Rafferty Asset Management LLC Has $11.82 Million Stake in Arch Capital Group Ltd. $ACGL

Key Points

• Rafferty Asset Management LLC decreased its stake in Arch Capital Group by 7.0%, selling 9,305 shares and holding 122,899 shares worth approximately $11.82 million.
• Multiple institutional investors, such as Apexium Financial LP and Maren Capital LLC, have modified their positions in Arch Capital Group, indicating growing interest in the stock.
• Arch Capital Group reported earnings of $2.58 per share for the last quarter, exceeding analysts' expectations, and has a current price target consensus of $111.27 from various analysts.

Rafferty Asset Management LLC lessened its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 7.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,899 shares of the insurance provider's stock after selling 9,305 shares during the quarter. Rafferty Asset Management LLC's holdings in Arch Capital Group were worth $11,820,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ACGL. Nuveen LLC acquired a new position in shares of Arch Capital Group in the first quarter valued at approximately $399,651,000. JPMorgan Chase & Co. lifted its position in shares of Arch Capital Group by 30.5% in the first quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock worth $718,522,000 after purchasing an additional 1,743,945 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Arch Capital Group by 10,817.9% in the first quarter. GAMMA Investing LLC now owns 806,181 shares of the insurance provider's stock worth $775,380,000 after purchasing an additional 798,797 shares in the last quarter. GQG Partners LLC bought a new stake in shares of Arch Capital Group in the first quarter worth $71,769,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Arch Capital Group by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,576,223 shares of the insurance provider's stock worth $330,264,000 after purchasing an additional 522,484 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Insiders Place Their Bets

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction dated 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 sale, the insider owned 433,589 shares in the company, valued at $40,822,404.35. The trade was a 2.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by company insiders.

Arch Capital Group Trading Down 0.2%

ACGL stock opened at $91.32 on Wednesday. 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 fifty day moving average price of $89.57 and a two-hundred day moving average price of $91.24. 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 $34.08 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 5.60 and a beta of 0.51.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ACGL. Cowen reissued a "buy" rating on shares of Arch Capital Group in a research report on Monday, August 4th. UBS Group reissued a "buy" rating and issued a $118.00 price objective (down previously from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Citigroup began 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 objective on the stock. Jefferies Financial Group lowered shares of Arch Capital Group from a "buy" rating to a "hold" rating and cut their price objective for the stock from $106.00 to $100.00 in a research report on Tuesday, June 10th. Finally, Morgan Stanley set a $110.00 price objective on shares of Arch Capital Group and gave the stock an "overweight" rating in a research report on Monday, May 19th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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.