Royal Bank of Canada Purchases 67,811 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• The Royal Bank of Canada increased its stake in Arch Capital Group Ltd. by 2.0%, owning approximately 3.5 million shares valued at $337.6 million as of its latest SEC filing.
• Arch Capital Group exceeded analyst expectations for quarterly earnings, reporting an EPS of $2.58, surpassing estimates by $0.28.
• A number of hedge funds have been actively trading Arch Capital Group shares, with institutional investors now holding 89.07% of the company's stock.

Royal Bank of Canada raised its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 2.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,510,376 shares of the insurance provider's stock after buying an additional 67,811 shares during the period. Royal Bank of Canada owned about 0.94% of Arch Capital Group worth $337,628,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ACGL. Nuveen LLC purchased a new stake in Arch Capital Group during the first quarter valued at approximately $399,651,000. JPMorgan Chase & Co. increased its holdings in Arch Capital Group by 30.5% during the first quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock valued at $718,522,000 after buying an additional 1,743,945 shares during the last quarter. GAMMA Investing LLC increased its holdings in Arch Capital Group by 10,817.9% during the first quarter. GAMMA Investing LLC now owns 806,181 shares of the insurance provider's stock valued at $775,380,000 after buying an additional 798,797 shares during the last quarter. GQG Partners LLC purchased a new stake in Arch Capital Group during the first quarter valued at approximately $71,769,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Arch Capital Group by 17.1% during 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 valued at $330,264,000 after buying an additional 522,484 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 value of $941,500.00. Following the sale, the insider owned 433,589 shares in the company, valued at approximately $40,822,404.35. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.20% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on ACGL. Keefe, Bruyette & Woods raised their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a research note on Thursday, August 14th. Wells Fargo & Company decreased their target price on shares of Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Cowen restated a "buy" rating on shares of Arch Capital Group in a research note on Monday, August 4th. Cantor Fitzgerald upgraded shares of Arch Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley set a $110.00 target price on shares of Arch Capital Group and gave the stock an "overweight" rating in a research note on Monday, May 19th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $111.27.

Arch Capital Group Price Performance

ACGL traded down $0.68 during trading on Thursday, reaching $92.22. 1,481,104 shares of the company traded hands, compared to its average volume of 1,923,074. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. Arch Capital Group Ltd. has a 12-month low of $82.49 and a 12-month high of $116.47. The firm has a fifty day simple moving average of $89.64 and a 200 day simple moving average of $91.25. The company has a market cap of $34.42 billion, a P/E ratio of 9.52, a PEG ratio of 5.60 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced 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 business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the firm posted $2.57 EPS. On average, equities analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current 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.