Oppenheimer Asset Management Inc. Raises Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Oppenheimer Asset Management Inc. grew its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 10.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 133,282 shares of the insurance provider's stock after purchasing an additional 12,202 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Arch Capital Group were worth $12,819,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ACGL. Norges Bank purchased a new stake in Arch Capital Group during the fourth quarter valued at approximately $437,291,000. Madison Investment Advisors LLC purchased a new stake in shares of Arch Capital Group during the fourth quarter valued at $410,010,000. First Trust Advisors LP increased its stake in shares of Arch Capital Group by 663.3% in the fourth quarter. First Trust Advisors LP now owns 2,462,382 shares of the insurance provider's stock worth $227,401,000 after acquiring an additional 2,139,782 shares during the period. Marshall Wace LLP purchased a new stake in shares of Arch Capital Group in the fourth quarter worth about $151,342,000. Finally, Egerton Capital UK LLP lifted its stake in shares of Arch Capital Group by 25.8% in the 4th quarter. Egerton Capital UK LLP now owns 3,987,972 shares of the insurance provider's stock valued at $368,289,000 after purchasing an additional 816,750 shares during the period. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ACGL. Keefe, Bruyette & Woods boosted their price target on shares of Arch Capital Group from $104.00 to $113.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Morgan Stanley set a $110.00 target price on Arch Capital Group and gave the stock an "overweight" rating in a research report on Monday, May 19th. UBS Group lifted their price objective on shares of Arch Capital Group to $124.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Jefferies Financial Group downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating and reduced their price target for the company from $106.00 to $100.00 in a research report on Tuesday, June 10th. Finally, JMP Securities reissued a "market outperform" rating and issued a $125.00 price objective on shares of Arch Capital Group in a research report on Wednesday, April 30th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $114.63.

Insider Buying and Selling

In other news, CFO Francois Morin sold 12,630 shares of Arch Capital Group 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 transaction, the chief financial officer now owns 274,681 shares of the company's stock, valued at $25,979,328.98. The trade was a 4.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Louis T. Petrillo sold 16,650 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.53, for a total transaction of $1,573,924.50. Following the completion of the transaction, the insider now owns 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 disclosure for this sale can be found here. Insiders sold 111,976 shares of company stock valued at $10,531,038 over the last quarter. 4.20% of the stock is owned by company insiders.

Arch Capital Group Price Performance

NASDAQ:ACGL traded down $0.14 during trading hours on Tuesday, hitting $90.97. The stock had a trading volume of 1,431,580 shares, compared to its average volume of 1,732,605. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. The company has a 50 day simple moving average of $92.57 and a two-hundred day simple moving average of $92.28. The firm has a market capitalization of $34.09 billion, a price-to-earnings ratio of 9.32, a P/E/G ratio of 6.23 and a beta of 0.53. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released 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). Arch Capital Group had a return on equity of 15.79% and a net margin of 20.72%. The company had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.75 billion. During the same quarter in the prior year, the firm posted $2.45 EPS. The firm's quarterly revenue was up 10.5% on a year-over-year basis. Research analysts forecast 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.