Bennett Selby Investments LP Invests $571,000 in Arch Capital Group Ltd. $ACGL

Key Points

• Bennett Selby Investments LP invested $571,000 in Arch Capital Group Ltd., acquiring 6,274 shares in the second quarter.
• Institutional investors hold 89.07% of Arch Capital Group's stock, indicating strong institutional confidence in the company's performance.
• Arch Capital Group reported an EPS of $2.58 for the last quarter, exceeding analyst expectations of $2.30.

Bennett Selby Investments LP acquired a new position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,274 shares of the insurance provider's stock, valued at approximately $571,000.

A number of other institutional investors have also added to or reduced their stakes in ACGL. Nuveen LLC acquired a new position in Arch Capital Group during the first quarter worth $399,651,000. JPMorgan Chase & Co. grew its stake in shares of Arch Capital Group by 30.5% in the first quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock valued at $718,522,000 after acquiring an additional 1,743,945 shares in the last quarter. GQG Partners LLC acquired a new position in shares of Arch Capital Group in the first quarter valued at about $71,769,000. Champlain Investment Partners LLC acquired a new position in shares of Arch Capital Group in the first quarter valued at about $48,040,000. Finally, Amundi lifted its position in Arch Capital Group by 32.3% during the first quarter. Amundi now owns 1,683,211 shares of the insurance provider's stock worth $162,060,000 after purchasing an additional 410,825 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Stock Down 1.2%

Shares of NASDAQ ACGL opened at $89.83 on Tuesday. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $33.53 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 5.56 and a beta of 0.51. The business has a 50-day moving average of $89.88 and a 200-day moving average of $91.20.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.30 by $0.28. The company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.During the same quarter in the previous year, the firm earned $2.57 earnings per share. Sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares in the company, valued at approximately $40,822,404.35. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

ACGL has been the subject of several recent analyst reports. UBS Group reaffirmed a "buy" rating and set a $118.00 price objective (down previously from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Wolfe Research assumed coverage on shares of Arch Capital Group in a research report on Monday, September 15th. They set a "peer perform" rating for the company. Cantor Fitzgerald raised shares of Arch Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Cowen reiterated a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Finally, Wells Fargo & Company dropped their price objective on Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $109.36.

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.

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