Bowhead Specialty (NYSE:BOW) Issues Earnings Results

Bowhead Specialty (NYSE:BOW) announced its quarterly earnings results on Tuesday. The company reported $0.38 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.38, Briefing.com reports. The firm had revenue of $116.76 million during the quarter, compared to analysts’ expectations of $113.00 million.

Bowhead Specialty Stock Performance

Shares of Bowhead Specialty stock traded up $1.24 during trading on Wednesday, reaching $31.04. The company’s stock had a trading volume of 162,243 shares, compared to its average volume of 183,020. Bowhead Specialty has a 52-week low of $22.14 and a 52-week high of $32.55. The firm has a 50-day simple moving average of $29.45.

Insider Buying and Selling

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of Bowhead Specialty stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $27.70, for a total value of $37,735,294.50. Following the transaction, the director now owns 4,700,761 shares in the company, valued at approximately $130,211,079.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BOW shares. Keefe, Bruyette & Woods upped their target price on shares of Bowhead Specialty from $30.00 to $33.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. JMP Securities upped their price target on shares of Bowhead Specialty from $32.00 to $33.00 and gave the stock a “market outperform” rating in a report on Wednesday. Finally, Royal Bank of Canada lifted their price objective on Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Bowhead Specialty currently has a consensus rating of “Hold” and a consensus price target of $30.80.

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.