MBB Public Markets I LLC Purchases New Holdings in Arch Capital Group Ltd. $ACGL

Key Points

• MBB Public Markets I LLC has purchased 3,520 shares of Arch Capital Group Ltd. for approximately $339,000, marking a new position for the fund in the insurance provider.
• Arch Capital Group's stock price opened at $91.29, with a market cap of $34.07 billion, and it has a 12-month high of $116.47.
• Recent earnings reports indicated that Arch Capital Group achieved $2.58 earnings per share, exceeding expectations and showing a net margin of 19.49% and a return on equity of 15.33%.

MBB Public Markets I LLC bought a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,520 shares of the insurance provider's stock, valued at approximately $339,000.

A number of other hedge funds also recently modified their holdings of ACGL. Nuveen LLC purchased a new stake in shares of Arch Capital Group in the first quarter valued at $399,651,000. JPMorgan Chase & Co. lifted its holdings in shares of Arch Capital Group by 30.5% in the first quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock valued at $718,522,000 after purchasing an additional 1,743,945 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Arch Capital Group by 10,817.9% in the first quarter. GAMMA Investing LLC now owns 806,181 shares of the insurance provider's stock valued at $775,380,000 after purchasing an additional 798,797 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of Arch Capital Group in the first quarter valued at $71,769,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Arch Capital Group by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,576,223 shares of the insurance provider's stock valued at $330,264,000 after purchasing an additional 522,484 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup initiated coverage on Arch Capital Group in a report on Wednesday, August 13th. They issued a "buy" rating and a $113.00 target price for the company. Jefferies Financial Group downgraded shares of 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 research report on Tuesday, June 10th. Wells Fargo & Company decreased their price target on shares of Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Morgan Stanley set a $110.00 target price on shares of Arch Capital Group and gave the company an "overweight" rating in a research note on Monday, May 19th. Finally, UBS Group reiterated a "buy" rating and issued a $118.00 target price (down previously from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $111.27.

Arch Capital Group Price Performance

ACGL traded down $0.03 during midday trading on Friday, reaching $92.26. 1,256,486 shares of the company's stock were exchanged, compared to its average volume of 1,757,837. The firm has a market capitalization of $34.43 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 5.65 and a beta of 0.51. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47. The business has a 50-day simple moving average of $89.83 and a two-hundred day simple moving average of $91.37.

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

Insider Buying and Selling at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares of the company's stock, valued at approximately $40,822,404.35. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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.