Bowhead Specialty (NYSE:BOW) Sets New 52-Week High – Time to Buy?

Bowhead Specialty Holdings Inc. (NYSE:BOW)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $36.16 and last traded at $36.15, with a volume of 2158 shares. The stock had previously closed at $35.80.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Bowhead Specialty from $30.00 to $33.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. increased their price objective on Bowhead Specialty from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their target price on Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, JMP Securities increased their price target on Bowhead Specialty from $32.00 to $33.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.40.

Bowhead Specialty Stock Up 1.3 %

The business has a fifty day moving average of $30.30.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. The firm had revenue of $116.76 million during the quarter, compared to the consensus estimate of $113.00 million. As a group, sell-side analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Bowhead Specialty

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $27.70, for a total transaction of $37,735,294.50. Following the completion of the sale, the director now directly owns 4,700,761 shares of the company’s stock, valued at $130,211,079.70. This trade represents a 22.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Investors Weigh In On Bowhead Specialty

Hedge funds have recently modified their holdings of the stock. Emerald Mutual Fund Advisers Trust raised its holdings in shares of Bowhead Specialty by 0.5% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 194,333 shares of the company’s stock valued at $5,443,000 after acquiring an additional 937 shares during the period. The Manufacturers Life Insurance Company raised its stake in Bowhead Specialty by 5.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 60,508 shares of the company’s stock valued at $1,695,000 after purchasing an additional 2,976 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of Bowhead Specialty in the third quarter valued at $123,000. New Vernon Investment Management LLC acquired a new stake in shares of Bowhead Specialty in the third quarter worth $127,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Bowhead Specialty during the second quarter valued at $117,000.

Bowhead Specialty Company Profile

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.