Mitsubishi UFJ Asset Management Co. Ltd. Acquires 57,297 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Arch Capital Group by 9.5% in Q1, owning 658,813 shares valued at approximately $63.4 million.
• Arch Capital Group reported $2.58 EPS for the last quarter, exceeding estimates, with a net margin of 19.49% and revenue of $4.35 billion.
• The stock has a current consensus rating of "Moderate Buy" among analysts, with a price target averaging around $113.07.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 9.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 658,813 shares of the insurance provider's stock after acquiring an additional 57,297 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Arch Capital Group worth $63,365,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ACGL. First Trust Advisors LP increased its position in shares of Arch Capital Group by 663.3% in the 4th quarter. First Trust Advisors LP now owns 2,462,382 shares of the insurance provider's stock valued at $227,401,000 after buying an additional 2,139,782 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Arch Capital Group in the 4th quarter valued at $151,342,000. GAMMA Investing LLC increased its position in shares of Arch Capital Group by 10,817.9% in the 1st quarter. GAMMA Investing LLC now owns 806,181 shares of the insurance provider's stock valued at $775,380,000 after buying an additional 798,797 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Arch Capital Group by 17.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,576,223 shares of the insurance provider's stock valued at $330,264,000 after buying an additional 522,484 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Arch Capital Group by 31.1% in the 4th quarter. Deutsche Bank AG now owns 2,098,619 shares of the insurance provider's stock valued at $193,807,000 after buying an additional 498,426 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 12,630 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $94.58, for a total value of $1,194,545.40. Following the transaction, the chief financial officer directly owned 274,681 shares of the company's stock, valued at $25,979,328.98. This represents a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Cowen reaffirmed a "buy" rating on shares of Arch Capital Group in a research note on Monday, August 4th. Wells Fargo & Company reduced their target price on shares of Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. UBS Group reaffirmed 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. Morgan Stanley set a $110.00 target price on shares of Arch Capital Group and gave the stock an "overweight" rating in a research note on Monday, May 19th. Finally, JMP Securities reaffirmed 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. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $113.07.

Arch Capital Group Stock Performance

Arch Capital Group stock traded down $2.10 during trading hours on Tuesday, hitting $87.78. The company had a trading volume of 2,280,099 shares, compared to its average volume of 1,932,359. The firm has a market cap of $32.76 billion, a PE ratio of 9.06, a PEG ratio of 5.47 and a beta of 0.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47. The firm has a 50-day moving average of $89.72 and a 200 day moving average of $91.36.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.28. The firm had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.29 billion. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. During the same period in the prior year, the firm earned $2.57 EPS. On average, sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current 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.