Arch Capital Group Ltd. $ACGL Shares Bought by Waverly Advisors LLC

Key Points

• Waverly Advisors increased its Arch Capital Group stake by 1,045.4% in the first quarter, reaching 61,819 shares valued at approximately $5.9 million. Institutional investors collectively own 89.07% of the company.
• Analysts remain mixed but generally positive, with eight Buy, seven Hold and one Sell rating; the consensus rating is Hold with a $109.82 target price.
• Arch Capital reported quarterly EPS of $2.56, beating estimates of $2.47, while revenue reached $8.72 billion versus expectations of $4.36 billion. Shares opened at $106.48, near their 52-week high of $107.09.

Waverly Advisors LLC lifted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 1,045.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,819 shares of the insurance provider's stock after buying an additional 56,422 shares during the period. Waverly Advisors LLC's holdings in Arch Capital Group were worth $5,934,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Van Den Berg Management I Inc. raised its holdings in shares of Arch Capital Group by 0.8% during the 1st quarter. Van Den Berg Management I Inc. now owns 81,086 shares of the insurance provider's stock valued at $7,783,000 after buying an additional 647 shares during the period. Sustainable Insight Capital Management LLC purchased a new position in Arch Capital Group in the 1st quarter worth approximately $2,493,000. Arrowstreet Capital Limited Partnership grew its position in Arch Capital Group by 50.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,910,063 shares of the insurance provider's stock valued at $183,347,000 after acquiring an additional 641,462 shares in the last quarter. Bank of Nova Scotia grew its position in Arch Capital Group by 12.5% in the first quarter. Bank of Nova Scotia now owns 271,124 shares of the insurance provider's stock valued at $26,025,000 after acquiring an additional 30,117 shares in the last quarter. Finally, State of Wyoming raised its stake in shares of Arch Capital Group by 43.6% during the first quarter. State of Wyoming now owns 6,455 shares of the insurance provider's stock valued at $620,000 after purchasing an additional 1,959 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Citigroup boosted their target price on shares of Arch Capital Group from $120.00 to $122.50 and gave the stock a "buy" rating in a research report on Thursday, April 30th. UBS Group reaffirmed a "buy" rating and set a $120.00 price target (up from $114.00) on shares of Arch Capital Group in a report on Wednesday, July 8th. Atlantic Securities set a $126.00 price target on shares of Arch Capital Group in a research note on Wednesday, July 15th. Wells Fargo & Company boosted their price objective on shares of Arch Capital Group from $110.00 to $114.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Finally, Weiss Ratings cut shares of Arch Capital Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $109.82.

Arch Capital Group Price Performance

ACGL stock opened at $106.48 on Wednesday. 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 Ltd. has a 52-week low of $82.44 and a 52-week high of $107.09. The stock's 50 day moving average is $96.17 and its two-hundred day moving average is $95.97. The company has a market capitalization of $37.20 billion, a PE ratio of 8.18, a P/E/G ratio of 5.17 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its earnings results on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.47 by $0.09. The company 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 prior year, the business posted $2.58 EPS. Analysts predict that Arch Capital Group Ltd. will post 9.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arch Capital Group news, Director Brian S. Posner sold 3,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Joseph Houston acquired 5,300 shares of the firm's stock in a transaction on Thursday, April 30th. The shares were bought at an average cost of $94.08 per share, with a total value of $498,624.00. Following the completion of the acquisition, the director owned 9,915 shares in the company, valued at $932,803.20. This represents a 114.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.30% of the stock is currently owned by insiders.

Arch Capital Group 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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