialty from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Weiss Ratings upgraded Bowhead Specialty from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Morgan Stanley upped their price objective on Bowhead Specialty from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Citizens Jmp decreased their price objective on Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating for the company in a report on Monday, April 13th. Finally, Keefe, Bruyette & Woods lifted their target price on Bowhead Specialty from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Bowhead Specialty currently has an average rating of “Moderate Buy” and a consensus price target of $33.71.

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.