Wasatch Advisors LP Buys 78,209 Shares of Bowhead Specialty Holdings Inc. $BOW

Wasatch Advisors LP lifted its position in Bowhead Specialty Holdings Inc. (NYSE:BOW) by 28.9% in the second quarter, Holdings Channel reports. The firm owned 348,437 shares of the company’s stock after buying an additional 78,209 shares during the period. Wasatch Advisors LP’s holdings in Bowhead Specialty were worth $10,429,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Martingale Asset Management L P increased its holdings in Bowhead Specialty by 1.9% during the 4th quarter. Martingale Asset Management L P now owns 25,791 shares of the company’s stock worth $736,000 after purchasing an additional 484 shares during the period. Invesco Ltd. lifted its holdings in shares of Bowhead Specialty by 3.5% in the 4th quarter. Invesco Ltd. now owns 14,484 shares of the company’s stock worth $413,000 after buying an additional 490 shares during the period. Royal Bank of Canada lifted its holdings in shares of Bowhead Specialty by 45.5% in the 4th quarter. Royal Bank of Canada now owns 2,065 shares of the company’s stock worth $59,000 after buying an additional 646 shares during the period. Jump Financial LLC grew its position in shares of Bowhead Specialty by 6.6% during the 4th quarter. Jump Financial LLC now owns 10,860 shares of the company’s stock worth $310,000 after buying an additional 673 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Bowhead Specialty by 262.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,037 shares of the company’s stock worth $31,000 after buying an additional 751 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Royal Bank Of Canada downgraded Bowhead Specialty from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $38.00 to $34.00 in a report on Tuesday, August 4th. Keefe, Bruyette & Woods increased their target price on shares of Bowhead Specialty from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft downgraded shares of Bowhead Specialty from a “buy” rating to a “hold” rating and set a $34.00 target price on the stock. in a research report on Monday, August 3rd. UBS Group set a $28.00 price target on shares of Bowhead Specialty in a report on Thursday, May 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of Bowhead Specialty from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Bowhead Specialty has an average rating of “Hold” and a consensus price target of $33.00.

Bowhead Specialty Trading Up 0.3%

Shares of NYSE:BOW opened at $33.56 on Thursday. The company has a market capitalization of $1.11 billion, a PE ratio of 18.14, a P/E/G ratio of 1.00 and a beta of -0.11. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.31. Bowhead Specialty Holdings Inc. has a 12-month low of $21.21 and a 12-month high of $35.07. The business’s fifty day simple moving average is $30.12 and its 200-day simple moving average is $26.57.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. Bowhead Specialty had a return on equity of 14.05% and a net margin of 10.11%.The firm had revenue of $163.86 million during the quarter, compared to analysts’ expectations of $278.69 million. As a group, equities research analysts predict that Bowhead Specialty Holdings Inc. will post 1.99 earnings per share for the current fiscal year.

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.