2,980 Shares in Arch Capital Group Ltd. (NASDAQ:ACGL) Purchased by Arrowpoint Investment Partners Singapore Pte. Ltd.

Key Points

• Arrowpoint Investment Partners Singapore Pte. Ltd. has acquired 2,980 shares of Arch Capital Group, valued at around $287,000, marking a new investment in the company.
• Several institutional investors, including Harbour Investments and Resonant Capital Advisors, have recently increased their stakes in Arch Capital Group, demonstrating strong interest from hedge funds.
• Arch Capital Group's stock price has decreased by 2.3%, and it currently holds a "Moderate Buy" consensus rating from analysts with an average price target of $113.07.

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,980 shares of the insurance provider's stock, valued at approximately $287,000.

A number of other hedge funds have also recently modified their holdings of ACGL. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Arch Capital Group by 14.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,804 shares of the insurance provider's stock valued at $4,924,000 after purchasing an additional 6,406 shares during the period. DAVENPORT & Co LLC purchased a new stake in shares of Arch Capital Group in the first quarter valued at approximately $251,000. D.A. Davidson & CO. boosted its holdings in shares of Arch Capital Group by 10.9% in the first quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider's stock valued at $4,381,000 after purchasing an additional 4,460 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of Arch Capital Group by 24.7% in the first quarter. Crossmark Global Holdings Inc. now owns 37,625 shares of the insurance provider's stock valued at $3,619,000 after purchasing an additional 7,448 shares during the period. Finally, World Investment Advisors boosted its holdings in shares of Arch Capital Group by 114.1% in the first quarter. World Investment Advisors now owns 6,321 shares of the insurance provider's stock valued at $608,000 after purchasing an additional 3,369 shares during the period. Institutional investors own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ACGL. Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a report on Wednesday. Keefe, Bruyette & Woods upped their target price on Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a report on Thursday. Morgan Stanley set a $110.00 target price on Arch Capital Group and gave the stock an "overweight" rating in a report on Monday, May 19th. Jefferies Financial Group lowered Arch Capital Group from a "buy" rating to a "hold" rating and lowered their target price for the stock from $106.00 to $100.00 in a report on Tuesday, June 10th. Finally, Citigroup assumed coverage on Arch Capital Group in a report on Wednesday. They set a "buy" rating and a $113.00 target price for the company. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $112.13.

Arch Capital Group Stock Down 0.8%

Shares of ACGL stock traded down $0.74 on Friday, reaching $90.72. 3,051,822 shares of the stock were exchanged, compared to its average volume of 2,644,230. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. The business's 50 day moving average price is $89.30 and its 200 day moving average price is $91.24. The company has a market capitalization of $33.86 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 5.56 and a beta of 0.49. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The firm had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same period in the previous year, the company earned $2.57 earnings per share. As a group, sell-side 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.