Arch Capital Group Ltd. $ACGL Shares Acquired by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH increased its stake in Arch Capital Group Ltd. by 4.6%, acquiring an additional 35,814 shares, bringing its total holdings to 816,536 shares.
• Institutional investors own approximately 89.07% of Arch Capital Group, with multiple hedge funds increasing their positions during the first quarter of the year.
• Arch Capital Group reported a Q2 EPS of $2.58, surpassing analyst expectations, along with a net margin of 19.49% and an annual revenue of $4.35 billion.

Erste Asset Management GmbH lifted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 4.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 816,536 shares of the insurance provider's stock after buying an additional 35,814 shares during the period. Arch Capital Group accounts for approximately 1.0% of Erste Asset Management GmbH's portfolio, making the stock its 21st largest holding. Erste Asset Management GmbH owned approximately 0.22% of Arch Capital Group worth $78,340,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ACGL. Nuveen LLC purchased a new position in shares of Arch Capital Group during the first quarter valued at approximately $399,651,000. JPMorgan Chase & Co. increased its position in Arch Capital Group by 30.5% during the first quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock worth $718,522,000 after purchasing an additional 1,743,945 shares during the last quarter. GAMMA Investing LLC increased its position in Arch Capital Group by 10,817.9% during the first quarter. GAMMA Investing LLC now owns 806,181 shares of the insurance provider's stock worth $775,380,000 after purchasing an additional 798,797 shares during the last quarter. GQG Partners LLC acquired a new position in Arch Capital Group during the first quarter worth approximately $71,769,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Arch Capital Group by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,576,223 shares of the insurance provider's stock worth $330,264,000 after purchasing an additional 522,484 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Arch Capital Group Trading Down 0.1%

ACGL traded down $0.13 during trading on Friday, hitting $93.41. 1,820,208 shares of the company's stock were exchanged, compared to its average volume of 2,271,198. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47. The stock has a 50 day moving average price of $89.45 and a 200 day moving average price of $91.21. The firm has a market cap of $34.86 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 5.72 and a beta of 0.49.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the firm earned $2.57 earnings per share. As a group, 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 subject of several research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a research report on Thursday, August 14th. Citigroup initiated coverage on shares of Arch Capital Group in a research report on Wednesday, August 13th. They set a "buy" rating and a $113.00 price target for the company. Wells Fargo & Company dropped their price target 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. Morgan Stanley set a $110.00 price target on shares of Arch Capital Group and gave the stock an "overweight" rating in a research report on Monday, May 19th. Finally, Jefferies Financial Group cut shares of Arch Capital Group from a "buy" rating to a "hold" rating and reduced their price target for the company from $106.00 to $100.00 in a research report on Tuesday, June 10th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $111.27.

About Arch Capital Group

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.