Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Bought by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC raised its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 909,859 shares of the insurance provider’s stock after acquiring an additional 65,118 shares during the period. Lord Abbett & CO. LLC’s holdings in Arch Capital Group were worth $87,510,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital A Wealth Management LLC acquired a new stake in Arch Capital Group in the 4th quarter valued at approximately $25,000. Meeder Asset Management Inc. boosted its position in shares of Arch Capital Group by 116.3% during the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider’s stock worth $27,000 after buying an additional 150 shares during the period. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Arch Capital Group during the first quarter worth $27,000. Wayfinding Financial LLC acquired a new stake in shares of Arch Capital Group in the first quarter valued at $31,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Arch Capital Group in the 1st quarter valued at $37,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JMP Securities restated a “market outperform” rating and set a $125.00 target price on shares of Arch Capital Group in a report on Wednesday, April 30th. Cantor Fitzgerald started coverage on shares of Arch Capital Group in a research report on Tuesday. They set a “neutral” rating and a $98.00 price target on the stock. Morgan Stanley set a $110.00 price objective on shares of Arch Capital Group and gave the company an “overweight” rating in a report on Monday, May 19th. Wells Fargo & Company cut their target price on shares of Arch Capital Group from $110.00 to $107.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Finally, Jefferies Financial Group lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $106.00 to $100.00 in a report on Tuesday, June 10th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group has an average rating of “Moderate Buy” and an average target price of $112.06.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL opened at $89.95 on Thursday. The stock’s 50-day simple moving average is $89.46 and its 200-day simple moving average is $91.32. The firm has a market capitalization of $33.57 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 5.39 and a beta of 0.49. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.30 by $0.28. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.29 billion. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. During the same period in the prior year, the firm posted $2.57 earnings per share. As a group, equities research analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 12,630 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the transaction, the chief financial officer owned 274,681 shares of the company’s stock, valued at approximately $25,979,328.98. This trade represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.20% of the stock is owned by corporate insiders.

Arch Capital Group Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.