Bowhead Specialty (NYSE:BOW) Hits New 1-Year High Following Analyst Upgrade

Bowhead Specialty Holdings Inc. (NYSE:BOW)’s share price hit a new 52-week high during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $26.00 to $30.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Bowhead Specialty traded as high as $32.62 and last traded at $32.40, with a volume of 236621 shares trading hands. The stock had previously closed at $31.20.

A number of other equities research analysts also recently issued reports on BOW. JMP Securities lifted their price target on shares of Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a research report on Wednesday. Royal Bank of Canada lifted their target price on shares of Bowhead Specialty from $32.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Bowhead Specialty from $30.00 to $33.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.40.

Insider Buying and Selling at Bowhead Specialty

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

Institutional Investors Weigh In On Bowhead Specialty

A number of institutional investors have recently modified their holdings of BOW. Point72 Asset Management L.P. bought a new stake in shares of Bowhead Specialty during the 2nd quarter valued at about $117,000. Sandia Investment Management LP bought a new stake in shares of Bowhead Specialty during the 2nd quarter valued at about $127,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Bowhead Specialty during the 2nd quarter valued at about $192,000. Davidson Kempner Capital Management LP bought a new stake in shares of Bowhead Specialty during the 2nd quarter valued at about $253,000. Finally, TD Asset Management Inc bought a new stake in shares of Bowhead Specialty during the 2nd quarter valued at about $265,000.

Bowhead Specialty Stock Performance

The firm’s 50-day moving average price is $29.47.

Bowhead Specialty (NYSE:BOW) last posted its earnings results on Tuesday, November 5th. The company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The firm had revenue of $116.76 million during the quarter, compared to the consensus estimate of $113.00 million. Sell-side analysts predict that Bowhead Specialty Holdings Inc. will post 1.3 earnings per share for the current year.

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.