Madison Asset Management LLC purchased a new position in Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,799,789 shares of the insurance provider’s stock, valued at approximately $368,808,000. Arch Capital Group makes up about 4.4% of Madison Asset Management LLC’s holdings, making the stock its biggest position.
Other large investors also recently modified their holdings of the company. Elyxium Wealth LLC purchased a new position in Arch Capital Group during the fourth quarter valued at approximately $27,000. WealthCollab LLC grew its position in shares of Arch Capital Group by 410.3% during the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 238 shares in the last quarter. Torren Management LLC increased its holdings in shares of Arch Capital Group by 66.9% in 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. JPL Wealth Management LLC purchased a new stake in shares of Arch Capital Group in the third quarter worth $28,000. Finally, TD Waterhouse Canada Inc. boosted its stake in Arch Capital Group by 72.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider’s stock valued at $31,000 after buying an additional 136 shares during the period. 89.07% of the stock is currently owned by institutional investors.
Arch Capital Group Stock Down 0.4%
Shares of ACGL opened at $98.53 on Thursday. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $107.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a 50 day simple moving average of $98.61 and a two-hundred day simple moving average of $96.70. The firm has a market cap of $33.62 billion, a P/E ratio of 7.70, a P/E/G ratio of 10.36 and a beta of 0.31.
Insider Activity at Arch Capital Group
In related news, Director Brian S. Posner sold 3,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.30% of the company’s stock.
Analysts Set New Price Targets
Several analysts have weighed in on ACGL shares. Atlantic Securities set a $126.00 price target on Arch Capital Group in a report on Wednesday, July 15th. Mizuho raised their target price on shares of Arch Capital Group from $101.00 to $104.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. UBS Group reiterated a “buy” rating and set a $120.00 target price (up from $114.00) on shares of Arch Capital Group in a research report on Wednesday, July 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a $120.00 price target (up from $115.00) on shares of Arch Capital Group in a report on Thursday, July 30th. Finally, Wells Fargo & Company lifted their price objective on shares of Arch Capital Group from $114.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $111.11.
Read Our Latest Research Report on Arch Capital Group
About Arch Capital Group
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.
Further Reading
- Five stocks we like better than Arch Capital Group
- Bloom Energy’s AI Surge Meets a Valuation Reality Check
- Target Is Winning Shoppers Back—Can the Rally Reach $180?
- IonQ’s Space Contract Points to a New Frontier for Quantum Investors
- Is Apple’s AI Strategy Smarter Than Skeptics Think?
Want to see what other hedge funds are holding ACGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report).
Receive News & Ratings for Arch Capital Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arch Capital Group and related companies with MarketBeat.com's FREE daily email newsletter.
