American Century Companies Inc. Buys 96,054 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• American Century Companies Inc. increased its stake in Arch Capital Group by 22.4%, acquiring an additional 96,054 shares to own a total of 525,068 shares valued at $50.5 million.
• Research firm Jefferies Financial Group downgraded Arch Capital Group from a "buy" to a "hold" rating, while other analysts have given varied ratings, resulting in a consensus rating of "Moderate Buy."
• Arch Capital Group reported a net margin of 19.49% and earnings per share of $2.58, surpassing estimates, with a predicted EPS of 8.42 for the current fiscal year.

American Century Companies Inc. grew its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 22.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 525,068 shares of the insurance provider's stock after acquiring an additional 96,054 shares during the period. American Century Companies Inc. owned about 0.14% of Arch Capital Group worth $50,501,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in Arch Capital Group by 30.5% in the 1st quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock worth $718,522,000 after purchasing an additional 1,743,945 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Arch Capital Group by 1.9% in the fourth quarter. Nuveen Asset Management LLC now owns 4,888,997 shares of the insurance provider's stock worth $451,499,000 after acquiring an additional 93,226 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Arch Capital Group by 11.3% during the fourth quarter. Northern Trust Corp now owns 4,860,804 shares of the insurance provider's stock valued at $448,895,000 after acquiring an additional 495,262 shares during the period. Madison Asset Management LLC raised its holdings in shares of Arch Capital Group by 9.0% during the first quarter. Madison Asset Management LLC now owns 4,837,602 shares of the insurance provider's stock valued at $465,281,000 after acquiring an additional 397,857 shares during the period. Finally, Egerton Capital UK LLP lifted its position in shares of Arch Capital Group by 8.5% in the 1st quarter. Egerton Capital UK LLP now owns 4,325,217 shares of the insurance provider's stock valued at $415,999,000 after acquiring an additional 337,245 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ACGL. Cantor Fitzgerald raised shares of Arch Capital Group to a "hold" rating in a research note on Wednesday, August 13th. JMP Securities reissued a "market outperform" rating and issued a $125.00 price objective on shares of Arch Capital Group in a research note on Wednesday, April 30th. Cowen reiterated a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Keefe, Bruyette & Woods boosted their price objective on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a "market perform" rating in a research report on Thursday, August 14th. Finally, Wells Fargo & Company dropped their price target on shares of Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $111.27.

Arch Capital Group Stock Performance

ACGL traded down $1.17 during trading on Monday, hitting $92.24. The stock had a trading volume of 108,635 shares, compared to its average volume of 1,919,782. The firm has a market cap of $34.43 billion, a PE ratio of 9.52, a P/E/G ratio of 5.72 and a beta of 0.49. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47. The company has a 50 day simple moving average of $89.45 and a 200-day simple moving average of $91.19.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.28. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the company posted $2.57 earnings per share. Analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Arch Capital Group 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.