Bowhead Specialty Holdings Inc.
Description
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. The company distributes its products through distribution partners in wholesale and retail markets. Bowhead Specialty Holdings Inc. was formerly known as Bowhead Holdings Inc. and changed its name to Bowhead Specialty Holdings Inc. in March 2024. The company was founded in 2020 and is based in New York, New York.
About
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 5, 2024 | 0.37 | 0.38 | 0.01 | 2.70% |
| Aug 9, 2024 | 0.25 | 0.28 | 0.03 | 12.00% |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 4 | — | 5 |
| Average estimate | — | 0.35 | — | 1.62 |
| Low estimate | — | 0.34 | — | 1.55 |
| High estimate | — | 0.36 | — | 1.65 |
| Last year EPS | — | — | — | 1.32 |
Growth estimates
Analyst Ratings
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| Jan 10, 2025 |
Keefe, Bruyette & Woods
Meyer Sheilds
|
Maintains | Market Perform | ▲ Raises $36 → $44 |
| Dec 4, 2024 |
Keefe, Bruyette & Woods
Meyer Sheilds
|
Maintains | Market Perform | ▲ Raises $35 → $36 |
| Nov 7, 2024 |
JP Morgan
Pablo Zuanic
|
Maintains | Neutral | ▲ Raises $26 → $30 |
| Nov 6, 2024 |
JMP Securities
Matthew Carletti
|
Maintains | Market Outperform | ▲ Raises $32 → $33 |
| Nov 6, 2024 |
RBC Capital
Scott Heleniak
|
Maintains | Outperform | ▲ Raises $32 → $35 |
| Oct 29, 2024 |
Keefe, Bruyette & Woods
Meyer Sheilds
|
Maintains | Market Perform | ▲ Raises $30 → $33 |
| Oct 29, 2024 |
RBC Capital
Scott Heleniak
|
Reiterates | Outperform | Maintains $32 |
| Oct 15, 2024 |
JMP Securities
Matthew Carletti
|
Maintains | Market Outperform | ▲ Raises $31 → $32 |
| Aug 7, 2024 |
RBC Capital
Scott Heleniak
|
Reiterates | Outperform | Maintains $32 |
| Jun 17, 2024 |
Keefe, Bruyette & Woods
Meyer Sheilds
|
Initiates | Market Perform | Announces $30 |
| Jun 17, 2024 |
JMP Securities
Matthew Carletti
|
Initiates | Market Outperform | Announces $31 |
| Jun 17, 2024 |
JP Morgan
Pablo Zuanic
|
Initiates | Neutral | Announces $27 |
| Jun 17, 2024 |
Morgan Stanley
Bob Huang
|
Initiates | Equal-Weight | Announces $26 |
| Jun 17, 2024 |
RBC Capital
Scott Heleniak
|
Reiterates | Outperform | Maintains $32 |
Income statement
| 2023 | |
|---|---|
| Fiscal date | 2023-12-31 |
| Total reported revenue | 283.42M |
| Cost of revenue | — |
| Gross profit | — |
| Operating expense | |
| Research & development | — |
| Selling general and admin | — |
| Other operating expenses | 64.09M |
| Operating income | — |
| Non operating interest income | |
| Income | — |
| Expense | — |
| Other income expense | 125,000 |
| Pretax income | 32.12M |
| Tax provision | 7.07M |
| Net income | 25.05M |
| Basic EPS | 0.79 |
| Diluted EPS | 0.79 |
| Basic average shares | 31.53M |
| Diluted average shares | 31.53M |
| EBITDA | — |
| Net income from continuing op. | 25.05M |
| Minority interests | — |
| Preferred stock dividends | — |
Balance sheet
| 2023 | 2022 | |
|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 |
| Total assets | — | — |
| Current assets | ||
| Cash | — | — |
| Cash equivalents | — | — |
| Cash and cash equivalents | 118.07M | 64.66M |
| Other short term investments | 563.45M | 282.92M |
| Accounts receivable | 38.82M | 29.49M |
| Other receivables | — | — |
| Inventory | — | — |
| Prepaid assets | — | — |
| Restricted cash | — | — |
| Assets held for sale | — | — |
| Hedging assets | — | — |
| Other current assets | — | — |
| Non current assets | ||
| Properties | — | — |
| Land and improvements | — | — |
| Machinery furniture equipment | — | — |
| Construction in progress | — | — |
| Leases | — | — |
| Accumulated depreciation | — | — |
| Goodwill | — | — |
| Investment properties | — | — |
| Financial assets | — | — |
| Intangible assets | — | — |
| Investments and advances | 563.45M | 282.92M |
| Other non current assets | — | — |
| Total liabilities | — | — |
| Current liabilities | ||
| Accounts payable | 40.44M | 23.69M |
| Accrued expenses | 14.90M | 12.03M |
| Short term debt | — | — |
| Deferred revenue | — | — |
| Tax payable | 42,000 | 1.52M |
| Pensions | — | — |
| Other current liabilities | — | — |
| Non current liabilities | ||
| Long term debt | — | — |
| Provision for risks and charges | — | — |
| Deferred liabilities | — | — |
| Derivative product liabilities | — | — |
| Other non current liabilities | — | — |
| Shareholders equity | ||
| Common stock | — | — |
| Retained earnings | 24.67M | -381,000 |
| Other shareholders equity | -11.37M | -16.69M |
| Total shareholders equity | 192.08M | 83.37M |
| Additional paid in capital | 178.78M | 100.44M |
| Treasury stock | — | — |
| Minority interest | — | — |
Cash flow statement
| 2023 | |
|---|---|
| Operating Activities | |
| Net Income | 25.05M |
| Depreciation | — |
| Deferred Taxes | -4.36M |
| Stock-Based Compensation | 683,000 |
| Other Non-Cash Items | 577,000 |
| Accounts Receivable | -86.30M |
| Accounts Payable | 16.75M |
| Other Assets & Liabilities | -8.47M |
| Operating Cash Flow | -56.07M |
| Investing Activities | |
| Capital Expenditures | -3.82M |
| Net Intangibles | — |
| Net Acquisitions | — |
| Purchase of Investments | -367.25M |
| Sale of Investments | 96.30M |
| Investing Cash Flow | -274.77M |
| Financing Activities | |
| Long-Term Debt Issuance | — |
| Long-Term Debt Payments | — |
| Other Financing Charges | 77.66M |
| Financing Cash Flow | 155.31M |
| Other Cash Details | |
| End Cash Position | 119.77M |
| Income Tax Paid | — |
| Interest Paid | — |
| Free Cash Flow | 232.41M |
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