Aberdeen Group plc Boosts Holdings in Arch Capital Group Ltd. $ACGL

Key Points

• Aberdeen Group plc increased its stake in Arch Capital Group by 72.0% in Q1, owning $26.52 million worth of shares after purchasing an additional 115,940 shares.
• Major institutional investors, including JPMorgan Chase and Nuveen Asset Management, have also significantly raised their stakes in Arch Capital Group, contributing to institutional ownership of 89.07%.
• Arch Capital Group has received several positive ratings from analysts, with an average price target of $112.13 and many analysts classifying it as a "Moderate Buy."

Aberdeen Group plc grew its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 72.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 277,034 shares of the insurance provider's stock after buying an additional 115,940 shares during the period. Aberdeen Group plc owned 0.07% of Arch Capital Group worth $26,520,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Harbour Investments Inc. raised its position in shares of Arch Capital Group by 8.4% in the first quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider's stock valued at $138,000 after buying an additional 111 shares during the last quarter. Resonant Capital Advisors LLC increased its position in Arch Capital Group by 1.7% during the first quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider's stock worth $642,000 after purchasing an additional 113 shares during the last quarter. Venturi Wealth Management LLC increased its position in Arch Capital Group by 0.9% during the first quarter. Venturi Wealth Management LLC now owns 13,228 shares of the insurance provider's stock worth $1,272,000 after purchasing an additional 115 shares during the last quarter. Hemington Wealth Management increased its position in Arch Capital Group by 27.7% during the first quarter. Hemington Wealth Management now owns 548 shares of the insurance provider's stock worth $52,000 after purchasing an additional 119 shares during the last quarter. Finally, Horizon Advisory Services Inc. increased its position in Arch Capital Group by 4.2% during the first quarter. Horizon Advisory Services Inc. now owns 2,996 shares of the insurance provider's stock worth $288,000 after purchasing an additional 120 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Trading Down 0.1%

Shares of ACGL traded down $0.13 during trading on Friday, reaching $93.41. 1,820,208 shares of the company traded hands, compared to its average volume of 2,271,198. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47. The stock has a market cap of $34.86 billion, a PE ratio of 9.64, a price-to-earnings-growth ratio of 5.72 and a beta of 0.49. The stock has a 50-day simple moving average of $89.45 and a 200-day simple moving average of $91.21. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The business had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same period last year, the business earned $2.57 earnings per share. On average, analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

About Arch Capital Group

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.