Bowhead Specialty (NYSE:BOW) Reaches New 12-Month High – Still a Buy?

Bowhead Specialty Holdings Inc. (NYSE:BOW) reached a new 52-week high on Wednesday . The company traded as high as $34.30 and last traded at $33.91, with a volume of 2781 shares trading hands. The stock had previously closed at $34.10.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BOW shares. JMP Securities raised 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 note on Wednesday, November 6th. Keefe, Bruyette & Woods raised their target price on Bowhead Specialty from $30.00 to $33.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price target on Bowhead Specialty from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price objective on Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. 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, the company has a consensus rating of “Hold” and a consensus price target of $31.40.

Bowhead Specialty Trading Down 0.1 %

The stock’s 50 day moving average is $29.65.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The business had revenue of $116.76 million for the quarter, compared to analyst estimates of $113.00 million. As a group, equities analysts predict that Bowhead Specialty Holdings Inc. will post 1.38 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Family Mutual Insuran American sold 1,362,285 shares of the 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 directly owns 4,700,761 shares of the company’s stock, valued at approximately $130,211,079.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On Bowhead Specialty

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. bought a new stake in shares of Bowhead Specialty in the second quarter valued at about $23,148,000. Victory Capital Management Inc. bought a new stake in Bowhead Specialty in the 2nd quarter valued at approximately $15,973,000. Driehaus Capital Management LLC acquired a new position in Bowhead Specialty during the 2nd quarter worth approximately $7,866,000. Emerald Advisers LLC bought a new position in shares of Bowhead Specialty during the 2nd quarter worth approximately $5,954,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Bowhead Specialty in the second quarter valued at approximately $4,901,000.

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.