Federation des caisses Desjardins du Quebec Increases Stake in Arch Capital Group Ltd. $ACGL

Key Points

• The Federation des caisses Desjardins du Quebec significantly increased its stake in Arch Capital Group by 818.9%, acquiring 132,019 shares during the first quarter, bringing its total to 148,140 shares valued at approximately $14.25 million.
• Institutional investors currently own 89.07% of Arch Capital Group's stock, with several hedge funds also revealing new positions in the company.
• Arch Capital Group reported earnings of $2.58 per share for the last quarter, exceeding analyst expectations and showcasing a net margin of 19.49% and return on equity of 15.33%.

Federation des caisses Desjardins du Quebec raised its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 818.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 148,140 shares of the insurance provider's stock after purchasing an additional 132,019 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Arch Capital Group were worth $14,249,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Arch Capital Group by 30.5% during 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 during the period. Northern Trust Corp increased its position in Arch Capital Group by 3.0% during the 1st quarter. Northern Trust Corp now owns 5,005,790 shares of the insurance provider's stock valued at $481,457,000 after purchasing an additional 144,986 shares during the period. Nuveen Asset Management LLC increased its position in Arch Capital Group by 1.9% during the 4th quarter. Nuveen Asset Management LLC now owns 4,888,997 shares of the insurance provider's stock valued at $451,499,000 after purchasing an additional 93,226 shares during the period. Madison Asset Management LLC increased its position in Arch Capital Group by 9.0% during the 1st quarter. Madison Asset Management LLC now owns 4,837,602 shares of the insurance provider's stock valued at $465,281,000 after purchasing an additional 397,857 shares during the period. Finally, Egerton Capital UK LLP increased its position in Arch Capital Group by 8.5% during the 1st quarter. Egerton Capital UK LLP now owns 4,325,217 shares of the insurance provider's stock valued at $415,999,000 after purchasing an additional 337,245 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Insiders Place Their Bets

In related news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares of the company's stock, valued at approximately $40,822,404.35. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ACGL shares. Morgan Stanley set a $110.00 price target on Arch Capital Group and gave the stock an "overweight" rating in a report on Monday, May 19th. Citigroup started coverage on Arch Capital Group in a report on Wednesday, August 13th. They set a "buy" rating and a $113.00 price target on the stock. Keefe, Bruyette & Woods increased their price target on Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a report on Thursday, August 14th. UBS Group restated a "buy" rating and set a $118.00 price target (down from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Finally, Jefferies Financial Group cut Arch Capital Group from a "buy" rating to a "hold" rating and cut their price target for the stock from $106.00 to $100.00 in a 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 MarketBeat, Arch Capital Group has an average rating of "Moderate Buy" and a consensus target price of $111.27.

Arch Capital Group Stock Down 1.0%

NASDAQ:ACGL traded down $0.93 during trading hours on Friday, hitting $91.29. 1,402,519 shares of the company traded hands, compared to its average volume of 1,761,956. 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's 50-day simple moving average is $89.70 and its 200-day simple moving average is $91.32. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47. The company has a market cap of $34.07 billion, a PE ratio of 9.42, a PEG ratio of 5.59 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued 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. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.The business had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same period last year, the business earned $2.57 EPS. Equities analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

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.