Seven Grand Managers LLC Trims Stake in Bowhead Specialty Holdings Inc. $BOW

Seven Grand Managers LLC reduced its position in Bowhead Specialty Holdings Inc. (NYSE:BOW) by 50.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 37,500 shares of the company’s stock after selling 37,500 shares during the period. Seven Grand Managers LLC owned 0.11% of Bowhead Specialty worth $1,070,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BOW. Royal Bank of Canada lifted its holdings in shares of Bowhead Specialty by 112.7% in the 1st quarter. Royal Bank of Canada now owns 5,406 shares of the company’s stock valued at $219,000 after purchasing an additional 2,864 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Bowhead Specialty in the 1st quarter valued at about $430,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Bowhead Specialty by 42.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,389 shares of the company’s stock valued at $382,000 after purchasing an additional 2,802 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Bowhead Specialty by 75.8% in the 1st quarter. Millennium Management LLC now owns 250,277 shares of the company’s stock valued at $10,174,000 after purchasing an additional 107,896 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new stake in shares of Bowhead Specialty in the 1st quarter valued at about $206,000.

Bowhead Specialty Stock Performance

Shares of BOW stock opened at $26.98 on Thursday. The stock has a market capitalization of $886.02 million, a PE ratio of 15.60, a price-to-earnings-growth ratio of 0.82 and a beta of -0.15. Bowhead Specialty Holdings Inc. has a 52-week low of $21.21 and a 52-week high of $37.98. The stock’s 50-day moving average price is $24.66 and its 200 day moving average price is $25.48. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.32.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.06. The firm had revenue of $155.69 million for the quarter, compared to analysts’ expectations of $211.74 million. Bowhead Specialty had a return on equity of 13.80% and a net margin of 9.99%. As a group, equities research analysts forecast that Bowhead Specialty Holdings Inc. will post 2 EPS for the current year.

Wall Street Analyst Weigh In

BOW has been the subject of several research reports. Citizens Jmp reduced their target price on Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating for the company in a report on Monday, April 13th. Keefe, Bruyette & Woods boosted their target price on Bowhead Specialty from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Royal Bank Of Canada reduced their target price on Bowhead Specialty from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Morgan Stanley boosted their target price on Bowhead Specialty from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Finally, Piper Sandler boosted their price target on Bowhead Specialty from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.43.

Bowhead Specialty 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.