3,180 Shares in Arch Capital Group Ltd. $ACGL Acquired by eCIO Inc.

Key Points

• eCIO Inc. acquired 3,180 shares of Arch Capital Group Ltd. valued at approximately $306,000 in the first quarter.
• Multiple institutional investors increased their stakes in Arch Capital Group, with ownership now at 89.07% of the company's stock.
• Arch Capital Group reported quarterly earnings of $2.58 EPS, surpassing analysts' expectations and a revenue of $4.35 billion for the period.

eCIO Inc. bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,180 shares of the insurance provider's stock, valued at approximately $306,000.

A number of other large investors have also made changes to their positions in ACGL. Mirae Asset Global Investments Co. Ltd. raised its stake in Arch Capital Group by 14.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,804 shares of the insurance provider's stock valued at $4,924,000 after purchasing an additional 6,406 shares during the last quarter. DAVENPORT & Co LLC purchased a new stake in shares of Arch Capital Group during the 1st quarter worth about $251,000. D.A. Davidson & CO. grew its holdings in shares of Arch Capital Group by 10.9% during the 1st quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider's stock worth $4,381,000 after purchasing an additional 4,460 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in Arch Capital Group by 24.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 37,625 shares of the insurance provider's stock worth $3,619,000 after acquiring an additional 7,448 shares during the period. Finally, World Investment Advisors boosted its holdings in Arch Capital Group by 114.1% in the 1st quarter. World Investment Advisors now owns 6,321 shares of the insurance provider's stock worth $608,000 after acquiring an additional 3,369 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Arch Capital Group Stock Performance

NASDAQ ACGL traded up $0.05 during trading on Wednesday, hitting $87.43. The company's stock had a trading volume of 933,530 shares, compared to its average volume of 1,919,978. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average price of $89.79 and a 200 day moving average price of $91.33. The firm has a market cap of $32.63 billion, a P/E ratio of 9.03, a price-to-earnings-growth ratio of 5.50 and a beta of 0.51. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate 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 period in the previous year, the business posted $2.57 EPS. Equities research analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insider Activity

In other 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 transaction of $941,500.00. Following the sale, the insider directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ACGL shares. Citigroup initiated coverage on Arch Capital Group in a research report on Wednesday, August 13th. They set a "buy" rating and a $113.00 price target on the stock. Wolfe Research assumed coverage on Arch Capital Group in a report on Monday. They set a "peer perform" rating on the stock. UBS Group reaffirmed a "buy" rating and set 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 cut Arch Capital Group from a "buy" rating to a "hold" rating and dropped their price target for the stock from $106.00 to $100.00 in a research note on Tuesday, June 10th. Finally, Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.27.

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.