Royal Bank of Canada Issues Positive Forecast for Bowhead Specialty (NYSE:BOW) Stock Price

Bowhead Specialty (NYSE:BOW) had its target price hoisted by Royal Bank of Canada from $32.00 to $35.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

BOW has been the subject of several other research reports. Keefe, Bruyette & Woods increased their target price on shares of Bowhead Specialty from $30.00 to $33.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. JMP Securities increased their price objective on shares of Bowhead Specialty from $31.00 to $32.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.80.

Bowhead Specialty Trading Up 1.3 %

Shares of NYSE BOW traded up $0.40 during trading hours on Wednesday, hitting $31.60. 52,566 shares of the stock were exchanged, compared to its average volume of 182,886. Bowhead Specialty has a 1-year low of $22.14 and a 1-year high of $32.55. The firm has a fifty day moving average of $29.47.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The business had revenue of $116.76 million during the quarter, compared to the consensus estimate of $113.00 million. On average, equities research analysts forecast that Bowhead Specialty will post 1.3 earnings per share for the current year.

Insider Activity

In other Bowhead Specialty news, Director Family Mutual Insuran American sold 1,362,285 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $27.70, for a total value of $37,735,294.50. Following the completion of the transaction, the director now directly owns 4,700,761 shares in the company, valued at approximately $130,211,079.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Trading of Bowhead Specialty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BOW. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Bowhead Specialty by 0.5% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 194,333 shares of the company’s stock valued at $5,443,000 after purchasing an additional 937 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Bowhead Specialty during the 2nd quarter worth about $117,000. Sandia Investment Management LP acquired a new position in shares of Bowhead Specialty in the 2nd quarter valued at about $127,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Bowhead Specialty during the second quarter worth approximately $192,000. Finally, Emerald Advisers LLC increased its holdings in Bowhead Specialty by 3.3% in the third quarter. Emerald Advisers LLC now owns 242,633 shares of the company’s stock worth $6,796,000 after purchasing an additional 7,683 shares in 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.