Millennium Management LLC Raises Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Millennium Management LLC increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 111.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 820,923 shares of the insurance provider's stock after purchasing an additional 432,857 shares during the period. Millennium Management LLC owned 0.22% of Arch Capital Group worth $75,812,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ACGL. Cullen Frost Bankers Inc. acquired a new stake in shares of Arch Capital Group during the 4th quarter worth approximately $37,000. Golden State Wealth Management LLC purchased a new position in Arch Capital Group in the fourth quarter worth approximately $42,000. Y.D. More Investments Ltd grew its position in Arch Capital Group by 125.6% in the fourth quarter. Y.D. More Investments Ltd now owns 467 shares of the insurance provider's stock worth $43,000 after acquiring an additional 260 shares during the period. Quarry LP acquired a new stake in Arch Capital Group during the fourth quarter worth $58,000. Finally, UMB Bank n.a. raised its position in Arch Capital Group by 97.0% in the fourth quarter. UMB Bank n.a. now owns 841 shares of the insurance provider's stock valued at $78,000 after purchasing an additional 414 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Stock Up 0.6%

Arch Capital Group stock traded up $0.57 during trading on Monday, reaching $95.16. The stock had a trading volume of 1,315,929 shares, compared to its average volume of 1,731,699. The company has a quick ratio of 0.58, a current ratio of 0.54 and a debt-to-equity ratio of 0.15. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $116.47. The stock has a market cap of $35.66 billion, a PE ratio of 8.50, a P/E/G ratio of 2.31 and a beta of 0.57. The business has a 50 day moving average price of $92.47 and a 200 day moving average price of $93.46.

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

Analyst Upgrades and Downgrades

ACGL has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their price target on Arch Capital Group from $104.00 to $113.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Barclays decreased their target price on shares of Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Royal Bank of Canada dropped their price target on shares of Arch Capital Group from $125.00 to $110.00 and set an "outperform" rating for the company in a research report on Wednesday, February 12th. JMP Securities restated a "market outperform" rating and issued a $125.00 price objective on shares of Arch Capital Group in a report on Wednesday, April 30th. Finally, Morgan Stanley increased their price objective on shares of Arch Capital Group from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $115.00.

Insiders Place Their Bets

In other news, insider John M. Pasquesi sold 75,060 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $94.01, for a total transaction of $7,056,390.60. Following the sale, the insider now owns 579,218 shares of the company's stock, valued at approximately $54,452,284.18. This trade represents a 11.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Louis T. Petrillo sold 16,650 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.53, for a total value of $1,573,924.50. Following the completion of the transaction, the insider now directly owns 140,023 shares of the company's stock, valued at $13,236,374.19. This trade represents a 10.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,946 shares of company stock valued at $10,392,092 in the last ninety days. Insiders own 4.20% of the company's stock.

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.