Arch Capital Group Ltd. $ACGL Shares Purchased by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its Arch Capital Group stake by 83% in the first quarter, ending with 32,390 shares valued at approximately $3.1 million. Institutional investors and hedge funds collectively own 89.07% of ACGL.
• Analyst sentiment is mixed: seven analysts rate ACGL a Buy, seven a Hold, and one a Sell. The consensus rating is Hold, with an average price target of $110.96.
• Arch Capital reported quarterly EPS of $2.56, exceeding estimates of $2.47, while revenue reached $8.72 billion. The stock opened at $101.12, up 0.6%, and analysts expect full-year EPS of $9.36.

Empowered Funds LLC boosted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 83.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,390 shares of the insurance provider's stock after acquiring an additional 14,690 shares during the quarter. Empowered Funds LLC's holdings in Arch Capital Group were worth $3,109,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quantinno Capital Management LP increased its stake in Arch Capital Group by 33.5% during the first quarter. Quantinno Capital Management LP now owns 248,635 shares of the insurance provider's stock worth $23,866,000 after purchasing an additional 62,387 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Arch Capital Group by 213.6% in the first quarter. Lazard Asset Management LLC now owns 28,431 shares of the insurance provider's stock valued at $2,729,000 after purchasing an additional 19,364 shares during the period. Gateway Wealth Partners LLC acquired a new position in shares of Arch Capital Group in the first quarter valued at approximately $754,000. Weiss Asset Management LP grew its holdings in shares of Arch Capital Group by 88.5% in the first quarter. Weiss Asset Management LP now owns 42,300 shares of the insurance provider's stock valued at $4,060,000 after purchasing an additional 19,860 shares in the last quarter. Finally, Delta Global Management LP increased its stake in Arch Capital Group by 78.9% during the 1st quarter. Delta Global Management LP now owns 13,552 shares of the insurance provider's stock worth $1,301,000 after buying an additional 5,975 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on ACGL. Weiss Ratings downgraded shares of Arch Capital Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 18th. Citigroup reiterated a "market outperform" rating on shares of Arch Capital Group in a report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their target price on Arch Capital Group from $110.00 to $116.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Mizuho increased their price target on Arch Capital Group from $101.00 to $104.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Finally, Morgan Stanley lifted their price objective on Arch Capital Group from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $110.96.

Arch Capital Group Stock Up 0.6%

Arch Capital Group stock opened at $101.12 on Tuesday. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $107.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.55. The stock has a market cap of $35.33 billion, a PE ratio of 7.91, a P/E/G ratio of 10.63 and a beta of 0.31. The stock's fifty day moving average is $96.60 and its two-hundred day moving average is $96.20.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.09. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.The company had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the previous year, the business earned $2.58 EPS. On average, sell-side analysts expect that Arch Capital Group Ltd. will post 9.36 EPS for the current fiscal year.

Insider Transactions at Arch Capital Group

In related news, Director Brian S. Posner sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.30% of the stock is owned by company 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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