Confluence Investment Management LLC Buys Shares of 400,697 Arch Capital Group Ltd. (NASDAQ:ACGL)

Confluence Investment Management LLC purchased a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 400,697 shares of the insurance provider's stock, valued at approximately $38,539,000. Confluence Investment Management LLC owned about 0.11% of Arch Capital Group at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its holdings in shares of Arch Capital Group by 0.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 32,147 shares of the insurance provider's stock valued at $2,969,000 after acquiring an additional 110 shares in the last quarter. Cim LLC raised its holdings in shares of Arch Capital Group by 1.1% during the fourth quarter. Cim LLC now owns 11,194 shares of the insurance provider's stock valued at $1,034,000 after acquiring an additional 124 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in shares of Arch Capital Group by 4.9% during the fourth quarter. CreativeOne Wealth LLC now owns 2,682 shares of the insurance provider's stock valued at $248,000 after acquiring an additional 126 shares in the last quarter. HBK Sorce Advisory LLC raised its holdings in shares of Arch Capital Group by 5.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 2,373 shares of the insurance provider's stock valued at $219,000 after acquiring an additional 127 shares in the last quarter. Finally, Flagship Harbor Advisors LLC raised its holdings in shares of Arch Capital Group by 5.9% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,315 shares of the insurance provider's stock valued at $214,000 after acquiring an additional 129 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Insider Activity at Arch Capital Group

In related news, insider John M. Pasquesi sold 75,060 shares of the stock in a transaction on 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 directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Louis T. Petrillo sold 11,600 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $91.00, for a total value of $1,055,600.00. Following the completion of the transaction, the insider now directly owns 140,023 shares in the company, valued at approximately $12,742,093. This represents a 7.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 123,576 shares of company stock valued at $11,586,638 over the last ninety days. Insiders own 4.20% of the company's stock.

Arch Capital Group Stock Up 0.9%

Shares of NASDAQ ACGL traded up $0.86 during trading on Friday, reaching $95.06. The company had a trading volume of 2,897,694 shares, compared to its average volume of 1,691,912. Arch Capital Group Ltd. has a 12-month low of $82.49 and a 12-month high of $116.47. The stock has a market cap of $35.62 billion, a PE ratio of 8.49, a P/E/G ratio of 2.31 and a beta of 0.57. The business's 50-day moving average is $92.63 and its 200 day moving average is $93.10. 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 (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.05). Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. The business had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.75 billion. During the same period last year, the business earned $2.45 earnings per share. The company's quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ACGL. Barclays decreased their price objective on Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Royal Bank of Canada decreased their price objective on Arch Capital Group from $125.00 to $110.00 and set an "outperform" rating for the company in a report on Wednesday, February 12th. 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 report on Thursday, May 1st. Keefe, Bruyette & Woods increased their price objective on Arch Capital Group from $104.00 to $113.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Finally, UBS Group decreased their price objective on Arch Capital Group from $127.00 to $124.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Arch Capital Group has an average rating of "Moderate Buy" and an average price target of $115.00.

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.