PEAK6 LLC Purchases 4,018 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• PEAK6 LLC increased its stake in Arch Capital Group Ltd. by 75.8% in the first quarter, now holding 9,318 shares valued at approximately $896,000.
• Arch Capital Group reported $2.58 EPS for the quarter, exceeding analysts' expectations, with revenue hitting $4.35 billion.
• The company has a market cap of $34.16 billion and a consensus rating of "Moderate Buy" from analysts, with a target price of $111.27.

PEAK6 LLC lifted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 75.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,318 shares of the insurance provider's stock after purchasing an additional 4,018 shares during the quarter. PEAK6 LLC's holdings in Arch Capital Group were worth $896,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ACGL. Harbour Investments Inc. raised its holdings in Arch Capital Group by 8.4% in the 1st quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider's stock worth $138,000 after acquiring an additional 111 shares during the last quarter. Resonant Capital Advisors LLC raised its holdings in Arch Capital Group by 1.7% in the 1st quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider's stock worth $642,000 after acquiring an additional 113 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Arch Capital Group by 0.9% in the 1st quarter. Venturi Wealth Management LLC now owns 13,228 shares of the insurance provider's stock worth $1,272,000 after acquiring an additional 115 shares during the last quarter. Hemington Wealth Management raised its holdings in Arch Capital Group by 27.7% in the 1st quarter. Hemington Wealth Management now owns 548 shares of the insurance provider's stock worth $52,000 after acquiring an additional 119 shares during the last quarter. Finally, Horizon Advisory Services Inc. raised its holdings in Arch Capital Group by 4.2% in the 1st quarter. Horizon Advisory Services Inc. now owns 2,996 shares of the insurance provider's stock worth $288,000 after acquiring an additional 120 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Activity

In other 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 4.10% of the stock is currently owned by insiders.

Arch Capital Group Stock Performance

Shares of ACGL stock traded up $1.58 during mid-day trading on Wednesday, reaching $92.90. 2,049,809 shares of the company's stock traded hands, compared to its average volume of 1,924,612. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47. The firm has a 50 day moving average price of $89.57 and a two-hundred day moving average price of $91.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $34.67 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 5.60 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (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 firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the firm posted $2.57 EPS. On average, research analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ACGL shares. UBS Group restated a "buy" rating and issued a $118.00 price objective (down from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Morgan Stanley set a $110.00 price objective on shares of Arch Capital Group and gave the stock an "overweight" rating in a report on Monday, May 19th. Cowen restated a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Citigroup started coverage on shares of Arch Capital Group in a research note on Wednesday, August 13th. They set a "buy" rating and a $113.00 target price for the company. Finally, Cantor Fitzgerald upgraded shares of Arch Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $111.27.

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.