Adage Capital Partners GP L.L.C. Increases Position in Arch Capital Group Ltd. $ACGL

Key Points

• Adage Capital Partners GP L.L.C. increased its holdings in Arch Capital Group by 11.1% during Q1, now owning approximately 0.11% of the company valued at $40.12 million.
• Insider transaction alert: Maamoun Rajeh sold 10,000 shares of Arch Capital, reducing their holdings by 2.25%, valued at nearly $941,500.
• Arch Capital Group's stock is currently rated as a Moderate Buy with a consensus price target of $111.27 after recent ratings by several analysts.

Adage Capital Partners GP L.L.C. boosted its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 11.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 417,100 shares of the insurance provider's stock after purchasing an additional 41,565 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.11% of Arch Capital Group worth $40,117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ACGL. Capital A Wealth Management LLC purchased a new position in Arch Capital Group during the fourth quarter worth approximately $25,000. Meeder Asset Management Inc. increased its stake in Arch Capital Group by 116.3% during the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after acquiring an additional 150 shares during the last quarter. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Arch Capital Group in the first quarter valued at $27,000. Wayfinding Financial LLC acquired a new stake in shares of Arch Capital Group in the first quarter valued at $31,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Arch Capital Group in the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Buying and Selling

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the transaction, the insider directly owned 433,589 shares of the company's stock, valued at $40,822,404.35. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ACGL. Morgan Stanley set a $110.00 price target on Arch Capital Group and gave the stock an "overweight" rating in a report on Monday, May 19th. Cowen restated a "buy" rating on shares of Arch Capital Group in a research report on Monday, August 4th. Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a research report on Wednesday, August 13th. UBS Group reiterated a "buy" rating and set a $118.00 target price (down previously from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Finally, Jefferies Financial Group cut Arch Capital Group from a "buy" rating to a "hold" rating and lowered their price target for the stock from $106.00 to $100.00 in a report on Tuesday, June 10th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $111.27.

Arch Capital Group Trading Down 0.6%

Shares of ACGL traded down $0.59 during trading hours on Tuesday, hitting $90.32. The stock had a trading volume of 670,847 shares, compared to its average volume of 1,915,952. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $33.71 billion, a P/E ratio of 9.33, a P/E/G ratio of 5.59 and a beta of 0.51. The company's fifty day simple moving average is $89.70 and its 200 day simple moving average is $91.35. Arch Capital Group Ltd. has a 12-month low of $82.49 and a 12-month high of $116.47.

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

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.