Arch Capital Group Ltd. $ACGL Shares Purchased by Steamboat Capital Partners LLC

Key Points

• Steamboat Capital Partners LLC increased its stake in Arch Capital Group Ltd. by 27.7%, owning 49,175 shares valued at approximately $4.73 million, making it the firm's 28th largest position.
• Significant institutional investments include Nuveen LLC purchasing a new position worth around $399.65 million and JPMorgan Chase & Co. increasing its stake by 30.5%, now owning over 7.4 million shares.
• Analysts maintain a consensus rating of "Moderate Buy" for Arch Capital Group, with a target price averaging $111.27 amidst recent fluctuations in ratings and targets from various brokerage firms.

Steamboat Capital Partners LLC boosted its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 27.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 49,175 shares of the insurance provider's stock after purchasing an additional 10,673 shares during the period. Arch Capital Group makes up 1.4% of Steamboat Capital Partners LLC's investment portfolio, making the stock its 28th largest holding. Steamboat Capital Partners LLC's holdings in Arch Capital Group were worth $4,730,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Capital A Wealth Management LLC purchased a new stake in shares of Arch Capital Group during the fourth quarter worth approximately $25,000. Meeder Asset Management Inc. raised its position in Arch Capital Group by 116.3% during the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after buying an additional 150 shares during the last quarter. Bartlett & CO. Wealth Management LLC purchased a new position in Arch Capital Group during the 1st quarter worth $27,000. Wayfinding Financial LLC purchased a new position in Arch Capital Group during the 1st quarter worth $31,000. Finally, Zions Bancorporation National Association UT purchased a new position in Arch Capital Group during the 1st quarter worth $37,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Ratings Changes

ACGL has been the subject of a number of analyst reports. Citigroup initiated coverage on shares of Arch Capital Group in a research report on Wednesday, August 13th. They set a "buy" rating and a $113.00 price objective for the company. Cantor Fitzgerald upgraded shares of Arch Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Cowen restated a "buy" rating on shares of Arch Capital Group in a research report on Monday, August 4th. 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. Finally, Jefferies Financial Group cut shares of Arch Capital Group from a "buy" rating to a "hold" rating and lowered their price target for the stock from $106.00 to $100.00 in a research note on Tuesday, June 10th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $111.27.

View Our Latest Analysis on Arch Capital Group

Insider Buying and Selling

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the transaction, the insider directly owned 433,589 shares of the company's stock, valued at $40,822,404.35. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.10% of the company's stock.

Arch Capital Group Price Performance

NASDAQ:ACGL traded up $1.58 during trading hours on Wednesday, reaching $92.90. 2,049,809 shares of the company traded hands, compared to its average volume of 1,779,336. The firm's 50-day moving average is $89.57 and its 200-day moving average is $91.24. The stock has a market cap of $34.67 billion, a P/E ratio of 9.59, a P/E/G ratio of 5.60 and a beta of 0.51. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. Arch Capital Group Ltd. has a 1-year low of $82.49 and a 1-year high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its earnings results 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. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.29 billion. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. During the same period in the prior year, the firm earned $2.57 EPS. Equities research analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Arch Capital Group Profile

(Free Report)

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.