SEB Asset Management AB Makes New $16.80 Million Investment in Arch Capital Group Ltd. $ACGL

Key Points

• SEB Asset Management AB opened a new position in Arch Capital Group during the first quarter, buying 174,981 shares worth about $16.8 million.
• Arch Capital Group shares were trading around $101.83, near their 52-week high of $105.09, with the stock up 0.5% in the session and backed by strong institutional ownership of 89.07%.
• Wall Street sentiment is mixed: analysts have an average Hold rating with a consensus price target of $109.82, while the company recently reported $2.50 EPS and revenue of $4.52 billion for the quarter.

SEB Asset Management AB bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 174,981 shares of the insurance provider's stock, valued at approximately $16,796,000.

Several other hedge funds have also modified their holdings of ACGL. Elyxium Wealth LLC acquired a new position in Arch Capital Group during the fourth quarter worth $27,000. WealthCollab LLC boosted its position in shares of Arch Capital Group by 410.3% during the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider's stock worth $27,000 after purchasing an additional 238 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Arch Capital Group during the 3rd quarter worth $28,000. Aventura Private Wealth LLC acquired a new position in shares of Arch Capital Group during the 4th quarter worth $30,000. Finally, Grove Bank & Trust acquired a new position in shares of Arch Capital Group during the 4th quarter worth $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Stock Up 0.5%

Shares of NASDAQ:ACGL opened at $101.83 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.15. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $105.09. The stock's fifty day simple moving average is $95.25 and its 200-day simple moving average is $95.66. The company has a market capitalization of $35.58 billion, a P/E ratio of 7.82, a P/E/G ratio of 5.04 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The business had revenue of $4.52 billion for the quarter. As a group, equities research analysts forecast that Arch Capital Group Ltd. will post 9.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ACGL. Weiss Ratings downgraded shares of Arch Capital Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, May 18th. Keefe, Bruyette & Woods decreased their price objective on shares of Arch Capital Group from $102.00 to $99.00 and set a "market perform" rating on the stock in a report on Wednesday, July 8th. Atlantic Securities set a $126.00 target price on shares of Arch Capital Group in a research report on Wednesday, July 15th. Citigroup increased their target price on shares of Arch Capital Group from $120.00 to $122.50 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $102.00 price target (up from $100.00) on shares of Arch Capital Group in a research report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $109.82.

Insider Activity

In other news, Director Brian S. Posner sold 3,000 shares of Arch Capital Group stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Joseph Houston acquired 5,300 shares of the business's stock in a transaction dated Thursday, April 30th. The stock was purchased at an average cost of $94.08 per share, with a total value of $498,624.00. Following the transaction, the director owned 9,915 shares of the company's stock, valued at approximately $932,803.20. The trade was a 114.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.30% of the stock is owned by company insiders.

Arch Capital Group Profile

Arch Capital Group Ltd. NASDAQ: ACGL is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.

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