Bowhead Specialty (NYSE:BOW) Issues Quarterly Earnings Results, Hits Expectations

Bowhead Specialty (NYSE:BOW) released its quarterly earnings results on Tuesday. The company reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38, Briefing.com reports. The business had revenue of $116.76 million during the quarter, compared to analyst estimates of $113.00 million.

Bowhead Specialty Stock Up 4.2 %

Shares of NYSE BOW traded up $1.24 during midday trading on Wednesday, hitting $31.04. 162,243 shares of the stock traded hands, compared to its average volume of 183,020. Bowhead Specialty has a one year low of $22.14 and a one year high of $32.55. The company’s 50 day moving average is $29.45.

Insider Activity at Bowhead Specialty

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $27.70, for a total transaction of $37,735,294.50. Following the completion of the sale, the director now directly owns 4,700,761 shares of the company’s stock, valued at $130,211,079.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Ratings Changes

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

About Bowhead Specialty

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.