Citigroup Inc. boosted its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 86.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 654,783 shares of the insurance provider's stock after buying an additional 303,104 shares during the period. Citigroup Inc. owned approximately 0.17% of Arch Capital Group worth $62,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new position in shares of Arch Capital Group in the fourth quarter valued at about $25,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Arch Capital Group in the first quarter worth about $27,000. Meeder Asset Management Inc. boosted its stake in shares of Arch Capital Group by 116.3% in the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after buying an additional 150 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Arch Capital Group in the first quarter worth about $31,000. Finally, Grove Bank & Trust purchased a new stake in shares of Arch Capital Group in the first quarter worth about $40,000. 89.07% of the stock is owned by institutional investors and hedge funds.
Arch Capital Group Price Performance
Shares of NASDAQ ACGL traded down $0.07 during midday trading on Friday, hitting $91.40. The stock had a trading volume of 753,436 shares, compared to its average volume of 1,927,141. The company has a market capitalization of $34.11 billion, a PE ratio of 9.43, a P/E/G ratio of 5.52 and a beta of 0.49. The stock has a 50 day simple moving average of $89.40 and a 200-day simple moving average of $91.29. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16.
Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.30 by $0.28. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%. The firm had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter last year, the firm earned $2.57 earnings per share. On average, sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.
Wall Street Analyst Weigh In
ACGL has been the topic of a number of recent research reports. Citigroup initiated coverage on Arch Capital Group in a research note on Wednesday. They issued a "buy" rating and a $113.00 target price on the stock. UBS Group restated a "buy" rating and issued a $118.00 target price (down previously from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Jefferies Financial Group downgraded Arch Capital Group from a "buy" rating to a "hold" rating and lowered their target price for the stock from $106.00 to $100.00 in a research note on Tuesday, June 10th. Wells Fargo & Company lowered their price target on Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.13.
Check Out Our Latest Research Report on ACGL
Arch Capital Group Profile
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Free Report)
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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