Bowhead Specialty (NYSE:BOW) Hits New 52-Week High – Should You Buy?

Bowhead Specialty Holdings Inc. (NYSE:BOW)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $34.51 and last traded at $34.51, with a volume of 23223 shares. The stock had previously closed at $33.72.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Bowhead Specialty from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods boosted 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 boosted their target price on shares of Bowhead Specialty from $32.00 to $33.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their target price on shares of Bowhead Specialty from $32.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $31.40.

Bowhead Specialty Stock Performance

The business’s fifty day moving average price is $29.78.

Bowhead Specialty (NYSE:BOW) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.38 earnings per share 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. Analysts predict that Bowhead Specialty Holdings Inc. will post 1.38 EPS for the current fiscal year.

Insider Buying and Selling at Bowhead Specialty

In other Bowhead Specialty news, Director Family Mutual Insuran American sold 1,362,285 shares of the firm’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 transaction of $37,735,294.50. Following the completion of the transaction, the director now owns 4,700,761 shares of the company’s stock, valued at approximately $130,211,079.70. This trade represents a 22.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BOW. Point72 Asset Management L.P. purchased a new position in shares of Bowhead Specialty in the 2nd quarter worth about $117,000. MetLife Investment Management LLC bought a new position in Bowhead Specialty during the 3rd quarter valued at about $123,000. Sandia Investment Management LP bought a new position in Bowhead Specialty during the 2nd quarter valued at about $127,000. New Vernon Investment Management LLC bought a new position in Bowhead Specialty during the 3rd quarter valued at about $127,000. Finally, Quantbot Technologies LP bought a new position in Bowhead Specialty during the 3rd quarter valued at about $157,000.

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.