Bowhead Specialty (NYSE:BOW) Announces Quarterly Earnings Results, Hits Estimates

Bowhead Specialty (NYSE:BOW) announced its quarterly earnings results on Tuesday. The company reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38, Briefing.com reports. The business had revenue of $116.76 million for the quarter, compared to analyst estimates of $113.00 million.

Bowhead Specialty Price Performance

Shares of Bowhead Specialty stock traded up $1.32 during trading hours on Thursday, hitting $32.52. 357,826 shares of the company’s stock traded hands, compared to its average volume of 185,517. Bowhead Specialty has a twelve month low of $22.14 and a twelve month high of $32.62. The stock has a 50 day moving average of $29.50.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Bowhead Specialty from $30.00 to $33.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on Bowhead Specialty from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday. Royal Bank of Canada upped their target price on Bowhead Specialty from $32.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, JMP Securities increased their target price on Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Bowhead Specialty presently has an average rating of “Hold” and a consensus price target of $31.40.

Insider Activity at Bowhead Specialty

In other Bowhead Specialty news, Director Family Mutual Insuran American sold 1,362,285 shares of the firm’s 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 completion of the sale, the director now owns 4,700,761 shares in the company, valued at $130,211,079.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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.