Bowhead Specialty’s (BOW) Market Perform Rating Reiterated at Citizens Jmp

Citizens Jmp restated their market perform rating on shares of Bowhead Specialty (NYSE:BOW) in a report issued on Thursday morning, MarketBeat.com reports.

Several other brokerages have also issued reports on BOW. Citigroup lowered Bowhead Specialty to a “market perform” rating in a research note on Thursday. Royal Bank Of Canada downgraded shares of Bowhead Specialty from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $38.00 to $34.00 in a research note on Tuesday, August 4th. Piper Sandler lowered shares of Bowhead Specialty from an “overweight” rating to a “hold” rating and set a $34.00 price objective for the company. in a report on Monday, August 3rd. Weiss Ratings raised shares of Bowhead Specialty from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Bowhead Specialty from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.50.

Bowhead Specialty Stock Performance

Bowhead Specialty stock opened at $33.71 on Thursday. Bowhead Specialty has a fifty-two week low of $21.21 and a fifty-two week high of $35.07. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a market cap of $1.11 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 0.99 and a beta of -0.08. The firm’s fifty day moving average price is $32.55 and its 200-day moving average price is $27.92.

Bowhead Specialty (NYSE:BOW) last announced its earnings results on Monday, August 3rd. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. Bowhead Specialty had a net margin of 10.11% and a return on equity of 14.05%. The company had revenue of $163.86 million during the quarter, compared to analyst estimates of $278.69 million. On average, equities research analysts expect that Bowhead Specialty will post 2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bowhead Specialty

A number of large investors have recently modified their holdings of the stock. Martingale Asset Management L P grew its position in shares of Bowhead Specialty by 1.9% in the 4th quarter. Martingale Asset Management L P now owns 25,791 shares of the company’s stock worth $736,000 after buying an additional 484 shares during the period. Invesco Ltd. lifted its position in Bowhead Specialty by 3.5% during the 4th quarter. Invesco Ltd. now owns 14,484 shares of the company’s stock valued at $413,000 after acquiring an additional 490 shares during the period. Royal Bank of Canada lifted its position in Bowhead Specialty by 45.5% during the 4th quarter. Royal Bank of Canada now owns 2,065 shares of the company’s stock valued at $59,000 after acquiring an additional 646 shares during the period. Jump Financial LLC boosted its stake in Bowhead Specialty by 6.6% during the fourth quarter. Jump Financial LLC now owns 10,860 shares of the company’s stock worth $310,000 after acquiring an additional 673 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Bowhead Specialty by 262.6% during the second quarter. Versant Capital Management Inc now owns 1,037 shares of the company’s stock worth $31,000 after acquiring an additional 751 shares in the last quarter.

Bowhead Specialty Company Profile

Bowhead Specialty Holdings Inc is a specialty insurance company that provides coverage in the excess and surplus (E&S) and specialty admitted insurance markets. Through its insurance operations, the company focuses on risks that may require specialized underwriting expertise or customized policy terms beyond those typically available through standard commercial insurance.

Its offerings include commercial casualty, professional liability, healthcare liability and other specialty commercial insurance products.