US Bancorp DE Makes New Investment in Bowhead Specialty Holdings Inc. (NYSE:BOW)

US Bancorp DE purchased a new stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,150 shares of the company’s stock, valued at approximately $76,000.

A number of other large investors have also recently modified their holdings of the company. American Family Investments Inc. purchased a new stake in Bowhead Specialty during the third quarter worth $169,826,000. Peregrine Capital Management LLC grew its stake in Bowhead Specialty by 143.3% in the fourth quarter. Peregrine Capital Management LLC now owns 295,723 shares of the company’s stock valued at $10,504,000 after purchasing an additional 174,172 shares during the last quarter. Geode Capital Management LLC bought a new position in Bowhead Specialty in the third quarter worth about $4,691,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Bowhead Specialty during the third quarter valued at about $1,829,000. Finally, Alberta Investment Management Corp boosted its holdings in shares of Bowhead Specialty by 64.3% in the 4th quarter. Alberta Investment Management Corp now owns 147,032 shares of the company’s stock valued at $5,223,000 after buying an additional 57,554 shares in the last quarter.

Bowhead Specialty Trading Up 2.9 %

Bowhead Specialty stock opened at $36.41 on Tuesday. Bowhead Specialty Holdings Inc. has a one year low of $22.14 and a one year high of $37.81. The stock has a 50-day moving average of $32.89 and a two-hundred day moving average of $32.36.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.35 by $0.07. The company had revenue of $184.77 million during the quarter, compared to analysts’ expectations of $102.12 million. As a group, sell-side analysts forecast that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

Insider Transactions at Bowhead Specialty

In other news, Director Ava Schnidman bought 1,493 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $33.41 per share, for a total transaction of $49,881.13. Following the completion of the transaction, the director now directly owns 1,893 shares in the company, valued at approximately $63,245.13. This represents a 373.25 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upgraded shares of Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.60.

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.