Steamboat Capital Partners LLC Boosts Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Steamboat Capital Partners LLC lifted its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 31.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,502 shares of the insurance provider's stock after acquiring an additional 9,195 shares during the period. Arch Capital Group makes up approximately 1.1% of Steamboat Capital Partners LLC's portfolio, making the stock its 25th biggest position. Steamboat Capital Partners LLC's holdings in Arch Capital Group were worth $3,556,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Arch Capital Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 41,999,603 shares of the insurance provider's stock valued at $3,878,663,000 after purchasing an additional 182,150 shares during the period. Geode Capital Management LLC grew its stake in Arch Capital Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 11,010,756 shares of the insurance provider's stock valued at $1,014,648,000 after acquiring an additional 180,493 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Arch Capital Group by 10.5% during the fourth quarter. Principal Financial Group Inc. now owns 8,222,244 shares of the insurance provider's stock valued at $759,324,000 after acquiring an additional 783,506 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Arch Capital Group by 4.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,350,868 shares of the insurance provider's stock worth $488,992,000 after purchasing an additional 226,617 shares during the period. Finally, Nuveen Asset Management LLC raised its position in shares of Arch Capital Group by 1.9% during the fourth quarter. Nuveen Asset Management LLC now owns 4,888,997 shares of the insurance provider's stock worth $451,499,000 after purchasing an additional 93,226 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 12,630 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the completion of the transaction, the chief financial officer now owns 274,681 shares in the company, valued at $25,979,328.98. This trade represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John M. Pasquesi sold 75,060 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $94.01, for a total transaction of $7,056,390.60. Following the completion of the sale, the insider now directly owns 579,218 shares in the company, valued at approximately $54,452,284.18. This trade represents a 11.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 123,576 shares of company stock valued at $11,586,638 over the last ninety days. 4.20% of the stock is currently owned by insiders.

Arch Capital Group Stock Performance

Shares of NASDAQ:ACGL traded down $0.97 during midday trading on Tuesday, reaching $94.19. The company had a trading volume of 1,460,593 shares, compared to its average volume of 1,731,945. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $116.47. The company's 50 day moving average price is $92.66 and its 200 day moving average price is $93.46. The company has a current ratio of 0.54, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15. The stock has a market cap of $35.30 billion, a P/E ratio of 8.41, a P/E/G ratio of 2.31 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.05). Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. The company had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.75 billion. During the same quarter in the previous year, the business earned $2.45 EPS. The company's revenue for the quarter was up 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on ACGL shares. UBS Group decreased their price target on shares of Arch Capital Group from $127.00 to $124.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods boosted their target price on shares of Arch Capital Group from $104.00 to $113.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Wells Fargo & Company upped their target price on shares of Arch Capital Group from $106.00 to $108.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their price target on Arch Capital Group from $106.00 to $107.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Finally, Barclays decreased their price objective on Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $115.00.

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.