6,063,046 Shares in Bowhead Specialty Holdings Inc. (NYSE:BOW) Bought by American Family Investments Inc.

American Family Investments Inc. bought a new position in Bowhead Specialty Holdings Inc. (NYSE:BOW) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,063,046 shares of the company’s stock, valued at approximately $169,826,000. Bowhead Specialty accounts for 12.0% of American Family Investments Inc.’s investment portfolio, making the stock its 2nd largest holding. American Family Investments Inc. owned approximately 18.56% of Bowhead Specialty as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Barclays PLC acquired a new position in Bowhead Specialty during the 3rd quarter worth approximately $479,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Bowhead Specialty in the third quarter worth $317,000. State Street Corp acquired a new position in Bowhead Specialty during the third quarter worth $1,426,000. Phase 2 Partners LLC boosted its holdings in Bowhead Specialty by 9.3% during the third quarter. Phase 2 Partners LLC now owns 136,697 shares of the company’s stock worth $3,829,000 after purchasing an additional 11,648 shares during the last quarter. Finally, New Vernon Investment Management LLC bought a new position in Bowhead Specialty in the third quarter valued at $127,000.

Bowhead Specialty Stock Performance

Shares of BOW stock opened at $35.73 on Tuesday. Bowhead Specialty Holdings Inc. has a 12-month low of $22.14 and a 12-month high of $37.81. The firm has a 50 day moving average price of $32.12 and a two-hundred day moving average price of $29.04.

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

Insider Activity

In related news, Director Family Mutual Insuran American sold 1,362,285 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $27.70, for a total transaction of $37,735,294.50. Following the sale, the director now owns 4,700,761 shares of the company’s stock, valued at $130,211,079.70. This represents a 22.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Bowhead Specialty from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada increased their price objective on Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods boosted their target price on shares of Bowhead Specialty from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, JMP Securities increased their price target on shares of Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Bowhead Specialty presently has a consensus rating of “Hold” and a consensus target price of $32.00.

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.