Morgan Stanley Cuts Bowhead Specialty (NYSE:BOW) Price Target to $25.00

Bowhead Specialty (NYSE:BOW) had its price objective trimmed by Morgan Stanley from $27.00 to $25.00 in a report issued on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities research analysts also recently issued reports on the company. Keefe, Bruyette & Woods upgraded Bowhead Specialty from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, March 16th. Royal Bank Of Canada decreased their price target on Bowhead Specialty from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Zacks Research upgraded Bowhead Specialty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Bowhead Specialty in a research note on Friday, March 27th. Finally, Piper Sandler upped their price objective on Bowhead Specialty from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $32.67.

Bowhead Specialty Trading Up 3.6%

Shares of Bowhead Specialty stock opened at $23.83 on Monday. The stock has a fifty day simple moving average of $23.71 and a 200 day simple moving average of $25.45. Bowhead Specialty has a 12-month low of $21.21 and a 12-month high of $41.98. The company has a market capitalization of $782.48 million, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 0.68 and a beta of -0.49. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. Bowhead Specialty had a return on equity of 13.27% and a net margin of 9.75%.The business had revenue of $151.68 million during the quarter, compared to the consensus estimate of $145.99 million. On average, sell-side analysts anticipate that Bowhead Specialty will post 1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BOW. Langdon Equity Partners bought a new position in shares of Bowhead Specialty during the 4th quarter worth $28,000. State of Alaska Department of Revenue bought a new position in shares of Bowhead Specialty during the 3rd quarter worth $42,000. CWM LLC grew its stake in shares of Bowhead Specialty by 257.7% during the 4th quarter. CWM LLC now owns 1,481 shares of the company’s stock worth $42,000 after acquiring an additional 1,067 shares during the period. Raymond James Financial Inc. bought a new position in shares of Bowhead Specialty during the 2nd quarter worth $52,000. Finally, Royal Bank of Canada grew its stake in shares of Bowhead Specialty by 45.5% during the 4th quarter. Royal Bank of Canada now owns 2,065 shares of the company’s stock worth $59,000 after acquiring an additional 646 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.