Bowhead Specialty (NYSE:BOW) Raised to Outperform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Bowhead Specialty (NYSE:BOW) from a market perform rating to an outperform rating in a research report report published on Monday morning, Marketbeat.com reports. The firm currently has $44.00 target price on the stock.

BOW has been the subject of a number of other research reports. Royal Bank of Canada upped their price target on Bowhead Specialty from $32.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. JMP Securities upped their price target on Bowhead Specialty from $32.00 to $33.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upped their price target on Bowhead Specialty from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.60.

Bowhead Specialty Stock Performance

Shares of BOW opened at $34.40 on Monday. Bowhead Specialty has a 52 week low of $22.14 and a 52 week high of $37.81. The stock’s 50-day moving average price is $32.91 and its 200-day moving average price is $32.09.

Bowhead Specialty (NYSE:BOW) last issued its earnings results on Tuesday, February 25th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. The company had revenue of $184.77 million during the quarter, compared to analysts’ expectations of $102.12 million. Research analysts predict that Bowhead Specialty will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling at Bowhead Specialty

In other news, Director Ava Schnidman bought 1,493 shares of Bowhead Specialty stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $33.41 per share, with a total value of $49,881.13. Following the completion of the acquisition, the director now directly owns 1,893 shares of the company’s stock, valued at $63,245.13. The trade was a 373.25 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Bowhead Specialty

A number of hedge funds have recently made changes to their positions in the company. Gallatin Point Capital LLC acquired a new position in shares of Bowhead Specialty during the fourth quarter valued at approximately $389,599,000. American Family Investments Inc. acquired a new stake in shares of Bowhead Specialty in the third quarter valued at approximately $169,826,000. Victory Capital Management Inc. increased its holdings in shares of Bowhead Specialty by 129.0% in the fourth quarter. Victory Capital Management Inc. now owns 1,508,003 shares of the company’s stock valued at $53,564,000 after purchasing an additional 849,408 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Bowhead Specialty by 3.6% in the fourth quarter. American Century Companies Inc. now owns 953,549 shares of the company’s stock valued at $33,870,000 after purchasing an additional 32,792 shares during the last quarter. Finally, Wasatch Advisors LP increased its holdings in shares of Bowhead Specialty by 125.3% in the fourth quarter. Wasatch Advisors LP now owns 812,901 shares of the company’s stock valued at $28,874,000 after purchasing an additional 452,033 shares during the last quarter.

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.