Arch Capital Group Ltd. $ACGL Shares Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Arch Capital Group Ltd. by 7.0%, owning approximately 0.08% of the company worth $26.99 million after acquiring additional shares in Q2.
• JPMorgan Chase & Co. significantly boosted its position in Arch Capital by 30.5% during the 1st quarter, bringing its total shares to 7.47 million valued at $718.52 million.
• Arch Capital Group announced earnings of $2.58 EPS for the most recent quarter, exceeding analyst estimates, with projected 8.42 EPS for the current year.

Aberdeen Group plc boosted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 7.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 296,467 shares of the insurance provider's stock after purchasing an additional 19,433 shares during the quarter. Aberdeen Group plc owned approximately 0.08% of Arch Capital Group worth $26,993,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Arch Capital Group by 30.5% during the 1st quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock valued at $718,522,000 after purchasing an additional 1,743,945 shares during the period. Northern Trust Corp boosted its position in Arch Capital Group by 3.0% during 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 during the period. Madison Asset Management LLC boosted its position in Arch Capital Group by 9.0% during 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 during the period. Egerton Capital UK LLP boosted its position in Arch Capital Group by 8.5% during 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 purchasing an additional 337,245 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Arch Capital Group by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,176,984 shares of the insurance provider's stock worth $401,710,000 after acquiring an additional 26,160 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Arch Capital Group Stock Down 0.2%

Shares of Arch Capital Group stock opened at $92.25 on Tuesday. The stock's fifty day moving average is $90.70 and its 200-day moving average is $91.01. The firm has a market capitalization of $34.43 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 5.47 and a beta of 0.47. 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 Ltd. has a 12-month low of $82.49 and a 12-month high of $113.10.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.28. The company 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 in the previous year, the firm earned $2.57 earnings per share. Equities analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insider Activity

In other news, insider Maamoun Rajeh sold 10,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the sale, the insider directly owned 433,589 shares of the company's stock, valued at $40,822,404.35. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on ACGL shares. Wells Fargo & Company boosted their price target on Arch Capital Group from $107.00 to $111.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 8th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Arch Capital Group in a research report on Wednesday, October 8th. Barclays set a $99.00 price target on Arch Capital Group and gave the stock an "equal weight" rating in a research report on Wednesday, October 8th. Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Finally, 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. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Arch Capital Group has a consensus rating of "Moderate Buy" and a consensus price target of $110.31.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.