The Manufacturers Life Insurance Company Takes $1.46 Million Position in Bowhead Specialty Holdings Inc. (NYSE:BOW)

The Manufacturers Life Insurance Company purchased a new stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 57,532 shares of the company’s stock, valued at approximately $1,458,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Peregrine Capital Management LLC purchased a new position in shares of Bowhead Specialty during the 2nd quarter valued at $3,073,000. Sei Investments Co. acquired a new position in Bowhead Specialty during the second quarter worth $2,021,000. Emerald Mutual Fund Advisers Trust acquired a new position in Bowhead Specialty during the second quarter worth $4,901,000. Emerald Advisers LLC acquired a new position in Bowhead Specialty during the second quarter worth $5,954,000. Finally, American Century Companies Inc. acquired a new position in Bowhead Specialty during the second quarter worth $23,148,000.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BOW shares. Keefe, Bruyette & Woods started coverage on shares of Bowhead Specialty in a research report on Monday, June 17th. They set a “market perform” rating and a $30.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $32.00 price target on shares of Bowhead Specialty in a report on Wednesday, August 7th. JPMorgan Chase & Co. began coverage on shares of Bowhead Specialty in a report on Monday, June 17th. They set a “neutral” rating and a $27.00 price target for the company. JMP Securities began coverage on shares of Bowhead Specialty in a report on Monday, June 17th. They set an “outperform” rating and a $31.00 price target for the company. Finally, Morgan Stanley began coverage on shares of Bowhead Specialty in a research note on Monday, June 17th. They issued an “equal weight” rating and a $26.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $29.20.

Bowhead Specialty Price Performance

NYSE BOW opened at $28.44 on Friday. The company has a 50-day moving average of $28.83. Bowhead Specialty Holdings Inc. has a twelve month low of $22.14 and a twelve month high of $32.55.

Bowhead Specialty (NYSE:BOW) last released its earnings results on Tuesday, August 6th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $98.90 million during the quarter, compared to the consensus estimate of $94.28 million. The company’s revenue was up 51.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.3 earnings per share for the current year.

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.