UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 11,600 Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,600 shares of the company’s stock after buying an additional 11,600 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Bowhead Specialty were worth $3,686,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Peregrine Capital Management LLC purchased a new position in Bowhead Specialty in the second quarter worth $3,073,000. Lighthouse Investment Partners LLC purchased a new position in shares of Bowhead Specialty during the 2nd quarter valued at $2,653,000. Sei Investments Co. purchased a new position in shares of Bowhead Specialty during the 2nd quarter valued at $2,021,000. Victory Capital Management Inc. lifted its position in shares of Bowhead Specialty by 4.5% during the 3rd quarter. Victory Capital Management Inc. now owns 658,595 shares of the company’s stock valued at $18,447,000 after buying an additional 28,235 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Bowhead Specialty during the 2nd quarter valued at $1,458,000.

Bowhead Specialty Stock Down 0.9 %

BOW stock opened at $36.04 on Friday. Bowhead Specialty Holdings Inc. has a twelve month low of $22.14 and a twelve month high of $37.81. The business has a 50 day moving average of $32.57 and a 200 day moving average of $29.22.

Bowhead Specialty (NYSE:BOW) last posted its earnings results on Tuesday, November 5th. The company reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. The business had revenue of $116.76 million during the quarter, compared to the consensus estimate of $113.00 million. As a group, sell-side analysts expect that Bowhead Specialty Holdings Inc. will post 1.38 EPS for the current fiscal year.

Insider Activity at Bowhead Specialty

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of the business’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 transaction, the director now directly owns 4,700,761 shares in the company, valued at $130,211,079.70. The trade was a 22.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

BOW has been the topic of a number of analyst reports. JMP Securities boosted their price objective on Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 6th. 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. JPMorgan Chase & Co. boosted their price objective on Bowhead Specialty from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, 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 research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $32.00.

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.