New Vernon Investment Management LLC Takes Position in Bowhead Specialty Holdings Inc. (NYSE:BOW)

New Vernon Investment Management LLC purchased a new stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,550 shares of the company’s stock, valued at approximately $127,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. American Century Companies Inc. purchased a new position in Bowhead Specialty in the second quarter valued at about $23,148,000. Victory Capital Management Inc. purchased a new position in Bowhead Specialty in the second quarter valued at about $15,973,000. Driehaus Capital Management LLC purchased a new position in Bowhead Specialty in the second quarter valued at about $7,866,000. Emerald Advisers LLC purchased a new position in Bowhead Specialty in the second quarter valued at about $5,954,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Bowhead Specialty in the second quarter worth about $4,901,000.

Bowhead Specialty Trading Down 0.9 %

Bowhead Specialty stock traded down $0.31 during mid-day trading on Tuesday, hitting $36.10. 14,719 shares of the company’s stock were exchanged, compared to its average volume of 186,205. Bowhead Specialty Holdings Inc. has a fifty-two week low of $22.14 and a fifty-two week high of $37.12. The company has a 50 day moving average price of $31.25.

Bowhead Specialty (NYSE:BOW) last released its earnings results on Tuesday, November 5th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.38. The firm had revenue of $116.76 million for the quarter, compared to the consensus estimate of $113.00 million. Analysts predict that Bowhead Specialty Holdings Inc. will post 1.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of Bowhead Specialty stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $27.70, for a total value of $37,735,294.50. Following the completion of the sale, the director now directly owns 4,700,761 shares in the company, valued at approximately $130,211,079.70. The trade was a 22.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BOW. JMP Securities boosted their price objective on Bowhead Specialty from $32.00 to $33.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upped their price objective on Bowhead Specialty from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada upped their price objective on Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods increased their price target on Bowhead Specialty from $30.00 to $33.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.40.

Bowhead Specialty 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.