Bowhead Specialty (NYSE:BOW) Sees Large Volume Increase – Here’s Why

Bowhead Specialty Holdings Inc. (NYSE:BOW) saw an uptick in trading volume on Wednesday . Approximately 600,880 shares traded hands during trading, an increase of 179% from the previous session’s volume of 215,080 shares.The stock last traded at $33.57 and had previously closed at $33.48.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BOW. Piper Sandler downgraded shares of Bowhead Specialty from an “overweight” rating to a “hold” rating and set a $34.00 price objective on the stock. in a research report on Monday. Royal Bank Of Canada lowered shares of Bowhead Specialty from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $38.00 to $34.00 in a research note on Tuesday. Morgan Stanley increased their price target on Bowhead Specialty from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Deutsche Bank Aktiengesellschaft downgraded Bowhead Specialty from a “buy” rating to a “hold” rating and set a $34.00 price target on the stock. in a research note on Monday. Finally, UBS Group set a $28.00 price objective on Bowhead Specialty in a report on Thursday, May 21st. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.00.

Bowhead Specialty Stock Performance

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 stock has a market cap of $1.11 billion, a P/E ratio of 19.45, a P/E/G ratio of 1.02 and a beta of -0.11. The business’s 50-day moving average price is $29.23 and its 200-day moving average price is $26.20.

Bowhead Specialty (NYSE:BOW) last announced its earnings results on Monday, August 3rd. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The company had revenue of $163.86 million for the quarter, compared to analysts’ expectations of $278.69 million. Bowhead Specialty had a return on equity of 14.26% and a net margin of 10.11%. As a group, sell-side analysts expect that Bowhead Specialty Holdings Inc. will post 1.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. American Family Investments Inc. lifted its position in shares of Bowhead Specialty by 6.9% during the 2nd quarter. American Family Investments Inc. now owns 5,023,778 shares of the company’s stock valued at $188,542,000 after buying an additional 323,017 shares in the last quarter. Victory Capital Management Inc. raised its stake in Bowhead Specialty by 2.6% during the 4th quarter. Victory Capital Management Inc. now owns 1,564,326 shares of the company’s stock worth $44,646,000 after acquiring an additional 39,041 shares during the period. Vanguard Group Inc. raised its stake 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. Polar Capital Holdings Plc lifted its holdings in Bowhead Specialty by 77.6% during the fourth quarter. Polar Capital Holdings Plc now owns 1,225,000 shares of the company’s stock valued at $34,962,000 after purchasing an additional 535,065 shares in the last quarter. Finally, Wasatch Advisors LP boosted its position in shares of Bowhead Specialty by 18.7% in the fourth quarter. Wasatch Advisors LP now owns 721,797 shares of the company’s stock worth $20,600,000 after purchasing an additional 113,840 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.