Benjamin Edwards Inc. Acquires 3,692 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• Benjamin Edwards Inc. has increased its stake in Arch Capital Group Ltd. by 21.2%, now holding a total of 21,093 shares valued at approximately $2,029,000.
• Institutional investors own 89.07% of Arch Capital Group's stock, indicating a strong institutional interest in the company.
• Arch Capital Group reported earnings of $2.58 per share, exceeding analyst expectations, with a revenue of $4.35 billion for the quarter.

Benjamin Edwards Inc. raised its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 21.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,093 shares of the insurance provider's stock after buying an additional 3,692 shares during the quarter. Benjamin Edwards Inc.'s holdings in Arch Capital Group were worth $2,029,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new stake in Arch Capital Group during the 4th quarter worth about $537,000. Raymond James Financial Inc. purchased a new position in shares of Arch Capital Group in the 4th quarter valued at about $41,876,000. Sterling Capital Management LLC increased its holdings in shares of Arch Capital Group by 55.4% in the 4th quarter. Sterling Capital Management LLC now owns 21,493 shares of the insurance provider's stock valued at $1,985,000 after acquiring an additional 7,665 shares during the last quarter. Townsquare Capital LLC increased its holdings in shares of Arch Capital Group by 72.2% in the 4th quarter. Townsquare Capital LLC now owns 13,719 shares of the insurance provider's stock valued at $1,267,000 after acquiring an additional 5,750 shares during the last quarter. Finally, Advisors Capital Management LLC increased its holdings in shares of Arch Capital Group by 18.9% in the 4th quarter. Advisors Capital Management LLC now owns 3,760 shares of the insurance provider's stock valued at $347,000 after acquiring an additional 597 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Stock Performance

Shares of NASDAQ:ACGL traded down $0.68 during midday trading on Friday, hitting $90.78. The company's stock had a trading volume of 1,733,221 shares, compared to its average volume of 1,933,183. The stock has a market capitalization of $33.88 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 5.52 and a beta of 0.49. The stock's 50 day simple moving average is $89.40 and its 200 day simple moving average is $91.29. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The company had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the previous year, the company posted $2.57 earnings per share. As a group, research analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ACGL shares. JMP Securities reiterated a "market outperform" rating and issued a $125.00 price objective on shares of Arch Capital Group in a report on Wednesday, April 30th. Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their price target on Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a research note on Thursday. Citigroup began coverage on Arch Capital Group in a research note on Wednesday. They set a "buy" rating and a $113.00 price target on the stock. Finally, Cowen restated a "buy" rating on shares of Arch Capital Group in a research note on Monday, August 4th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $112.13.

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.