NewEdge Advisors LLC Purchases 10,535 Shares of 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 grew its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 67.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,168 shares of the insurance provider's stock after acquiring an additional 10,535 shares during the period. NewEdge Advisors LLC's holdings in Arch Capital Group were worth $2,517,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Arch Capital Group by 14.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,804 shares of the insurance provider's stock worth $4,924,000 after acquiring an additional 6,406 shares in the last quarter. DAVENPORT & Co LLC bought a new position in Arch Capital Group in the 1st quarter worth about $251,000. D.A. Davidson & CO. grew its stake in Arch Capital Group by 10.9% in the 1st quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider's stock worth $4,381,000 after acquiring an additional 4,460 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in Arch Capital Group by 24.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 37,625 shares of the insurance provider's stock worth $3,619,000 after acquiring an additional 7,448 shares in the last quarter. Finally, World Investment Advisors grew its stake in Arch Capital Group by 114.1% in the 1st quarter. World Investment Advisors now owns 6,321 shares of the insurance provider's stock worth $608,000 after acquiring an additional 3,369 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ACGL has been the topic of a number of research analyst reports. Cowen restated a "buy" rating on shares of Arch Capital Group in a research note on Monday, August 4th. UBS Group reaffirmed a "buy" rating and issued a $118.00 price target (down previously from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Morgan Stanley set a $110.00 price target on shares of Arch Capital Group and gave the stock an "overweight" rating in a research report on Monday, May 19th. Citigroup assumed coverage on shares of Arch Capital Group in a research report on Wednesday, August 13th. They issued a "buy" rating and a $113.00 price target for the company. Finally, Jefferies Financial Group cut shares of Arch Capital Group from a "buy" rating to a "hold" rating and lowered their price target for the stock from $106.00 to $100.00 in a research report on Tuesday, June 10th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Arch Capital Group currently has a consensus rating of "Moderate Buy" and an average target price of $111.27.

Insider Activity

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the transaction, the insider owned 433,589 shares of the company's stock, valued at approximately $40,822,404.35. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.20% of the company's stock.

Arch Capital Group Trading Up 1.1%

NASDAQ:ACGL opened at $90.60 on Thursday. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47. The firm has a 50 day moving average of $89.71 and a 200 day moving average of $91.34. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $33.81 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 5.49 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the prior year, the company posted $2.57 earnings per share. As a group, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share 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.

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