Bowhead Specialty (NYSE:BOW) Trading 4.2% Higher – Here’s What Happened

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) traded up 4.2% during trading on Thursday . The company traded as high as $38.61 and last traded at $38.87. 54,680 shares were traded during mid-day trading, a decline of 70% from the average session volume of 185,117 shares. The stock had previously closed at $37.30.

Wall Street Analysts Forecast Growth

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

Bowhead Specialty Stock Up 3.8 %

The business’s fifty day moving average price is $33.11 and its 200 day moving average price is $32.44.

Bowhead Specialty (NYSE:BOW) last released its earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. The firm had revenue of $184.77 million for the quarter, compared to analyst estimates of $102.12 million. On average, equities research analysts forecast that Bowhead Specialty Holdings Inc. will post 1.36 EPS for the current fiscal year.

Insider Transactions at Bowhead Specialty

In related news, Director Ava Schnidman acquired 1,493 shares of the company’s stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of $33.41 per share, for a total transaction of $49,881.13. Following the purchase, the director now owns 1,893 shares in the company, valued at approximately $63,245.13. The trade was a 373.25 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On Bowhead Specialty

Several large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. bought a new stake in shares of Bowhead Specialty during the 3rd quarter worth $1,829,000. Geode Capital Management LLC purchased a new position in Bowhead Specialty during the 3rd quarter valued at about $4,691,000. Barclays PLC purchased a new position in shares of Bowhead Specialty during the third quarter worth about $479,000. Rhumbline Advisers grew its holdings in shares of Bowhead Specialty by 89.5% during the fourth quarter. Rhumbline Advisers now owns 12,601 shares of the company’s stock worth $448,000 after purchasing an additional 5,953 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in shares of Bowhead Specialty during the third quarter worth about $1,382,000.

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.