Lazard Asset Management LLC Acquires 19,364 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Lazard Asset Management increased its Arch Capital Group stake by 213.6% in the first quarter, acquiring 19,364 additional shares and bringing its total holdings to 28,431 shares valued at approximately $2.73 million. Institutional investors collectively own 89.07% of ACGL.
• Analyst sentiment is mixed, with eight Buy, seven Hold, and one Sell rating. The stock has an average “Hold” rating and a consensus price target of $110.39.
• Arch Capital reported quarterly earnings of $2.56 per share, beating estimates of $2.47, while revenue reached $8.72 billion versus the $4.36 billion consensus estimate.

Lazard Asset Management LLC boosted its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 213.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,431 shares of the insurance provider's stock after acquiring an additional 19,364 shares during the quarter. Lazard Asset Management LLC's holdings in Arch Capital Group were worth $2,729,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Elyxium Wealth LLC purchased a new stake in shares of Arch Capital Group during the fourth quarter valued at $27,000. WealthCollab LLC grew its holdings in shares of Arch Capital Group by 410.3% in the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider's stock worth $27,000 after purchasing an additional 238 shares during the last quarter. JPL Wealth Management LLC purchased a new position in Arch Capital Group in the 3rd quarter worth about $28,000. TD Waterhouse Canada Inc. lifted its holdings in Arch Capital Group by 72.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider's stock valued at $31,000 after buying an additional 136 shares in the last quarter. Finally, Zions Bancorporation National Association UT lifted its holdings in Arch Capital Group by 390.9% during the 4th quarter. Zions Bancorporation National Association UT now owns 324 shares of the insurance provider's stock valued at $31,000 after buying an additional 258 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on ACGL. Cantor Fitzgerald reissued a "neutral" rating and issued a $102.00 price objective (up from $100.00) on shares of Arch Capital Group in a research report on Thursday, July 9th. JPMorgan Chase & Co. raised their target price on shares of Arch Capital Group from $110.00 to $116.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Keefe, Bruyette & Woods decreased their price target on shares of Arch Capital Group from $102.00 to $99.00 and set a "market perform" rating for the company in a research note on Wednesday, July 8th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $120.00 price target (up from $115.00) on shares of Arch Capital Group in a report on Thursday. Finally, Weiss Ratings cut Arch Capital Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 18th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $110.39.

Arch Capital Group Stock Down 0.6%

Shares of Arch Capital Group stock opened at $100.53 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.55. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $107.08. The firm's 50-day moving average is $96.51 and its two-hundred day moving average is $96.10. The stock has a market cap of $35.12 billion, a price-to-earnings ratio of 7.86, a PEG ratio of 10.64 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its earnings results on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.09. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter last year, the firm posted $2.58 EPS. As a group, research analysts expect that Arch Capital Group Ltd. will post 9.36 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Brian S. Posner sold 3,000 shares of Arch Capital Group stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.30% of the company's stock.

Arch Capital Group Company Profile

Arch Capital Group Ltd. NASDAQ: ACGL is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.

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