Bowhead Specialty (NYSE:BOW) Given New $35.00 Price Target at Royal Bank of Canada

Bowhead Specialty (NYSE:BOW) had its target price lifted by equities research analysts at Royal Bank of Canada from $32.00 to $35.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 11.36% from the company’s current price.

Several other research firms have also recently weighed in on BOW. JMP Securities increased their price objective on shares of Bowhead Specialty from $31.00 to $32.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods increased their price objective on shares of Bowhead Specialty from $30.00 to $33.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bowhead Specialty has a consensus rating of “Hold” and an average target price of $30.60.

Bowhead Specialty Stock Performance

NYSE BOW traded up $1.63 on Wednesday, hitting $31.43. The company’s stock had a trading volume of 83,791 shares, compared to its average volume of 182,337. Bowhead Specialty has a 1-year low of $22.14 and a 1-year high of $32.55. The stock’s 50-day simple moving average is $29.45.

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, meeting the consensus estimate of $0.38. The business had revenue of $116.76 million during the quarter, compared to analyst estimates of $113.00 million. Analysts predict that Bowhead Specialty will post 1.3 earnings per share for the current fiscal year.

Insider Activity at Bowhead Specialty

In related news, Director Family Mutual Insuran American sold 1,362,285 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $27.70, for a total transaction of $37,735,294.50. Following the transaction, the director now directly owns 4,700,761 shares of the company’s stock, valued at $130,211,079.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of Bowhead Specialty

A number of large investors have recently added to or reduced their stakes in BOW. Point72 Asset Management L.P. purchased a new stake in Bowhead Specialty during the second quarter worth about $117,000. Sandia Investment Management LP purchased a new stake in Bowhead Specialty during the second quarter worth about $127,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Bowhead Specialty during the second quarter worth about $192,000. Davidson Kempner Capital Management LP purchased a new stake in Bowhead Specialty during the second quarter worth about $253,000. Finally, TD Asset Management Inc purchased a new stake in Bowhead Specialty during the second quarter worth about $265,000.

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.