Bowhead Specialty (NYSE:BOW) Given New $35.00 Price Target at Royal Bank of Canada

Bowhead Specialty (NYSE:BOW) had its target price lifted by stock analysts at Royal Bank of Canada from $32.00 to $35.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 11.36% from the stock’s current price.

A number of other research firms have also commented on BOW. Keefe, Bruyette & Woods raised 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. JMP Securities lifted their target price on shares of Bowhead Specialty from $31.00 to $32.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.60.

Bowhead Specialty Stock Up 5.5 %

Shares of BOW traded up $1.63 during trading hours on Wednesday, hitting $31.43. The company’s stock had a trading volume of 83,791 shares, compared to its average volume of 182,337. The company has a 50 day moving average price of $29.45. Bowhead Specialty has a 52-week low of $22.14 and a 52-week high of $32.55.

Bowhead Specialty (NYSE:BOW) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.38 EPS for the quarter, meeting 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. On average, sell-side analysts expect that Bowhead Specialty will post 1.3 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 business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $27.70, for a total value of $37,735,294.50. Following the completion of the sale, the director now directly owns 4,700,761 shares in the company, valued at approximately $130,211,079.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Bowhead Specialty

A number of hedge funds have recently made changes to their positions in BOW. Peregrine Capital Management LLC purchased a new position in shares of Bowhead Specialty in the second quarter worth $3,073,000. Lighthouse Investment Partners LLC purchased a new stake in shares of Bowhead Specialty in the 2nd quarter worth about $2,653,000. Sei Investments Co. purchased a new stake in shares of Bowhead Specialty in the 2nd quarter worth about $2,021,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Bowhead Specialty in the 2nd quarter worth about $1,458,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Bowhead Specialty in the 2nd quarter worth about $4,901,000.

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.