Price T Rowe Associates Inc. MD Has $72.16 Million Holdings in Arch Capital Group Ltd. $ACGL

Key Points

• Price T Rowe Associates Inc. MD increased its holdings in Arch Capital Group Ltd. by 16.9% during the first quarter, owning approximately 0.20% of the company with a value of $72.15 million.
• JPMorgan Chase & Co. also significantly increased its stake by 30.5%, now holding over 7.47 million shares worth around $718.5 million.
• Arch Capital Group reported earnings per share of $2.58, exceeding analysts' estimates, and projecting an average 8.42 EPS for the current year.

Price T Rowe Associates Inc. MD boosted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 16.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 750,193 shares of the insurance provider's stock after purchasing an additional 108,220 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.20% of Arch Capital Group worth $72,155,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital Fund Management S.A. acquired a new position in Arch Capital Group in the first quarter valued at about $9,169,000. Erste Asset Management GmbH raised its stake in Arch Capital Group by 4.6% in the first quarter. Erste Asset Management GmbH now owns 816,536 shares of the insurance provider's stock valued at $78,340,000 after purchasing an additional 35,814 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Arch Capital Group in the first quarter valued at about $242,000. Credit Agricole S A raised its stake in Arch Capital Group by 2.3% in the first quarter. Credit Agricole S A now owns 116,248 shares of the insurance provider's stock valued at $11,181,000 after purchasing an additional 2,646 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Arch Capital Group by 3.0% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,931 shares of the insurance provider's stock valued at $859,000 after purchasing an additional 263 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Buying and Selling

In related news, insider Maamoun Rajeh sold 10,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the sale, the insider directly owned 433,589 shares in the company, valued at $40,822,404.35. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.20% of the stock is owned by insiders.

Arch Capital Group Trading Up 0.4%

ACGL stock traded up $0.33 during trading on Friday, hitting $91.53. The company had a trading volume of 1,562,940 shares, compared to its average volume of 1,922,613. The business has a 50-day moving average of $89.53 and a 200-day moving average of $91.18. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47. The stock has a market cap of $34.16 billion, a PE ratio of 9.45, a PEG ratio of 5.62 and a beta of 0.49. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.30 by $0.28. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.The business had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same period in the prior year, the business posted $2.57 earnings per share. Research analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on ACGL shares. Cowen reissued a "buy" rating on shares of Arch Capital Group in a research note on Monday, August 4th. Citigroup started coverage on 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. Morgan Stanley set a $110.00 target price on Arch Capital Group and gave the stock an "overweight" rating in a research note on Monday, May 19th. Jefferies Financial Group downgraded Arch Capital Group from a "buy" rating to a "hold" rating and lowered their target price for the stock from $106.00 to $100.00 in a research note on Tuesday, June 10th. Finally, Cantor Fitzgerald raised Arch Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $111.27.

Arch Capital Group Company 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.