Norges Bank Buys Shares of 4,829,107 Arch Capital Group Ltd. $ACGL

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Arch Capital Group, buying 4,829,107 shares valued at about $463.2 million, or roughly 1.33% of the company.
• Arch Capital Group’s shares were down 0.7% to $88.74, near the lower end of its 52-week range, while the company continues to show a low-debt balance sheet and a market cap of about $31 billion.
• The insurer reported strong recent results, including $2.50 in quarterly EPS on $4.52 billion in revenue, and analysts currently have a mixed stance with an overall Hold consensus and a target price of $106.32.

Norges Bank bought a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,829,107 shares of the insurance provider's stock, valued at approximately $463,208,000. Norges Bank owned approximately 1.33% of Arch Capital Group as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of ACGL. Elyxium Wealth LLC bought a new stake in Arch Capital Group in the 4th quarter valued at approximately $27,000. WealthCollab LLC raised its stake in shares of Arch Capital Group by 410.3% during the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider's stock worth $27,000 after purchasing an additional 238 shares in the last quarter. JPL Wealth Management LLC bought a new stake in shares of Arch Capital Group during the 3rd quarter worth approximately $28,000. Grove Bank & Trust bought a new stake in shares of Arch Capital Group during the 4th quarter worth approximately $30,000. Finally, Aventura Private Wealth LLC bought a new stake in shares of Arch Capital Group during the 4th quarter worth approximately $30,000. Institutional investors own 89.07% of the company's stock.

Arch Capital Group Stock Down 0.7%

ACGL opened at $88.74 on Tuesday. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $103.39. The stock's fifty day simple moving average is $95.22 and its 200 day simple moving average is $95.16. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15. The stock has a market cap of $31.00 billion, a PE ratio of 6.82, a price-to-earnings-growth ratio of 4.91 and a beta of 0.32.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share 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 for the quarter. As a group, research analysts expect that Arch Capital Group Ltd. will post 9.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Citigroup upped their price objective on Arch Capital Group from $120.00 to $122.50 and gave the stock a "buy" rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. dropped their price objective on Arch Capital Group from $117.00 to $110.00 and set a "neutral" rating on the stock in a research note on Monday, April 20th. Royal Bank Of Canada upped their price objective on Arch Capital Group from $108.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 11th. UBS Group reiterated a "buy" rating and set a $114.00 price objective (up from $113.00) on shares of Arch Capital Group in a research note on Tuesday, February 17th. Finally, Morgan Stanley set a $105.00 price objective on Arch Capital Group in a research note on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Arch Capital Group has an average rating of "Hold" and a consensus target price of $106.32.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, insider David Gansberg sold 5,907 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $96.37, for a total transaction of $569,257.59. Following the transaction, the insider owned 336,559 shares in the company, valued at $32,434,190.83. This trade represents a 1.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel Joseph Houston acquired 5,300 shares of the stock in a transaction on Thursday, April 30th. The shares were purchased at an average price of $94.08 per share, for a total transaction 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 32,837 shares of company stock worth $2,766,946 over the last quarter. 3.30% of the stock is currently owned by corporate insiders.

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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