Ethic Inc. raised its stake in Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) by 21.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,779 shares of the insurance provider’s stock after purchasing an additional 7,801 shares during the quarter. Ethic Inc.’s holdings in Arch Capital Group were worth $4,136,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Twin Capital Management Inc. increased its holdings in shares of Arch Capital Group by 1.4% in the first quarter. Twin Capital Management Inc. now owns 8,177 shares of the insurance provider’s stock valued at $785,000 after purchasing an additional 116 shares during the period. Torren Management LLC lifted its holdings in shares of Arch Capital Group by 66.9% during the second quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 117 shares during the period. Signaturefd LLC lifted its holdings in shares of Arch Capital Group by 2.8% during the third quarter. Signaturefd LLC now owns 5,186 shares of the insurance provider’s stock worth $479,000 after purchasing an additional 140 shares during the period. Covestor Ltd lifted its holdings in shares of Arch Capital Group by 23.4% during the third quarter. Covestor Ltd now owns 785 shares of the insurance provider’s stock worth $73,000 after purchasing an additional 149 shares during the period. Finally, Evergreen Capital Management LLC lifted its holdings in shares of Arch Capital Group by 1.4% during the third quarter. Evergreen Capital Management LLC now owns 10,835 shares of the insurance provider’s stock worth $1,001,000 after purchasing an additional 153 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have issued reports on ACGL. Morgan Stanley set a $103.00 price objective on shares of Arch Capital Group and gave the company an “equal weight” rating in a research note on Thursday, October 29th. Weiss Ratings upgraded shares of Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $106.00 target price (up from $95.00) on shares of Arch Capital Group in a research note on Tuesday, November 3rd. BMO Capital Markets lifted their target price on shares of Arch Capital Group from $95.00 to $102.00 in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Arch Capital Group from $118.00 to $113.00 and set a “neutral” rating on the stock in a report on Friday, October 9th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $111.65.
Check Out Our Latest Analysis on ACGL
Arch Capital Group Stock Performance
Shares of ACGL opened at $109.14 on Wednesday. The company has a 50-day simple moving average of $99.25 and a 200-day simple moving average of $97.38. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $37.24 billion, a PE ratio of 8.92, a P/E/G ratio of 3.55 and a beta of 0.22. Arch Capital Group Ltd. has a 52-week low of $87.05 and a 52-week high of $113.63.
Arch Capital Group (NASDAQ:ACGL – Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The insurance provider reported $2.67 EPS for the quarter, beating the consensus estimate of $2.31 by $0.36. The firm had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Arch Capital Group had a net margin of 23.31% and a return on equity of 16.62%. During the same quarter last year, the business earned $2.77 earnings per share. Equities research analysts predict that Arch Capital Group Ltd. will post 10.18 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total value of $1,093,513.20. Following the completion of the transaction, the chief financial officer directly owned 184,826 shares of the company’s stock, valued at approximately $18,356,918.32. This trade represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.30% of the company’s stock.
Arch Capital Group Company Profile
Arch Capital Group Ltd. is a global insurance and reinsurance company headquartered in Bermuda. Through its insurance, reinsurance and mortgage insurance operations, it provides coverage and risk-management solutions to businesses, financial institutions and other customers. The company’s offerings include property and casualty insurance, specialty coverage and reinsurance for risks such as property, casualty and professional liability. Its mortgage insurance business serves lenders and borrowers, primarily in the United States.
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