Bowhead Specialty (NYSE:BOW) Given New $34.00 Price Target at Keefe, Bruyette & Woods

Bowhead Specialty (NYSE:BOW) had its price objective hoisted by Keefe, Bruyette & Woods from $31.00 to $34.00 in a report published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages also recently issued reports on BOW. Royal Bank Of Canada reduced their price objective on Bowhead Specialty from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Citizens Jmp reduced their price objective on Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating for the company in a research note on Monday, April 13th. Zacks Research raised Bowhead Specialty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Weiss Ratings raised Bowhead Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Finally, Morgan Stanley increased their price objective on Bowhead Specialty from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Bowhead Specialty currently has an average rating of “Moderate Buy” and an average price target of $31.83.

Bowhead Specialty Stock Down 1.6%

Shares of NYSE:BOW opened at $27.44 on Wednesday. The firm has a 50 day simple moving average of $23.72 and a 200 day simple moving average of $25.24. Bowhead Specialty has a 52 week low of $21.21 and a 52 week high of $39.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market cap of $901.13 million, a PE ratio of 15.86, a price-to-earnings-growth ratio of 0.84 and a beta of -0.15.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.48 earnings per share for the quarter, topping 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 net margin of 9.99% and a return on equity of 13.80%. As a group, research analysts expect that Bowhead Specialty will post 1.96 earnings per share for the current year.

Institutional Trading of Bowhead Specialty

A number of institutional investors and hedge funds have recently made changes to their positions in BOW. Sei Investments Co. grew its position in shares of Bowhead Specialty by 22.6% in the first quarter. Sei Investments Co. now owns 17,088 shares of the company’s stock valued at $383,000 after purchasing an additional 3,149 shares during the last quarter. State of Wyoming acquired a new position in shares of Bowhead Specialty during the 1st quarter worth about $158,000. First Trust Advisors LP lifted its position in shares of Bowhead Specialty by 374.0% during the 1st quarter. First Trust Advisors LP now owns 172,305 shares of the company’s stock worth $3,865,000 after purchasing an additional 135,954 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Bowhead Specialty by 61.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 256,645 shares of the company’s stock valued at $5,756,000 after purchasing an additional 97,494 shares during the period. Finally, Parallel Advisors LLC boosted its stake in Bowhead Specialty by 181.4% during the 1st quarter. Parallel Advisors LLC now owns 1,652 shares of the company’s stock valued at $37,000 after purchasing an additional 1,065 shares during the period.

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.