Bowhead Specialty Holdings Inc. (NYSE:BOW) Holdings Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) by 180.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 29,550 shares of the company’s stock after acquiring an additional 19,018 shares during the period. Bank of New York Mellon Corp’s holdings in Bowhead Specialty were worth $1,050,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. American Family Investments Inc. purchased a new position in shares of Bowhead Specialty during the third quarter valued at $169,826,000. Peregrine Capital Management LLC lifted its position in Bowhead Specialty by 143.3% in the 4th quarter. Peregrine Capital Management LLC now owns 295,723 shares of the company’s stock worth $10,504,000 after buying an additional 174,172 shares in the last quarter. Geode Capital Management LLC acquired a new stake in shares of Bowhead Specialty during the 3rd quarter valued at $4,691,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Bowhead Specialty during the 3rd quarter valued at $1,829,000. Finally, Alberta Investment Management Corp grew its holdings in shares of Bowhead Specialty by 64.3% during the 4th quarter. Alberta Investment Management Corp now owns 147,032 shares of the company’s stock valued at $5,223,000 after acquiring an additional 57,554 shares in the last quarter.

Insiders Place Their Bets

In other news, Director Ava Schnidman purchased 1,493 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $33.41 per share, with a total value of $49,881.13. Following the completion of the transaction, the director now directly owns 1,893 shares in the company, valued at $63,245.13. This trade represents a 373.25 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bowhead Specialty Trading Up 4.4 %

NYSE BOW opened at $39.38 on Tuesday. The company has a 50 day moving average price of $33.51 and a two-hundred day moving average price of $32.61. Bowhead Specialty Holdings Inc. has a 12-month low of $22.14 and a 12-month high of $39.83.

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

Analysts Set New Price Targets

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

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.