Moneco Advisors LLC Purchases New Position in Bowhead Specialty Holdings Inc. $BOW

Moneco Advisors LLC acquired a new position in Bowhead Specialty Holdings Inc. (NYSE:BOW) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,390 shares of the company’s stock, valued at approximately $520,000.

Other hedge funds also recently added to or reduced their stakes in the company. American Family Investments Inc. purchased a new stake in Bowhead Specialty during the 2nd quarter valued at $140,693,777. Wasatch Advisors LP increased its holdings in shares of Bowhead Specialty by 28.9% in the 2nd quarter. Wasatch Advisors LP now owns 348,437 shares of the company’s stock worth $10,429,000 after purchasing an additional 78,209 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Bowhead Specialty by 61.3% in the first quarter. Dimensional Fund Advisors LP now owns 256,645 shares of the company’s stock worth $5,756,000 after purchasing an additional 97,494 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Bowhead Specialty by 374.0% in the first quarter. First Trust Advisors LP now owns 172,305 shares of the company’s stock worth $3,865,000 after purchasing an additional 135,954 shares during the last quarter. Finally, Steelhead Wealth Management LLC purchased a new position in shares of Bowhead Specialty in the first quarter worth $2,143,000.

Analyst Ratings Changes

Several equities research analysts recently commented on BOW shares. Morgan Stanley increased their price objective on Bowhead Specialty from $30.00 to $34.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. Citizens Jmp lowered Bowhead Specialty from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 10th. JPMorgan Chase & Co. boosted their target price on Bowhead Specialty from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Piper Sandler cut shares of Bowhead Specialty from an “overweight” rating to a “hold” rating and set a $34.00 target price on the stock. in a research note on Monday, August 3rd. Finally, Citigroup downgraded shares of Bowhead Specialty to a “market perform” rating in a report on Thursday, September 10th. Two research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Bowhead Specialty currently has a consensus rating of “Hold” and an average target price of $33.50.

Bowhead Specialty Trading Down 0.4%

NYSE:BOW opened at $34.02 on Friday. The company has a market cap of $1.12 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 1.00 and a beta of -0.06. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.33. The company has a 50 day simple moving average of $33.94 and a two-hundred day simple moving average of $28.95. Bowhead Specialty Holdings Inc. has a 12 month low of $21.21 and a 12 month high of $35.07.

Bowhead Specialty (NYSE:BOW) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The firm had revenue of $171.77 million for the quarter, compared to analysts’ expectations of $278.64 million. Bowhead Specialty had a return on equity of 14.45% and a net margin of 9.32%. Research analysts forecast that Bowhead Specialty Holdings Inc. will post 2.02 earnings per share for the current year.

About Bowhead Specialty

Bowhead Specialty Holdings Inc. is a U.S. specialty property and casualty insurance company. Through its insurance subsidiaries, it provides coverage in areas including casualty, professional liability, healthcare and management liability. The company serves businesses and other organizations across the United States, focusing on risks that may require specialized underwriting. Bowhead began operating in 2023 and is headquartered in New York.