Emerald Advisers LLC Cuts Position in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Emerald Advisers LLC cut its stake in Bowhead Specialty Holdings Inc. (NYSE:BOW) by 0.9% during the fourth quarter, HoldingsChannel reports. The fund owned 240,466 shares of the company’s stock after selling 2,167 shares during the quarter. Emerald Advisers LLC’s holdings in Bowhead Specialty were worth $8,541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BOW. New York State Common Retirement Fund acquired a new stake in shares of Bowhead Specialty in the 4th quarter worth $64,000. US Bancorp DE acquired a new stake in shares of Bowhead Specialty in the 4th quarter worth $76,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Bowhead Specialty in the 4th quarter worth $107,000. MetLife Investment Management LLC acquired a new stake in shares of Bowhead Specialty in the 3rd quarter worth $123,000. Finally, New Vernon Investment Management LLC acquired a new stake in shares of Bowhead Specialty in the 3rd quarter worth $127,000.

Bowhead Specialty Price Performance

Shares of NYSE:BOW opened at $37.90 on Friday. Bowhead Specialty Holdings Inc. has a 12-month low of $22.14 and a 12-month high of $39.43. The business has a 50 day moving average of $33.36 and a two-hundred day moving average of $32.54.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. The company had revenue of $184.77 million during the quarter, compared to analyst estimates of $102.12 million. As a group, equities analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.60.

Insider Transactions at Bowhead Specialty

In other Bowhead Specialty news, Director Ava Schnidman bought 1,493 shares of Bowhead Specialty stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $33.41 per share, with a total value of $49,881.13. Following the purchase, the director now directly owns 1,893 shares in the company, valued at $63,245.13. This represents a 373.25 % increase in their position. The acquisition was disclosed in a filing with the SEC, 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.