Bowhead Specialty (NYSE:BOW) Sees Large Volume Increase – Still a Buy?

Bowhead Specialty Holdings Inc. (NYSE:BOW) shares saw an uptick in trading volume on Tuesday. Approximately 428,981 shares changed hands during trading, an increase of 75% from the average daily volume of 245,405 shares. The stock last traded at $34.2580 and had previously closed at $34.14.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Citigroup cut shares of Bowhead Specialty to a “market perform” rating in a research report on Thursday, September 10th. Keefe, Bruyette & Woods raised their target price on shares of Bowhead Specialty from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. upped their price target on Bowhead Specialty from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Morgan Stanley boosted their price target on shares of Bowhead Specialty from $30.00 to $34.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of Bowhead Specialty in a research note on Thursday, September 10th. One analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Bowhead Specialty has a consensus rating of “Hold” and a consensus target price of $33.50.

Bowhead Specialty Stock Performance

The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.31. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.01 and a beta of -0.07. The firm’s fifty day moving average price is $33.79 and its 200-day moving average price is $28.35.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. The business had revenue of $163.86 million during the quarter, compared to the consensus estimate of $278.69 million. Bowhead Specialty had a return on equity of 14.05% and a net margin of 10.11%. Analysts expect that Bowhead Specialty Holdings Inc. will post 2.00 earnings per share for the current year.

Institutional Trading of Bowhead Specialty

A number of hedge funds have recently bought and sold shares of the company. Simplicity Wealth LLC acquired a new stake in Bowhead Specialty in the 3rd quarter worth about $212,000. Nisa Investment Advisors LLC boosted its holdings in Bowhead Specialty by 144.3% in the third quarter. Nisa Investment Advisors LLC now owns 4,231 shares of the company’s stock worth $143,000 after purchasing an additional 2,499 shares during the period. Counterpoint Mutual Funds LLC bought a new position in shares of Bowhead Specialty during the third quarter worth about $677,000. Integrated Wealth Concepts LLC bought a new position in shares of Bowhead Specialty in the second quarter valued at approximately $35,000. Finally, American Family Investments Inc. acquired a new stake in shares of Bowhead Specialty during the second quarter worth $140,693,777.

About Bowhead Specialty

Bowhead Specialty (NYSE:BOW) is a specialty insurance holding company that provides coverage for complex and hard-to-place risks. Through its insurance subsidiaries, the company primarily underwrites specialty products for businesses and organizations across the United States.

Its offerings include casualty insurance, professional liability coverage, healthcare-related liability products and other specialty lines. Bowhead distributes its products primarily through wholesale insurance brokers, serving customers whose needs may not be met by standard commercial insurance carriers.

The company was established in 2020 and became a publicly traded company in 2024.