Lord Abbett & CO. LLC Boosts Stock Position in Arch Capital Group Ltd. $ACGL

Key Points

• Lord Abbett & Co. LLC increased its stake in Arch Capital Group by 6.9% in the fourth quarter, buying an additional 68,014 shares and bringing its total to 1,060,836 shares valued at about $101.8 million.
• Arch Capital Group’s stock traded modestly higher at $91.66, with the company sitting near the middle of its 52-week range of $82.44 to $103.39 and carrying a market cap of about $32.03 billion.
• Analysts are mixed but generally constructive on ACGL: the consensus rating is “Hold,” with an average price target of $106.81, while recent quarterly earnings showed EPS of $2.50 on revenue of $4.52 billion.

Lord Abbett & CO. LLC boosted its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 6.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,060,836 shares of the insurance provider's stock after purchasing an additional 68,014 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.29% of Arch Capital Group worth $101,755,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ACGL. Geneos Wealth Management Inc. increased its holdings in Arch Capital Group by 157.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider's stock worth $65,000 after purchasing an additional 412 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Arch Capital Group in the 2nd quarter valued at approximately $253,000. CW Advisors LLC increased its holdings in shares of Arch Capital Group by 6.5% in the 2nd quarter. CW Advisors LLC now owns 3,098 shares of the insurance provider's stock valued at $282,000 after acquiring an additional 189 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Arch Capital Group in the 2nd quarter valued at approximately $667,000. Finally, Cerity Partners LLC increased its holdings in shares of Arch Capital Group by 11.6% in the 2nd quarter. Cerity Partners LLC now owns 47,486 shares of the insurance provider's stock valued at $4,324,000 after acquiring an additional 4,933 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Trading Up 0.6%

NASDAQ:ACGL opened at $91.66 on Friday. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $103.39. The firm has a market capitalization of $32.03 billion, a P/E ratio of 7.04, a P/E/G ratio of 4.56 and a beta of 0.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55. The business has a 50 day simple moving average of $94.45 and a 200 day simple moving average of $95.01.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The business had revenue of $4.52 billion during the quarter. Equities research analysts predict that Arch Capital Group Ltd. will post 9.3 EPS for the current year.

Insider Buying and Selling

In related news, Director Brian S. Posner sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Joseph Houston acquired 5,300 shares of Arch Capital Group stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average price of $94.08 per share, with a total value of $498,624.00. Following the transaction, the director directly owned 9,915 shares in the company, valued at approximately $932,803.20. This trade represents a 114.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 3.30% of the company's stock.

Wall Street Analysts Forecast Growth

ACGL has been the subject of a number of research analyst reports. Citigroup boosted their price target on Arch Capital Group from $120.00 to $122.50 and gave the company a "buy" rating in a report on Thursday, April 30th. Morgan Stanley set a $105.00 price target on Arch Capital Group in a report on Friday, May 1st. UBS Group reiterated a "buy" rating and issued a $114.00 price target (up from $113.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. JPMorgan Chase & Co. lowered their price target on Arch Capital Group from $117.00 to $110.00 and set a "neutral" rating for the company in a report on Monday, April 20th. Finally, Mizuho lowered their price target on Arch Capital Group from $102.00 to $101.00 and set a "neutral" rating for the company in a report on Tuesday, May 5th. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $106.81.

Arch Capital Group 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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