Geode Capital Management LLC Makes New Investment in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Geode Capital Management LLC purchased a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 167,433 shares of the company’s stock, valued at approximately $4,691,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Family Investments Inc. acquired a new stake in shares of Bowhead Specialty during the 3rd quarter worth approximately $169,826,000. Barclays PLC acquired a new position in Bowhead Specialty during the 3rd quarter worth approximately $479,000. Y Intercept Hong Kong Ltd acquired a new position in Bowhead Specialty in the 3rd quarter worth about $317,000. State Street Corp acquired a new stake in Bowhead Specialty during the 3rd quarter worth approximately $1,426,000. Finally, Phase 2 Partners LLC raised its position in Bowhead Specialty by 9.3% during the 3rd 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.

Bowhead Specialty Price Performance

Shares of BOW stock opened at $33.85 on Monday. Bowhead Specialty Holdings Inc. has a 1 year low of $22.14 and a 1 year high of $37.81. The company’s fifty day simple moving average is $34.28 and its two-hundred day simple moving average is $30.24.

Bowhead Specialty (NYSE:BOW) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $113.00 million. Research analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.38 EPS for the current year.

Insiders Place Their Bets

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $27.70, for a total value of $37,735,294.50. Following the completion of the transaction, the director now directly owns 4,700,761 shares in the company, valued at approximately $130,211,079.70. This represents a 22.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

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

Bowhead Specialty Company 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.