Ameriprise Financial Inc. Purchases 78,435 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Ameriprise Financial Inc. increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 18.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 496,917 shares of the insurance provider's stock after acquiring an additional 78,435 shares during the period. Ameriprise Financial Inc. owned about 0.13% of Arch Capital Group worth $45,891,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACGL. Nordea Investment Management AB grew its position in Arch Capital Group by 3.1% during the 4th quarter. Nordea Investment Management AB now owns 30,283 shares of the insurance provider's stock worth $2,785,000 after acquiring an additional 905 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Arch Capital Group by 4.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,258 shares of the insurance provider's stock worth $855,000 after buying an additional 380 shares during the period. Czech National Bank lifted its holdings in Arch Capital Group by 6.5% during the 4th quarter. Czech National Bank now owns 81,247 shares of the insurance provider's stock worth $7,503,000 after buying an additional 4,951 shares during the period. Wedmont Private Capital lifted its holdings in Arch Capital Group by 94.2% during the 4th quarter. Wedmont Private Capital now owns 10,556 shares of the insurance provider's stock worth $952,000 after buying an additional 5,120 shares during the period. Finally, Sunflower Bank N.A. lifted its holdings in Arch Capital Group by 12.0% during the 4th quarter. Sunflower Bank N.A. now owns 2,745 shares of the insurance provider's stock worth $254,000 after buying an additional 295 shares during the period. Institutional investors own 89.07% of the company's stock.

Insider Buying and Selling

In related news, CEO Nicolas Papadopoulo sold 7,636 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $92.48, for a total transaction of $706,177.28. Following the completion of the sale, the chief executive officer now owns 795,718 shares in the company, valued at approximately $73,588,000.64. This represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Louis T. Petrillo sold 11,600 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total value of $1,055,600.00. Following the sale, the insider now owns 140,023 shares of the company's stock, valued at $12,742,093. This trade represents a 7.65% decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ACGL. Keefe, Bruyette & Woods lifted their target price on Arch Capital Group from $104.00 to $113.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Wells Fargo & Company lifted their target price on Arch Capital Group from $106.00 to $108.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Morgan Stanley cut their target price on Arch Capital Group from $115.00 to $110.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Finally, JMP Securities reissued a "market outperform" rating and issued a $125.00 price objective on shares of Arch Capital Group in a research note on Wednesday, April 30th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $115.00.

Arch Capital Group Stock Down 0.0%

ACGL stock opened at $94.54 on Monday. The stock's 50 day simple moving average is $92.22 and its 200 day simple moving average is $93.83. 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 0.15, a quick ratio of 0.58 and a current ratio of 0.54. The company has a market cap of $35.52 billion, a P/E ratio of 8.44, a price-to-earnings-growth ratio of 2.31 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share for the quarter, missing analysts' consensus estimates of $1.59 by ($0.05). Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same period last year, the company posted $2.45 earnings per share. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. On average, research analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Arch Capital Group Company 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.

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