Amundi Acquires 410,825 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Amundi increased its stake in Arch Capital Group by 32.3% during the first quarter, owning a total of 1,683,211 shares valued at approximately $162 million.
• Insider Maamoun Rajeh sold 10,000 shares of Arch Capital, reducing his stake to about 433,589 shares, valued at approximately $40.82 million following the sale.
• The stock has a market capitalization of $34.42 billion and recently demonstrated a net margin of 19.49% with an earnings per share (EPS) of $2.58, outperforming estimates.

Amundi raised its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 32.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,683,211 shares of the insurance provider's stock after purchasing an additional 410,825 shares during the quarter. Amundi owned 0.45% of Arch Capital Group worth $162,060,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted 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 valued at $718,522,000 after buying an additional 1,743,945 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Arch Capital Group by 3.0% in the 1st quarter. Northern Trust Corp now owns 5,005,790 shares of the insurance provider's stock valued at $481,457,000 after purchasing an additional 144,986 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Arch Capital Group by 1.9% in the 4th quarter. Nuveen Asset Management LLC now owns 4,888,997 shares of the insurance provider's stock valued at $451,499,000 after purchasing an additional 93,226 shares in the last quarter. Madison Asset Management LLC boosted its stake in shares of Arch Capital Group by 9.0% in the 1st quarter. Madison Asset Management LLC now owns 4,837,602 shares of the insurance provider's stock valued at $465,281,000 after purchasing an additional 397,857 shares in the last quarter. Finally, Egerton Capital UK LLP boosted its position in Arch Capital Group by 8.5% in the first quarter. Egerton Capital UK LLP now owns 4,325,217 shares of the insurance provider's stock valued at $415,999,000 after buying an additional 337,245 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Trading Up 0.3%

Shares of ACGL stock traded up $0.30 during trading hours on Wednesday, reaching $89.91. The company had a trading volume of 362,242 shares, compared to its average volume of 1,918,183. The company has a 50 day moving average of $89.66 and a 200 day moving average of $91.34. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $33.56 billion, a price-to-earnings ratio of 9.28, a P/E/G ratio of 5.57 and a beta of 0.51. Arch Capital Group Ltd. has a 1-year low of $82.49 and a 1-year high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the firm posted $2.57 earnings per share. On average, equities research analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods boosted 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, August 14th. Citigroup started coverage on Arch Capital Group in a research note on Wednesday, August 13th. They issued a "buy" rating and a $113.00 price objective on the stock. Cowen reissued a "buy" rating on shares of Arch Capital Group in a research note on Monday, August 4th. UBS Group reiterated a "buy" rating and set a $118.00 price target (down previously from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Finally, Morgan Stanley set a $110.00 price target on shares of Arch Capital Group and gave the stock an "overweight" rating in a research report on Monday, May 19th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.27.

Insider Buying and Selling at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the sale, the insider directly owned 433,589 shares in the company, valued at $40,822,404.35. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.10% of the stock is owned by corporate insiders.

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.