GQG Partners LLC Takes $71.77 Million Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• GQG Partners LLC has acquired a new stake in Arch Capital Group Ltd., investing approximately $71.77 million for 746,196 shares, representing about 0.20% of the company.
• Arch Capital Group reported earnings of $2.58 per share, exceeding analysts' expectations of $2.30, and generated $4.35 billion in revenue for the quarter.
• Analysts have mixed ratings on ACGL, with a consensus rating of "Moderate Buy" and an average price target of $113.07.

GQG Partners LLC bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 746,196 shares of the insurance provider's stock, valued at approximately $71,769,000. GQG Partners LLC owned 0.20% of Arch Capital Group as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 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 worth $4,924,000 after buying an additional 6,406 shares during the last quarter. DAVENPORT & Co LLC purchased a new stake in shares of Arch Capital Group in the 1st quarter worth approximately $251,000. D.A. Davidson & CO. grew its stake in shares of Arch Capital Group by 10.9% in the 1st quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider's stock worth $4,381,000 after buying an additional 4,460 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of 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 buying an additional 7,448 shares during the last quarter. Finally, World Investment Advisors grew its stake in shares of 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 buying an additional 3,369 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 price objective on shares of Arch Capital Group in a research report on Wednesday, April 30th. Cantor Fitzgerald raised Arch Capital Group to a "hold" rating in a research report on Wednesday. Keefe, Bruyette & Woods upped their price objective on Arch Capital Group from $102.00 to $103.00 and gave the company a "market perform" rating in a research report on Thursday. Morgan Stanley set a $110.00 price objective on Arch Capital Group and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company lowered their price objective on Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $112.13.

Arch Capital Group Price Performance

ACGL stock traded down $0.74 during trading on Friday, reaching $90.72. The company's stock had a trading volume of 3,051,822 shares, compared to its average volume of 2,644,230. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47. 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 company has a market capitalization of $33.86 billion, a P/E ratio of 9.36, a price-to-earnings-growth ratio of 5.56 and a beta of 0.49. The company's fifty day moving average is $89.30 and its 200-day moving average is $91.24.

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 return on equity of 15.33% and a net margin of 19.49%. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the business posted $2.57 EPS. On average, research analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

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.