111 Capital Acquires New Shares in Arch Capital Group Ltd. $ACGL

Key Points

• 111 Capital acquired a new stake in Arch Capital Group by purchasing 13,689 shares valued at approximately $1.25 million in the second quarter.
• Insider Maamoun Rajeh sold 10,000 shares for about $941,500, reducing his position in the company by 2.25%.
• Arch Capital Group reported a quarterly EPS of $2.58, surpassing analyst expectations, and has a current consensus price target of $109.36.

111 Capital acquired a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 13,689 shares of the insurance provider's stock, valued at approximately $1,246,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ACGL. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Arch Capital Group in the first quarter worth about $27,000. Meeder Asset Management Inc. lifted its holdings in Arch Capital Group by 116.3% in the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after purchasing an additional 150 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Arch Capital Group in the 1st quarter worth approximately $31,000. Zions Bancorporation National Association UT acquired a new stake in shares of Arch Capital Group in the first quarter worth $37,000. Finally, Grove Bank & Trust acquired a new stake in shares of Arch Capital Group in the first quarter worth $40,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Activity

In other news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the transaction, the insider owned 433,589 shares in the company, valued at approximately $40,822,404.35. This represents a 2.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company's stock.

Arch Capital Group Price Performance

Shares of ACGL stock opened at $90.79 on Friday. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47. The company has a market capitalization of $33.88 billion, a P/E ratio of 9.37, a P/E/G ratio of 5.45 and a beta of 0.47. The stock has a 50 day moving average of $90.01 and a two-hundred day moving average of $91.13. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.During the same period in the prior year, the company posted $2.57 earnings per share. As a group, equities analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ACGL shares. Wells Fargo & Company reduced their price objective on shares of Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Wolfe Research began coverage on shares of Arch Capital Group in a research report on Monday, September 15th. They set a "peer perform" rating for the company. Jefferies Financial Group cut Arch Capital Group from a "buy" rating to a "hold" rating and cut their price objective for the stock from $106.00 to $100.00 in a research report on Tuesday, June 10th. Weiss Ratings reissued a "hold (c+)" rating on shares of Arch Capital Group in a research report on Saturday, September 27th. Finally, Keefe, Bruyette & Woods boosted their price objective on Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a research report on Thursday, August 14th. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, Arch Capital Group presently has a consensus rating of "Hold" and a consensus price target of $109.36.

About Arch Capital Group

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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