Keefe, Bruyette & Woods Has Lowered Expectations for Bowhead Specialty (NYSE:BOW) Stock Price

Bowhead Specialty (NYSE:BOW) had its price target dropped by analysts at Keefe, Bruyette & Woods from $38.00 to $36.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 34.73% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. JMP Securities cut their price target on shares of Bowhead Specialty from $43.00 to $40.00 and set a “market outperform” rating for the company in a report on Tuesday, October 14th. Royal Bank Of Canada initiated coverage on shares of Bowhead Specialty in a research note on Monday, November 24th. They set an “outperform” rating and a $33.00 target price for the company. JPMorgan Chase & Co. reduced their target price on shares of Bowhead Specialty from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Morgan Stanley decreased their price target on shares of Bowhead Specialty from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, November 17th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Bowhead Specialty in a research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.83.

Bowhead Specialty Trading Down 4.5%

NYSE:BOW traded down $1.26 during midday trading on Tuesday, hitting $26.72. 70,447 shares of the stock were exchanged, compared to its average volume of 149,705. The company has a market capitalization of $875.96 million, a price-to-earnings ratio of 17.13 and a beta of -1.06. Bowhead Specialty has a one year low of $23.50 and a one year high of $42.29. The business has a 50-day moving average price of $27.06 and a two-hundred day moving average price of $29.35.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings results on Monday, August 26th. The company reported $0.27 earnings per share (EPS) for the quarter. The company had revenue of $65.45 million for the quarter. Bowhead Specialty had a return on equity of 13.53% and a net margin of 10.12%. Sell-side analysts forecast that Bowhead Specialty will post 1.36 EPS for the current fiscal year.

Institutional Trading of Bowhead Specialty

Large investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC raised its position in Bowhead Specialty by 30.4% during the first quarter. MetLife Investment Management LLC now owns 9,474 shares of the company’s stock valued at $385,000 after acquiring an additional 2,210 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Bowhead Specialty by 112.7% during the 1st quarter. Royal Bank of Canada now owns 5,406 shares of the company’s stock worth $219,000 after purchasing an additional 2,864 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Bowhead Specialty during the 1st quarter valued at $430,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Bowhead Specialty by 21.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 106,043 shares of the company’s stock valued at $4,311,000 after purchasing an additional 18,989 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Bowhead Specialty by 42.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,389 shares of the company’s stock worth $382,000 after purchasing an additional 2,802 shares in 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.