NewEdge Advisors LLC Has $2.52 Million Stake in Arch Capital Group Ltd. $ACGL

Key Points

• NewEdge Advisors LLC increased its stake in Arch Capital Group Ltd. by 67.4%, acquiring an additional 10,535 shares for a total of $2,517,000 in holdings.
• Institutional investors own 89.07% of Arch Capital Group's stock, with several other hedge funds notably increasing their stakes in the first quarter of the year.
• Analysts maintain a generally positive outlook on Arch Capital Group, with a consensus rating of "Moderate Buy" and an average target price of $111.27 per share.

NewEdge Advisors LLC raised its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 67.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,168 shares of the insurance provider's stock after purchasing an additional 10,535 shares during the quarter. NewEdge Advisors LLC's holdings in Arch Capital Group were worth $2,517,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ACGL. Capital A Wealth Management LLC acquired a new stake in Arch Capital Group during the 4th quarter valued at $25,000. Bartlett & CO. Wealth Management LLC acquired a new stake in Arch Capital Group during the 1st quarter valued at $27,000. Meeder Asset Management Inc. raised its stake in Arch Capital Group by 116.3% during the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock valued at $27,000 after purchasing an additional 150 shares during the period. Wayfinding Financial LLC acquired a new stake in Arch Capital Group during the 1st quarter valued at $31,000. Finally, Zions Bancorporation National Association UT acquired a new stake in Arch Capital Group during the 1st quarter valued at $37,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on ACGL shares. Keefe, Bruyette & Woods boosted their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a "market perform" rating in a research note on Thursday, August 14th. Cantor Fitzgerald upgraded shares of Arch Capital Group to a "hold" rating in a report on Wednesday, August 13th. UBS Group restated a "buy" rating and set a $118.00 price target (down from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Jefferies Financial Group cut shares of Arch Capital Group from a "buy" rating to a "hold" rating and lowered their price target for the company from $106.00 to $100.00 in a report on Tuesday, June 10th. Finally, Cowen restated a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Arch Capital Group has a consensus rating of "Moderate Buy" and a consensus target price of $111.27.

Arch Capital Group Stock Down 2.8%

Shares of ACGL stock traded down $2.48 on Tuesday, hitting $87.38. The company's stock had a trading volume of 2,710,454 shares, compared to its average volume of 1,659,970. 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 fifty-two week low of $82.49 and a fifty-two week high of $116.47. The firm's fifty day moving average price is $89.79 and its 200-day moving average price is $91.33. The stock has a market capitalization of $32.61 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 5.50 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the business earned $2.57 EPS. Research analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insider Activity

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the transaction, the insider owned 433,589 shares of the company's stock, valued at $40,822,404.35. The trade was a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.10% of the company's stock.

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.