Bowhead Specialty (NYSE:BOW) Price Target Raised to $40.00 at JMP Securities

Bowhead Specialty (NYSE:BOW) had its target price hoisted by JMP Securities from $38.00 to $40.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ target price indicates a potential upside of 5.51% from the company’s previous close.

A number of other research analysts also recently commented on BOW. JPMorgan Chase & Co. increased their target price on shares of Bowhead Specialty from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods cut their target price on Bowhead Specialty from $44.00 to $43.00 and set an “outperform” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Bowhead Specialty has an average rating of “Moderate Buy” and an average price target of $35.80.

Bowhead Specialty Stock Down 0.1 %

NYSE:BOW opened at $37.91 on Friday. Bowhead Specialty has a 1 year low of $22.14 and a 1 year high of $42.29. The stock has a 50-day simple moving average of $35.76 and a 200-day simple moving average of $33.73.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. The business had revenue of $184.77 million during the quarter, compared to analyst estimates of $102.12 million. On average, equities analysts expect that Bowhead Specialty will post 1.36 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ava Schnidman acquired 1,493 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $33.41 per share, for a total transaction of $49,881.13. Following the acquisition, the director now directly owns 1,893 shares in the company, valued at approximately $63,245.13. The trade was a 373.25 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. acquired a new stake in Bowhead Specialty during the 3rd quarter valued at approximately $1,829,000. Geode Capital Management LLC acquired a new position in Bowhead Specialty during the 3rd quarter worth $4,691,000. Barclays PLC bought a new stake in shares of Bowhead Specialty in the 3rd quarter worth about $479,000. Bank of New York Mellon Corp raised its stake in Bowhead Specialty by 180.6% during the fourth quarter. Bank of New York Mellon Corp now owns 29,550 shares of the company’s stock valued at $1,050,000 after buying an additional 19,018 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Bowhead Specialty by 89.5% during the 4th quarter. Rhumbline Advisers now owns 12,601 shares of the company’s stock worth $448,000 after buying an additional 5,953 shares during the last quarter.

About Bowhead Specialty

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.