Arch Capital Group Ltd. $ACGL Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 58.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 268,919 shares of the insurance provider’s stock after acquiring an additional 99,215 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Arch Capital Group were worth $25,795,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proffitt & Goodson Inc. grew its position in Arch Capital Group by 4.5% during the fourth quarter. Proffitt & Goodson Inc. now owns 3,696 shares of the insurance provider’s stock valued at $355,000 after buying an additional 160 shares during the period. Krilogy Financial LLC purchased a new position in Arch Capital Group during the fourth quarter valued at $318,000. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Arch Capital Group by 5.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,304 shares of the insurance provider’s stock valued at $1,180,000 after purchasing an additional 640 shares in the last quarter. Lecap Asset Management Ltd. lifted its holdings in Arch Capital Group by 116.9% during the fourth quarter. Lecap Asset Management Ltd. now owns 12,569 shares of the insurance provider’s stock valued at $1,206,000 after purchasing an additional 6,775 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in Arch Capital Group by 10.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 187,002 shares of the insurance provider’s stock valued at $18,024,000 after purchasing an additional 17,923 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $98.85 on Wednesday. The company’s 50-day moving average price is $96.75 and its 200-day moving average price is $94.07. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.13. The company has a market cap of $35.22 billion, a P/E ratio of 8.51, a P/E/G ratio of 4.85 and a beta of 0.41. Arch Capital Group Ltd. has a twelve month low of $82.44 and a twelve month high of $103.39.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Monday, February 9th. The insurance provider reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.64. The firm had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $3.94 billion. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. During the same period last year, the firm posted $2.26 earnings per share. On average, sell-side analysts forecast that Arch Capital Group Ltd. will post 9.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In other news, insider David Gansberg sold 5,907 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $96.37, for a total value of $569,257.59. Following the transaction, the insider directly owned 336,559 shares of the company’s stock, valued at approximately $32,434,190.83. This trade represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Nicolas Papadopoulo sold 21,930 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $96.31, for a total transaction of $2,112,078.30. Following the completion of the transaction, the chief executive officer directly owned 871,594 shares in the company, valued at approximately $83,943,218.14. This represents a 2.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 78,267 shares of company stock valued at $7,291,637. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ACGL. Morgan Stanley set a $125.00 price objective on shares of Arch Capital Group in a report on Friday, January 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price objective (up from $97.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $93.00 price objective (up from $84.00) on shares of Arch Capital Group in a report on Wednesday, January 7th. Barclays increased their price objective on shares of Arch Capital Group from $104.00 to $106.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Finally, Royal Bank Of Canada increased their price objective on shares of Arch Capital Group from $108.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $108.93.

Arch Capital Group Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.