Mediolanum International Funds Ltd Raises Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• Mediolanum International Funds Ltd has increased its holdings in Arch Capital Group by 113.4%, acquiring 178,494 shares and totaling approximately $31.93 million in value.
• Arch Capital Group reported earnings of $1.54 per share, falling short of analyst expectations, with revenue of $4.52 billion for the quarter.
• Institutional investors own a significant 89.07% of Arch Capital Group's stock, indicating strong institutional interest in the company.

Mediolanum International Funds Ltd boosted its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 113.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 335,917 shares of the insurance provider's stock after purchasing an additional 178,494 shares during the period. Mediolanum International Funds Ltd owned approximately 0.09% of Arch Capital Group worth $31,932,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ACGL. Proficio Capital Partners LLC purchased a new position in shares of Arch Capital Group during the fourth quarter valued at about $92,000. American Century Companies Inc. increased its position in shares of Arch Capital Group by 15.6% during the fourth quarter. American Century Companies Inc. now owns 429,014 shares of the insurance provider's stock valued at $39,619,000 after buying an additional 57,784 shares during the period. LPL Financial LLC increased its position in shares of Arch Capital Group by 34.6% during the fourth quarter. LPL Financial LLC now owns 387,518 shares of the insurance provider's stock valued at $35,787,000 after buying an additional 99,656 shares during the period. TIAA Trust National Association increased its position in shares of Arch Capital Group by 14.1% during the fourth quarter. TIAA Trust National Association now owns 3,238 shares of the insurance provider's stock valued at $299,000 after buying an additional 400 shares during the period. Finally, Korea Investment CORP increased its position in shares of Arch Capital Group by 38.1% during the fourth quarter. Korea Investment CORP now owns 199,747 shares of the insurance provider's stock valued at $18,447,000 after buying an additional 55,100 shares during the period. 89.07% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Louis T. Petrillo sold 16,650 shares of Arch Capital Group stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.53, for a total value of $1,573,924.50. Following the sale, the insider directly owned 140,023 shares of the company's stock, valued at approximately $13,236,374.19. The trade was a 10.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Francois Morin sold 12,630 shares of the business's stock in a transaction dated 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 completion of the sale, the chief financial officer owned 274,681 shares in the company, valued at $25,979,328.98. This represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,976 shares of company stock valued at $10,531,038 over the last 90 days. Company insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ACGL shares. Barclays cut their price objective on shares of Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. UBS Group upped their price objective on shares of Arch Capital Group to $124.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Morgan Stanley set a $110.00 price objective on shares of Arch Capital Group and gave the stock an "overweight" rating in a report on Monday, May 19th. JPMorgan Chase & Co. upped their price objective on shares of Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Finally, Jefferies Financial Group cut shares of Arch Capital Group from a "buy" rating to a "hold" rating and cut their price objective for the stock from $106.00 to $100.00 in a report on Tuesday, June 10th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $113.60.

Arch Capital Group Stock Performance

ACGL traded up $0.89 during trading on Friday, hitting $88.89. The company's stock had a trading volume of 2,552,610 shares, compared to its average volume of 2,698,343. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47. The firm has a market cap of $33.31 billion, a PE ratio of 9.11, a P/E/G ratio of 6.18 and a beta of 0.51. The business's 50 day simple moving average is $91.01 and its 200-day simple moving average is $91.78.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.05). The firm had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.75 billion. Arch Capital Group had a net margin of 20.72% and a return on equity of 15.79%. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.45 earnings per share. As a group, sell-side analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal 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.