Dark Forest Capital Management LP Raises Stock Position in Arch Capital Group Ltd. $ACGL

Key Points

• Dark Forest Capital Management LP significantly increased its stake in Arch Capital Group Ltd. by 549.4%, now holding a position worth $3.60 million.
• During the 1st quarter, several institutional investors, including First Manhattan CO. and Royal Bank of Canada, also boosted their holdings in Arch Capital, with institutional investors now owning 89.07% of the company's stock.
• Despite mixed ratings from analysts, Arch Capital Group has a consensus rating of "Moderate Buy" with an average price target of $111.27.

Dark Forest Capital Management LP raised its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 549.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,474 shares of the insurance provider's stock after purchasing an additional 31,703 shares during the quarter. Dark Forest Capital Management LP's holdings in Arch Capital Group were worth $3,604,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ACGL. Harbour Investments Inc. raised its position in Arch Capital Group by 8.4% during the first quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider's stock worth $138,000 after acquiring an additional 111 shares during the period. Resonant Capital Advisors LLC raised its position in Arch Capital Group by 1.7% during the first quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider's stock worth $642,000 after acquiring an additional 113 shares during the period. Venturi Wealth Management LLC raised its position in Arch Capital Group by 0.9% during the first quarter. Venturi Wealth Management LLC now owns 13,228 shares of the insurance provider's stock worth $1,272,000 after acquiring an additional 115 shares during the period. Hemington Wealth Management raised its position in Arch Capital Group by 27.7% during the first quarter. Hemington Wealth Management now owns 548 shares of the insurance provider's stock worth $52,000 after acquiring an additional 119 shares during the period. Finally, Horizon Advisory Services Inc. raised its position in Arch Capital Group by 4.2% during the first quarter. Horizon Advisory Services Inc. now owns 2,996 shares of the insurance provider's stock worth $288,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Cowen reiterated a "buy" rating on shares of Arch Capital Group in a research report on Monday, August 4th. Citigroup assumed coverage on shares of Arch Capital Group in a research report on Wednesday, August 13th. They issued a "buy" rating and a $113.00 target price for the company. Wells Fargo & Company reduced their target price on shares of Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Jefferies Financial Group cut shares of Arch Capital Group from a "buy" rating to a "hold" rating and reduced their target price for the company from $106.00 to $100.00 in a research report on Tuesday, June 10th. Finally, Cantor Fitzgerald upgraded shares of Arch Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $111.27.

Arch Capital Group Stock Down 1.0%

Shares of NASDAQ ACGL traded down $0.93 during midday trading on Friday, hitting $91.29. The company's stock had a trading volume of 1,402,519 shares, compared to its average volume of 1,761,956. The business's fifty day simple moving average is $89.70 and its two-hundred day simple moving average is $91.32. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47. The firm has a market capitalization of $34.07 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 5.59 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $4.29 billion. During the same quarter in the previous year, the firm earned $2.57 earnings per share. On average, equities analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insider Transactions at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the transaction, the insider owned 433,589 shares in the company, valued at $40,822,404.35. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.20% of the stock is owned by corporate insiders.

Arch Capital Group Company 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.