Bowhead Specialty (NYSE:BOW) Sets New 12-Month High – Should You Buy?

Bowhead Specialty Holdings Inc. (NYSE:BOW) hit a new 52-week high on Monday . The company traded as high as $36.16 and last traded at $36.15, with a volume of 2158 shares trading hands. The stock had previously closed at $35.80.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BOW. Royal Bank of Canada increased their target price on shares of Bowhead Specialty from $32.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. increased their price target on Bowhead Specialty from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods lifted their target price on shares of Bowhead Specialty from $30.00 to $33.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, JMP Securities raised their price target on Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.40.

Bowhead Specialty Stock Up 1.3 %

The stock’s fifty day simple moving average is $30.30.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $116.76 million for the quarter, compared to analysts’ expectations of $113.00 million. On average, research analysts expect that Bowhead Specialty Holdings Inc. will post 1.38 EPS for the current year.

Insider Activity

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $27.70, for a total transaction of $37,735,294.50. Following the completion of the transaction, the director now directly owns 4,700,761 shares in the company, valued at approximately $130,211,079.70. This represents a 22.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional Trading of Bowhead Specialty

Several institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new position in shares of Bowhead Specialty in the 2nd quarter valued at about $117,000. MetLife Investment Management LLC bought a new position in Bowhead Specialty in the third quarter worth about $123,000. Sandia Investment Management LP acquired a new position in Bowhead Specialty in the second quarter valued at approximately $127,000. New Vernon Investment Management LLC bought a new position in shares of Bowhead Specialty during the third quarter valued at approximately $127,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Bowhead Specialty during the 3rd quarter worth approximately $157,000.

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.