Swedbank AB Buys 98,873 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Swedbank AB increased its stake in Arch Capital Group Ltd. by 7.8%, owning approximately 0.36% of the company valued at $130.9 million after acquiring additional shares in Q1.
• The company reported $2.58 earnings per share for the last quarter, surpassing analysts' expectations of $2.30, and had a revenue of $4.35 billion.
• Despite recent analyst downgrades, the stock is rated as a "Moderate Buy" with an average consensus target price of $111.27.

Swedbank AB lifted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 7.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,360,830 shares of the insurance provider's stock after purchasing an additional 98,873 shares during the period. Swedbank AB owned approximately 0.36% of Arch Capital Group worth $130,885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Harbour Investments Inc. raised its position in shares of Arch Capital Group by 8.4% during the first quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider's stock worth $138,000 after purchasing an additional 111 shares during the period. Resonant Capital Advisors LLC raised its position in shares of 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 period. Venturi Wealth Management LLC raised its position in shares of 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 period. Hemington Wealth Management raised its position in shares of 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 period. Finally, Horizon Advisory Services Inc. raised its position in shares of 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 period. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Stock Up 1.2%

NASDAQ ACGL traded up $1.04 on Thursday, reaching $88.39. The stock had a trading volume of 960,888 shares, compared to its average volume of 1,923,910. The business has a 50 day moving average price of $89.78 and a 200 day moving average price of $91.30. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47. The company has a market capitalization of $32.99 billion, a price-to-earnings ratio of 9.13, a P/E/G ratio of 5.35 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 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 for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the company posted $2.57 earnings per share. On average, analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the business'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 owned 433,589 shares in the company, 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 SEC, which is available through the SEC website. 4.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ACGL. Jefferies Financial Group lowered Arch Capital Group from a "buy" rating to a "hold" rating and cut their target price for the stock from $106.00 to $100.00 in a research report on Tuesday, June 10th. Cantor Fitzgerald raised Arch Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Citigroup began coverage on Arch Capital Group in a research report on Wednesday, August 13th. They set a "buy" rating and a $113.00 price target on the stock. Wolfe Research began coverage on Arch Capital Group in a research report on Monday. They set a "peer perform" rating on the stock. Finally, UBS Group reissued a "buy" rating and set a $118.00 price target (down from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $111.27.

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.