JPMorgan Chase & Co. Acquires 1,743,945 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• JPMorgan Chase & Co. has increased its stake in Arch Capital Group Ltd. by 30.5%, acquiring 1,743,945 shares, which brings its total ownership to approximately 7.47 million shares valued at around $718 million.
• Insider trading activity includes CFO Francois Morin selling 12,630 shares for over $1.19 million, reducing his position by 4.4% while still retaining a substantial shareholding.
• Analysts have mixed opinions on Arch Capital Group's stock, as UBS Group and others have issued varying target prices with a general consensus rating of "Moderate Buy" amid fluctuating predictions.

JPMorgan Chase & Co. lifted its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 30.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,470,591 shares of the insurance provider's stock after acquiring an additional 1,743,945 shares during the period. JPMorgan Chase & Co. owned approximately 1.99% of Arch Capital Group worth $718,522,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position 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 acquiring an additional 6,406 shares in the last quarter. DAVENPORT & Co LLC bought a new position in shares of Arch Capital Group in the 1st quarter worth about $251,000. D.A. Davidson & CO. raised its position 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 acquiring an additional 4,460 shares in the last quarter. Crossmark Global Holdings Inc. raised its position 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 acquiring an additional 7,448 shares in the last quarter. Finally, World Investment Advisors raised its position 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 acquiring an additional 3,369 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 12,630 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $94.58, for a total value of $1,194,545.40. Following the transaction, the chief financial officer owned 274,681 shares in the company, valued at $25,979,328.98. The trade was a 4.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ACGL shares. UBS Group restated a "buy" rating and issued a $118.00 target price (down from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. JMP Securities restated a "market outperform" rating and issued a $125.00 target price on shares of Arch Capital Group in a research note on Wednesday, April 30th. Morgan Stanley set a $110.00 target price on Arch Capital Group and gave the company an "overweight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods raised their target price on Arch Capital Group from $101.00 to $102.00 and gave the company a "market perform" rating in a research note on Tuesday, August 5th. Finally, Jefferies Financial Group downgraded Arch Capital Group from a "buy" rating to a "hold" rating and reduced their target price for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.07.

Arch Capital Group Price Performance

ACGL stock opened at $88.83 on Monday. The company has a market capitalization of $33.15 billion, a P/E ratio of 9.17, a price-to-earnings-growth ratio of 5.47 and a beta of 0.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $116.47. The business has a 50-day simple moving average of $89.84 and a two-hundred day simple moving average of $91.38.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share 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 firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the business earned $2.57 EPS. Research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS 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.

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