Bowhead Specialty (NYSE:BOW) Hits New 52-Week High – Still a Buy?

Bowhead Specialty Holdings Inc. (NYSE:BOW) reached a new 52-week high on Tuesday . The stock traded as high as $37.81 and last traded at $37.61, with a volume of 41195 shares trading hands. The stock had previously closed at $36.52.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upgraded Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 price target for the company in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Bowhead Specialty has an average rating of “Moderate Buy” and a consensus target price of $33.60.

Bowhead Specialty Stock Performance

The firm has a fifty day simple moving average of $33.11 and a two-hundred day simple moving average of $32.44.

Bowhead Specialty (NYSE:BOW) last announced its earnings results on Tuesday, February 25th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. The company had revenue of $184.77 million during the quarter, compared to analysts’ expectations of $102.12 million. As a group, equities research analysts expect that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Insider Transactions at Bowhead Specialty

In related news, Director Ava Schnidman bought 1,493 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was purchased at an average price 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 $63,245.13. This trade represents a 373.25 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On Bowhead Specialty

Institutional investors and hedge funds have recently modified their holdings of the stock. Summit Investment Advisors Inc. boosted its holdings in Bowhead Specialty by 66.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company’s stock valued at $43,000 after acquiring an additional 486 shares during the period. New York State Common Retirement Fund purchased a new position in Bowhead Specialty during the 4th quarter valued at $64,000. US Bancorp DE purchased a new position in Bowhead Specialty during the 4th quarter valued at $76,000. KLP Kapitalforvaltning AS purchased a new position in Bowhead Specialty during the 4th quarter valued at $107,000. Finally, Pictet Asset Management Holding SA purchased a new position in Bowhead Specialty during the 4th quarter valued at $145,000.

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.