Arch Capital Group Ltd. $ACGL Shares Bought by Smith Group Asset Management LLC

Key Points

• Smith Group Asset Management increased its Arch Capital position by 7.7% in the first quarter, adding 29,591 shares for a total of 412,379 shares valued at approximately $39.6 million. Institutional investors collectively own 89.07% of the company.
• Arch Capital reported quarterly earnings of $2.56 per share, beating analysts’ $2.47 estimate, while revenue reached $8.72 billion versus expectations of $4.36 billion.
• ACGL shares opened at $106.48, near their 52-week high, while analysts maintain a consensus “Hold” rating and an average price target of $109.82.

Smith Group Asset Management LLC grew its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 412,379 shares of the insurance provider's stock after buying an additional 29,591 shares during the period. Arch Capital Group accounts for approximately 2.0% of Smith Group Asset Management LLC's investment portfolio, making the stock its 24th largest position. Smith Group Asset Management LLC owned 0.12% of Arch Capital Group worth $39,584,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ACGL. Legacy Advisors LLC raised its position in shares of Arch Capital Group by 1.2% during the 4th quarter. Legacy Advisors LLC now owns 9,551 shares of the insurance provider's stock valued at $916,000 after buying an additional 112 shares during the period. Twin Capital Management Inc. grew its position in Arch Capital Group by 1.4% in the first quarter. Twin Capital Management Inc. now owns 8,177 shares of the insurance provider's stock worth $785,000 after acquiring an additional 116 shares during the period. V Square Quantitative Management LLC grew its position in Arch Capital Group by 1.3% in the first quarter. V Square Quantitative Management LLC now owns 9,453 shares of the insurance provider's stock worth $907,000 after acquiring an additional 123 shares during the period. TD Waterhouse Canada Inc. increased its stake in Arch Capital Group by 72.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider's stock worth $31,000 after acquiring an additional 136 shares during the last quarter. Finally, Transamerica Financial Advisors LLC increased its stake in Arch Capital Group by 12.7% during the second quarter. Transamerica Financial Advisors LLC now owns 1,245 shares of the insurance provider's stock worth $113,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Arch Capital Group Stock Up 2.5%

NASDAQ:ACGL opened at $106.48 on Wednesday. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $107.09. The stock's fifty day moving average is $96.17 and its two-hundred day moving average is $95.97. The stock has a market capitalization of $37.20 billion, a price-to-earnings ratio of 8.18, a price-to-earnings-growth ratio of 5.17 and a beta of 0.31. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.09. The business had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $4.36 billion. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.During the same period in the previous year, the firm posted $2.58 earnings per share. Research analysts anticipate that Arch Capital Group Ltd. will post 9.34 EPS for the current year.

Insider Activity

In other news, Director Daniel Joseph Houston bought 5,300 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was bought at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the acquisition, the director directly owned 9,915 shares of the company's stock, valued at $932,803.20. The trade was a 114.84% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian S. Posner sold 3,000 shares of Arch Capital Group stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. 3.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on ACGL shares. Citigroup upped their price target on Arch Capital Group from $120.00 to $122.50 and gave the company a "buy" rating in a research note on Thursday, April 30th. Keefe, Bruyette & Woods cut their price objective on Arch Capital Group from $102.00 to $99.00 and set a "market perform" rating for the company in a research report on Wednesday, July 8th. JPMorgan Chase & Co. boosted their price objective on shares of Arch Capital Group from $110.00 to $116.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Mizuho boosted their price objective on shares of Arch Capital Group from $101.00 to $104.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Finally, Atlantic Securities set a $126.00 target price on shares of Arch Capital Group in a research report on Wednesday, July 15th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Arch Capital Group presently has an average rating of "Hold" and a consensus price target of $109.82.

Arch Capital Group Company Profile

Arch Capital Group Ltd. NASDAQ: ACGL is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.

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