Bowhead Specialty (NYSE:BOW) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Bowhead Specialty (NYSE:BOW) announced its quarterly earnings results on Monday. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01, FiscalAI reports. Bowhead Specialty had a net margin of 9.99% and a return on equity of 13.80%. The firm had revenue of $163.86 million for the quarter, compared to the consensus estimate of $278.69 million.

Bowhead Specialty Stock Performance

Shares of NYSE BOW opened at $30.61 on Monday. The stock’s 50-day moving average is $29.00 and its 200 day moving average is $26.07. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 0.92 and a beta of -0.10. Bowhead Specialty has a 1-year low of $21.21 and a 1-year high of $33.20. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.32.

Wall Street Analyst Weigh In

BOW has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on shares of Bowhead Specialty from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Keefe, Bruyette & Woods upped their target price on Bowhead Specialty from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Citizens Jmp dropped their price target on Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating for the company in a research report on Monday, April 13th. UBS Group set a $28.00 price objective on shares of Bowhead Specialty in a research report on Thursday, May 21st. Finally, Piper Sandler lifted their target price on shares of Bowhead Specialty from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BOW. Martingale Asset Management L P increased its holdings in shares of Bowhead Specialty by 1.9% in the fourth quarter. Martingale Asset Management L P now owns 25,791 shares of the company’s stock worth $736,000 after buying an additional 484 shares during the period. Invesco Ltd. lifted its position in Bowhead Specialty by 3.5% in the fourth quarter. Invesco Ltd. now owns 14,484 shares of the company’s stock valued at $413,000 after purchasing an additional 490 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Bowhead Specialty by 45.5% during the fourth quarter. Royal Bank of Canada now owns 2,065 shares of the company’s stock valued at $59,000 after purchasing an additional 646 shares during the period. Jump Financial LLC increased its position in shares of Bowhead Specialty by 6.6% in the fourth quarter. Jump Financial LLC now owns 10,860 shares of the company’s stock valued at $310,000 after acquiring an additional 673 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Bowhead Specialty by 99.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,926 shares of the company’s stock worth $72,000 after purchasing an additional 958 shares during the period.

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.