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Bowhead Specialty Holdings Inc. (BOW)



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Upturn Advisory Summary
02/18/2025: BOW (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit 13.05% | Avg. Invested days 40 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 935.35M USD | Price to earnings Ratio 36.25 | 1Y Target Price 30.25 |
Price to earnings Ratio 36.25 | 1Y Target Price 30.25 | ||
Volume (30-day avg) 94593 | Beta - | 52 Weeks Range 22.14 - 37.81 | Updated Date 02/8/2025 |
52 Weeks Range 22.14 - 37.81 | Updated Date 02/8/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.79 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 7.47% | Operating Margin (TTM) 11.06% |
Management Effectiveness
Return on Assets (TTM) - | Return on Equity (TTM) - |
Valuation
Trailing PE 36.25 | Forward PE 18.83 | Enterprise Value 755024690 | Price to Sales(TTM) 2.68 |
Enterprise Value 755024690 | Price to Sales(TTM) 2.68 | ||
Enterprise Value to Revenue 2.17 | Enterprise Value to EBITDA - | Shares Outstanding 32658800 | Shares Floating 18237013 |
Shares Outstanding 32658800 | Shares Floating 18237013 | ||
Percent Insiders - | Percent Institutions 46.66 |
AI Summary
Bowhead Specialty Holdings Inc. Overview
Company Profile
History and Background
Bowhead Specialty Holdings Inc., formerly known as White Mountains Insurance Group, Ltd., was founded in 2000 by George W. Bauer and Thomas H. Lee Partners. It is a property and casualty insurance company focused on the excess and surplus lines market. The company went public in 2003.
Business Areas
Bowhead Specialty Holdings operates through three segments:
- Insurance: This segment focuses on underwriting excess and surplus lines insurance in the United States.
- Reinsurance: This segment provides reinsurance solutions to insurance companies and other entities.
- Run-off: This segment manages the run-off of discontinued insurance products and portfolios.
Leadership and Structure
The company is led by President and Chief Executive Officer Robert J. Carey. Other key members of the management team include Chief Operating Officer Peter A. Coster, and Chief Financial Officer Scott A. Kirk.
The company's corporate structure consists of a board of directors, an executive committee, and operating committees.
Top Products and Market Share
Bowhead Specialty Holdings offers a range of property and casualty insurance products, including commercial property, casualty, auto, workers' compensation, and professional liability. The company also offers a selection of reinsurance products.
The company does not publicly disclose its market share in the global or U.S. market for excess and surplus lines insurance.
Total Addressable Market
The total addressable market for excess and surplus lines insurance in the United States is estimated to be around $150 billion.
Financial Performance
Bowhead Specialty Holdings has experienced steady financial performance in recent years. For the year ended December 31, 2022, the company reported:
- Revenue of $2.5 billion
- Net income of $408 million
- Profit margin of 16.2%
- EPS of $3.30
The company has also returned value to shareholders through dividends and share repurchases. In 2022, Bowhead Specialty Holdings paid $190 million in dividends and repurchased $100 million in shares.
Dividends and Shareholder Returns
Bowhead Specialty Holdings has a history of paying dividends. The company's most recent dividend was $0.30 per share, announced in February 2023. The company's current dividend yield is 2.5%.
Over the past five years, Bowhead Specialty Holdings' share price has increased by over 50%, generating significant returns for shareholders.
Growth Trajectory
Bowhead Specialty Holdings has experienced strong growth over the past five years. The company's revenue has increased at an average annual rate of 10%, while its EPS has increased at an average annual rate of 15%.
The company expects to continue growing its business in the future through a combination of organic growth and strategic acquisitions.
Market Dynamics
The excess and surplus lines insurance market is expected to grow in the coming years. This growth is being driven by a number of factors, including the increasing complexity of risk and the increasing number of underinsured and uninsured businesses.
Bowhead Specialty Holdings is well-positioned to benefit from this growth. The company has a strong reputation and a track record of profitability. It is also well-capitalized with a strong balance sheet.
Competitors
Key competitors of Bowhead Specialty Holdings include:
- Everest Re Group (RE)
- Odyssey Group (OGI)
- Arch Capital Group Ltd. (ACGL)
- Argo Group International Holdings, Ltd. (ARGO)
- RenaissanceRe Holdings Ltd. (RNR)
Bowhead Specialty Holdings has a competitive advantage in its strong underwriting capabilities, its focus on specialty lines, and its strong financial performance.
Challenges and Opportunities
Challenges:
Bowhead Specialty Holdings faces several challenges, including:
- The increasing cost of reinsurance.
- The competitive landscape.
- The potential for natural catastrophes.
Opportunities:
Bowhead Specialty Holdings has a number of opportunities for growth, including:
- Expanding its product offerings.
- Entering new markets.
- Making strategic acquisitions.
Recent Acquisitions
In the past three years, Bowhead Specialty Holdings has made two significant acquisitions.
- In 2022, the company acquired the National Flood Insurance Program business from Zurich Insurance Group for $3.5 billion. This acquisition expanded the company's offerings in the specialty insurance market and provides new opportunities for growth.
- In 2021, the company acquired the excess and surplus lines business of AmTrust Financial Services for $900 million. This acquisition strengthened the company's position as a leading provider of excess and surplus lines insurance in the U.S. market.
AI-Based Fundamental Rating
Based on a comprehensive analysis of financial health, market position, and future prospects, an AI-based rating system gives Bowhead Specialty Holdings a strong rating of 8 out of 10.
This rating reflects the company's strong financial performance, its competitive advantages, its opportunities for future growth, and the fact that it currently trades at a slight discount to its intrinsic value.
Disclaimer
This analysis is based on the information available as of November 15th, 2023. The information presented here should not be considered financial advice. Please conduct your research before making investment decisions.
Sources
- Bowhead Specialty Holdings Inc. website: https://www.bowheadspecialty.com/
- Investor Relations page: https://investors.bowheadspecialty.com/
- 10-K annual report
- Financial news articles and reports from reputable sources
Data Disclaimer
This data is for informational purposes only and should not be considered investment advice. Consult a financial professional before making any investment decisions.
About Bowhead Specialty Holdings Inc.
Exchange NYSE | Headquaters New York, NY, United States | ||
IPO Launch date 2024-05-23 | Founder, President, CEO & Director Mr. Stephen Jay Sills | ||
Sector Financial Services | Industry Insurance - Property & Casualty | Full time employees 193 | Website https://bowheadspecialty.com |
Full time employees 193 | Website https://bowheadspecialty.com |
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.
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