Victory Capital Management Inc. Raises Stock Position in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Victory Capital Management Inc. increased its stake in Bowhead Specialty Holdings Inc. (NYSE:BOW) by 129.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,508,003 shares of the company’s stock after purchasing an additional 849,408 shares during the quarter. Victory Capital Management Inc. owned 4.62% of Bowhead Specialty worth $53,564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. American Family Investments Inc. purchased a new position in shares of Bowhead Specialty during the 3rd quarter worth $169,826,000. Wasatch Advisors LP boosted its stake in shares of Bowhead Specialty by 16.9% during the 3rd quarter. Wasatch Advisors LP now owns 360,868 shares of the company’s stock worth $10,108,000 after acquiring an additional 52,296 shares during the last quarter. Peregrine Capital Management LLC boosted its stake in shares of Bowhead Specialty by 143.3% during the 4th quarter. Peregrine Capital Management LLC now owns 295,723 shares of the company’s stock worth $10,504,000 after acquiring an additional 174,172 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Bowhead Specialty by 10.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 257,870 shares of the company’s stock worth $7,223,000 after acquiring an additional 25,304 shares during the last quarter. Finally, Geode Capital Management LLC purchased a new position in shares of Bowhead Specialty during the 3rd quarter worth $4,691,000.

Bowhead Specialty Stock Performance

Shares of BOW stock opened at $33.54 on Friday. Bowhead Specialty Holdings Inc. has a one year low of $22.14 and a one year high of $37.81. The company’s fifty day moving average price is $32.86 and its 200-day moving average price is $32.15.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.35 by $0.07. The firm had revenue of $184.77 million for the quarter, compared to the consensus estimate of $102.12 million. Equities research analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upgraded shares of Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.60.

Insider Activity

In related news, Director Ava Schnidman purchased 1,493 shares of Bowhead Specialty stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $33.41 per share, for a total transaction of $49,881.13. Following the acquisition, the director now owns 1,893 shares in the company, valued at approximately $63,245.13. The trade was a 373.25 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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.