Victory Capital Management Inc. Buys 536,817 Shares of Bowhead Specialty Holdings Inc. $BOW

Victory Capital Management Inc. grew its position in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) by 54.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,525,285 shares of the company’s stock after purchasing an additional 536,817 shares during the quarter. Victory Capital Management Inc. owned about 4.65% of Bowhead Specialty worth $41,244,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. American Century Companies Inc. raised its stake in Bowhead Specialty by 73.3% during the third quarter. American Century Companies Inc. now owns 1,412,408 shares of the company’s stock worth $38,192,000 after buying an additional 597,191 shares during the last quarter. Quantbot Technologies LP grew its holdings in Bowhead Specialty by 20.4% during the 3rd quarter. Quantbot Technologies LP now owns 43,348 shares of the company’s stock worth $1,172,000 after acquiring an additional 7,339 shares during the period. Vanguard Group Inc. grew its holdings in Bowhead Specialty by 36.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,506,887 shares of the company’s stock worth $40,746,000 after acquiring an additional 404,199 shares during the period. Principal Financial Group Inc. bought a new position in shares of Bowhead Specialty in the 3rd quarter worth about $883,000. Finally, Keybank National Association OH bought a new position in shares of Bowhead Specialty in the 3rd quarter worth about $228,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank Of Canada cut their target price on Bowhead Specialty from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Piper Sandler lifted their target price on Bowhead Specialty from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. Zacks Research raised Bowhead Specialty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Morgan Stanley cut their price target on Bowhead Specialty from $31.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, November 17th. Finally, Weiss Ratings reaffirmed 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 issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.33.

Bowhead Specialty Stock Performance

Shares of BOW opened at $23.81 on Friday. Bowhead Specialty Holdings Inc. has a one year low of $22.15 and a one year high of $42.29. The company has a market cap of $780.49 million, a PE ratio of 14.97, a P/E/G ratio of 0.72 and a beta of -1.06. The stock has a 50-day moving average of $25.25 and a 200-day moving average of $26.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.52 and a quick ratio of 0.52.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $151.68 million during the quarter, compared to analysts’ expectations of $145.99 million. Bowhead Specialty had a return on equity of 13.27% and a net margin of 9.75%. On average, equities research analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 EPS for the current fiscal year.

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.