Allstate Corp Boosts Stock Position in Arch Capital Group Ltd. $ACGL

Key Points

• Allstate Corp more than doubled its stake in Arch Capital Group during the fourth quarter, increasing holdings by 113.8% to 27,407 shares worth about $2.63 million.
• Several other institutional investors also added to their positions, and hedge funds and other institutions now own 89.07% of Arch Capital Group’s stock.
• The stock was down 4.2% on the day, while Wall Street remains cautious overall with an average Hold rating and a consensus price target of $106.32.

Allstate Corp boosted its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 113.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,407 shares of the insurance provider's stock after acquiring an additional 14,586 shares during the quarter. Allstate Corp's holdings in Arch Capital Group were worth $2,629,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Daymark Wealth Partners LLC boosted its holdings in Arch Capital Group by 3.4% during the 4th quarter. Daymark Wealth Partners LLC now owns 3,211 shares of the insurance provider's stock valued at $308,000 after acquiring an additional 106 shares during the period. Keel Point LLC boosted its holdings in Arch Capital Group by 4.6% during the 3rd quarter. Keel Point LLC now owns 2,524 shares of the insurance provider's stock valued at $229,000 after acquiring an additional 112 shares during the period. Legacy Advisors LLC lifted its holdings in shares of Arch Capital Group by 1.2% in the 4th quarter. Legacy Advisors LLC now owns 9,551 shares of the insurance provider's stock worth $916,000 after buying an additional 112 shares during the period. Compound Planning Inc. lifted its holdings in shares of Arch Capital Group by 5.0% in the 3rd quarter. Compound Planning Inc. now owns 2,644 shares of the insurance provider's stock worth $240,000 after buying an additional 127 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of Arch Capital Group by 72.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider's stock worth $31,000 after buying an additional 136 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Transactions at Arch Capital Group

In other news, Director Brian S. Posner sold 3,000 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $17.11, for a total value of $51,330.00. Following the transaction, the director directly owned 2,000 shares of the company's stock, valued at approximately $34,220. This represents a 60.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Joseph Houston acquired 5,300 shares of the business's stock in a transaction dated Thursday, April 30th. The stock was purchased at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the acquisition, the director directly owned 9,915 shares of the company's stock, valued at approximately $932,803.20. This trade represents a 114.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 32,837 shares of company stock valued at $2,766,946 over the last three months. Company insiders own 3.30% of the company's stock.

Arch Capital Group Stock Down 4.2%

Shares of ACGL stock opened at $91.40 on Thursday. The stock's 50-day simple moving average is $95.43 and its 200-day simple moving average is $95.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market capitalization of $31.93 billion, a PE ratio of 7.02, a P/E/G ratio of 5.25 and a beta of 0.35. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $103.39.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. The business had revenue of $4.52 billion for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%. Equities analysts expect that Arch Capital Group Ltd. will post 9.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ACGL. Weiss Ratings cut Arch Capital Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 18th. Morgan Stanley set a $105.00 price objective on Arch Capital Group in a research note on Friday, May 1st. Barclays upped their price objective on Arch Capital Group from $104.00 to $106.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods decreased their price objective on Arch Capital Group from $105.00 to $102.00 and set a "market perform" rating for the company in a research note on Tuesday, May 5th. Finally, Mizuho decreased their price objective on Arch Capital Group from $102.00 to $101.00 and set a "neutral" rating for the company in a research note on Tuesday, May 5th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Arch Capital Group currently has an average rating of "Hold" and an average target price of $106.32.

Arch Capital Group Company Profile

Arch Capital Group Ltd. NASDAQ: ACGL is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.

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