Avanza Fonder AB Acquires New Shares in Arch Capital Group Ltd. (NASDAQ:ACGL)

Avanza Fonder AB acquired a new position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,475 shares of the insurance provider's stock, valued at approximately $2,854,000.

Other large investors have also recently bought and sold shares of the company. Pittenger & Anderson Inc. raised its position in Arch Capital Group by 56.6% in the fourth quarter. Pittenger & Anderson Inc. now owns 6,720 shares of the insurance provider's stock worth $621,000 after acquiring an additional 2,430 shares in the last quarter. Signet Financial Management LLC raised its position in Arch Capital Group by 37.8% in the first quarter. Signet Financial Management LLC now owns 23,091 shares of the insurance provider's stock worth $2,221,000 after acquiring an additional 6,330 shares in the last quarter. Asahi Life Asset Management CO. LTD. purchased a new position in Arch Capital Group in the fourth quarter worth $366,000. William Blair Investment Management LLC raised its position in Arch Capital Group by 33.7% in the fourth quarter. William Blair Investment Management LLC now owns 624,055 shares of the insurance provider's stock worth $57,631,000 after acquiring an additional 157,197 shares in the last quarter. Finally, Independent Advisor Alliance raised its position in Arch Capital Group by 98.8% in the fourth quarter. Independent Advisor Alliance now owns 6,925 shares of the insurance provider's stock worth $640,000 after acquiring an additional 3,442 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Activity

In other news, CFO Francois Morin sold 12,630 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $94.58, for a total value of $1,194,545.40. Following the completion of the sale, the chief financial officer now directly owns 274,681 shares in the company, valued at approximately $25,979,328.98. The trade was a 4.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John M. Pasquesi sold 75,060 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $94.01, for a total value of $7,056,390.60. Following the completion of the sale, the insider now owns 579,218 shares of the company's stock, valued at $54,452,284.18. This trade represents a 11.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,976 shares of company stock worth $10,531,038. 4.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Arch Capital Group from $106.00 to $108.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Barclays dropped their price target on Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Jefferies Financial Group cut Arch Capital Group from a "buy" rating to a "hold" rating and dropped their price target for the company from $106.00 to $100.00 in a research report on Tuesday. Morgan Stanley set a $110.00 price target on Arch Capital Group and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, JMP Securities restated a "market outperform" rating and issued a $125.00 price target on shares of Arch Capital Group in a research report on Wednesday, April 30th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Arch Capital Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.63.

Arch Capital Group Stock Down 1.0%

Shares of NASDAQ:ACGL traded down $0.92 during mid-day trading on Friday, hitting $90.99. 1,654,475 shares of the company traded hands, compared to its average volume of 1,696,841. The firm has a market cap of $34.10 billion, a P/E ratio of 8.12, a PEG ratio of 2.31 and a beta of 0.53. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.58 and a current ratio of 0.54. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $116.47. The firm's 50 day simple moving average is $92.61 and its 200 day simple moving average is $92.69.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted 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). Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. The business had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.75 billion. During the same quarter in the prior year, the firm earned $2.45 earnings per share. Arch Capital Group's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current 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.