Apexium Financial LP Has $8.13 Million Holdings in Arch Capital Group Ltd. $ACGL

Key Points

• Apexium Financial LP increased its stake in Arch Capital Group Ltd. (NASDAQ: ACGL) by 9.5%, acquiring a total of 84,574 shares valued at approximately $8.13 million.
• Arch Capital Group reported a quarterly earnings per share of $2.58, surpassing analysts' expectations of $2.30, with revenues of $4.35 billion.
• The stock has been rated with a consensus of "Moderate Buy" by analysts, with an average target price of $111.27.

Apexium Financial LP lifted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 84,574 shares of the insurance provider's stock after acquiring an additional 7,371 shares during the quarter. Apexium Financial LP's holdings in Arch Capital Group were worth $8,134,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ACGL. Jump Financial LLC increased its holdings in shares of Arch Capital Group by 6.9% during the 4th quarter. Jump Financial LLC now owns 3,384 shares of the insurance provider's stock valued at $313,000 after acquiring an additional 218 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Arch Capital Group by 2.2% during the 4th quarter. Hsbc Holdings PLC now owns 475,852 shares of the insurance provider's stock valued at $43,818,000 after acquiring an additional 10,198 shares during the last quarter. Dark Forest Capital Management LP increased its holdings in shares of Arch Capital Group by 107.7% during the 4th quarter. Dark Forest Capital Management LP now owns 5,771 shares of the insurance provider's stock valued at $533,000 after acquiring an additional 2,992 shares during the last quarter. Coppell Advisory Solutions LLC boosted its stake in Arch Capital Group by 281.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,037 shares of the insurance provider's stock valued at $95,000 after purchasing an additional 765 shares during the period. Finally, Kovitz Investment Group Partners LLC bought a new stake in Arch Capital Group during the 4th quarter valued at approximately $221,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

ACGL has been the subject of several recent analyst reports. Morgan Stanley set a $110.00 target price on Arch Capital Group and gave the company an "overweight" rating in a research note on Monday, May 19th. UBS Group restated a "buy" rating and set a $118.00 target price (down previously from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Citigroup assumed coverage on Arch Capital Group in a research note on Wednesday, August 13th. They set a "buy" rating and a $113.00 target price for the company. Jefferies Financial Group lowered Arch Capital Group from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $106.00 to $100.00 in a report on Tuesday, June 10th. Finally, Cowen reissued a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $111.27.

Arch Capital Group Trading Up 0.6%

Shares of NASDAQ ACGL traded up $0.52 during midday trading on Friday, hitting $91.72. The stock had a trading volume of 398,296 shares, compared to its average volume of 1,915,512. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The company's 50-day simple moving average is $89.53 and its 200 day simple moving average is $91.18. The firm has a market cap of $34.23 billion, a P/E ratio of 9.46, a price-to-earnings-growth ratio of 5.62 and a beta of 0.49.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same period in the previous year, the firm earned $2.57 earnings per share. Research analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insider Transactions at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of the company's stock in a transaction dated 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 owned 433,589 shares in the company, valued at approximately $40,822,404.35. This represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.20% of the company's stock.

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.