Arch Capital Group Ltd. $ACGL Stock Acquired by Kinsale Capital Group Inc.

Key Points

• Kinsale Capital increased its Arch Capital stake by 47.3% in the third quarter, adding 53,234 shares to hold 165,784 shares worth approximately $15.3 million.
• Arch Capital reported quarterly EPS of $2.67, beating the $2.31 consensus, and revenue of $4.66 billion versus the $4.06 billion estimate.
• Analyst sentiment is mixed but leans positive: seven analysts rate ACGL a Buy, eight a Hold, and one a Sell; the consensus rating is Hold with a $111.65 price target.

Kinsale Capital Group Inc. grew its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 47.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 165,784 shares of the insurance provider's stock after buying an additional 53,234 shares during the period. Arch Capital Group accounts for approximately 2.1% of Kinsale Capital Group Inc.'s portfolio, making the stock its 16th largest position. Kinsale Capital Group Inc.'s holdings in Arch Capital Group were worth $15,312,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ACGL. Horizons Wealth Management acquired a new position in Arch Capital Group in the 3rd quarter valued at about $25,000. Torren Management LLC lifted its position in Arch Capital Group by 66.9% during the 2nd quarter. Torren Management LLC now owns 292 shares of the insurance provider's stock worth $28,000 after acquiring an additional 117 shares during the period. Continuum Advisory LLC acquired a new stake in Arch Capital Group during the 2nd quarter worth approximately $46,000. Provenance Wealth Advisors LLC acquired a new stake in Arch Capital Group during the 3rd quarter worth approximately $55,000. Finally, Allied Private Wealth LLC purchased a new position in shares of Arch Capital Group in the 2nd quarter valued at approximately $69,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Evercore lowered their target price on shares of Arch Capital Group from $105.00 to $103.00 in a report on Wednesday, October 28th. Citigroup lifted their price objective on Arch Capital Group from $122.50 to $125.00 and gave the company a "buy" rating in a report on Thursday, October 29th. Weiss Ratings upgraded Arch Capital Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, October 9th. Cantor Fitzgerald set a $106.00 target price on Arch Capital Group in a research note on Tuesday, November 3rd. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $120.00 target price (up from $115.00) on shares of Arch Capital Group in a research note on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $111.65.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $108.12 on Tuesday. Arch Capital Group Ltd. has a fifty-two week low of $87.05 and a fifty-two week high of $113.63. The stock has a market cap of $36.89 billion, a price-to-earnings ratio of 8.84, a price-to-earnings-growth ratio of 3.65 and a beta of 0.22. The business has a fifty day moving average of $99.03 and a 200-day moving average of $97.30. The company has a quick ratio of 0.57, a current ratio of 0.56 and a debt-to-equity ratio of 0.21.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The insurance provider reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.36. Arch Capital Group had a return on equity of 16.62% and a net margin of 23.31%. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the previous year, the firm posted $2.77 EPS. As a group, analysts predict that Arch Capital Group Ltd. will post 10.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In related news, CFO Francois Morin sold 11,010 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total value of $1,093,513.20. Following the transaction, the chief financial officer directly owned 184,826 shares of the company's stock, valued at approximately $18,356,918.32. This trade represents a 5.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.30% of the company's stock.

About Arch Capital Group

Arch Capital Group Ltd. is a global insurance and reinsurance company headquartered in Bermuda. Through its insurance, reinsurance and mortgage insurance operations, it provides coverage and risk-management solutions to businesses, financial institutions and other customers.

The company's offerings include property and casualty insurance, specialty coverage and reinsurance for risks such as property, casualty and professional liability. Its mortgage insurance business serves lenders and borrowers, primarily in the United States.

Arch conducts business in multiple markets around the world through subsidiaries and operating units.

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