Element Capital Management LLC Takes $2.74 Million Position in Arch Capital Group Ltd. $ACGL

Key Points

• Element Capital Management LLC has acquired 28,441 shares of Arch Capital Group Ltd. (NASDAQ: ACGL), valued at approximately $2.735 million, marking a significant investment in the insurance provider.
• A number of other institutional investors have also recently engaged in share acquisitions, contributing to a cumulative institutional ownership of 89.07% for Arch Capital Group.
• Wall Street analysts maintain a positive outlook for Arch Capital Group, with an average rating of "Moderate Buy" and a price target of approximately $112.13.

Element Capital Management LLC acquired a new position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 28,441 shares of the insurance provider's stock, valued at approximately $2,735,000.

A number of other large investors also recently modified their holdings of ACGL. Nuveen LLC purchased a new position in shares of Arch Capital Group in the 1st quarter worth about $399,651,000. First Trust Advisors LP increased its holdings in Arch Capital Group by 663.3% in the 4th quarter. First Trust Advisors LP now owns 2,462,382 shares of the insurance provider's stock valued at $227,401,000 after purchasing an additional 2,139,782 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Arch Capital Group by 30.5% in the 1st quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock valued at $718,522,000 after purchasing an additional 1,743,945 shares in the last quarter. GAMMA Investing LLC increased its holdings in Arch Capital Group by 10,817.9% in the 1st quarter. GAMMA Investing LLC now owns 806,181 shares of the insurance provider's stock valued at $775,380,000 after purchasing an additional 798,797 shares in the last quarter. Finally, GQG Partners LLC acquired a new stake in Arch Capital Group in the 1st quarter valued at $71,769,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Stock Up 1.1%

Arch Capital Group stock traded up $1.00 during midday trading on Wednesday, hitting $92.84. The stock had a trading volume of 1,190,167 shares, compared to its average volume of 2,388,208. 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 stock has a market cap of $34.65 billion, a P/E ratio of 9.58, a P/E/G ratio of 5.62 and a beta of 0.49. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47. The business has a fifty day moving average price of $89.37 and a 200 day moving average price of $91.21.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.28. The firm 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 period in the previous year, the company earned $2.57 earnings per share. Research analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ACGL. UBS Group reiterated a "buy" rating and issued a $118.00 price target (down from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Morgan Stanley set a $110.00 price target on Arch Capital Group and gave the company an "overweight" rating in a report on Monday, May 19th. Keefe, Bruyette & Woods upped their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a "market perform" rating in a research note on Thursday, August 14th. Wells Fargo & Company decreased 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 note on Thursday, July 31st. Finally, Citigroup began coverage on shares of Arch Capital Group in a research note on Wednesday, August 13th. They issued a "buy" rating and a $113.00 target price for the company. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently 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.