Steward Partners Investment Advisory LLC Purchases 3,158 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Steward Partners Investment Advisory LLC increased its stake in Arch Capital Group by 9.9%, acquiring an additional 3,158 shares, bringing its total holdings to 34,987 shares valued at approximately $3.37 million.
• Several other institutional investors have also increased their positions in Arch Capital Group, with 89.07% of the stock now owned by such investors.
• Arch Capital Group recently reported an EPS of $2.58 for the last quarter, exceeding estimates, and has a consensus price target of $112.13 from analysts.

Steward Partners Investment Advisory LLC raised its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,987 shares of the insurance provider's stock after acquiring an additional 3,158 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Arch Capital Group were worth $3,365,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Arch Capital Group by 14.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,804 shares of the insurance provider's stock valued at $4,924,000 after acquiring an additional 6,406 shares during the period. DAVENPORT & Co LLC bought a new position in Arch Capital Group in the 1st quarter valued at about $251,000. D.A. Davidson & CO. raised its holdings in Arch Capital Group by 10.9% in the 1st quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider's stock valued at $4,381,000 after acquiring an additional 4,460 shares during the period. Crossmark Global Holdings Inc. raised its holdings in Arch Capital Group by 24.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 37,625 shares of the insurance provider's stock valued at $3,619,000 after acquiring an additional 7,448 shares during the period. Finally, World Investment Advisors raised its holdings in Arch Capital Group by 114.1% in the 1st quarter. World Investment Advisors now owns 6,321 shares of the insurance provider's stock valued at $608,000 after acquiring an additional 3,369 shares during the period. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $92.84 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $34.65 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 5.62 and a beta of 0.49. The firm's 50 day simple moving average is $89.37 and its 200 day simple moving average is $91.21. 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 posted its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.28. The business 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 quarter last year, the business posted $2.57 EPS. As a group, research analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on ACGL. Morgan Stanley set a $110.00 price target on shares of Arch Capital Group and gave the company an "overweight" rating in a report on Monday, May 19th. Citigroup began coverage on shares of Arch Capital Group in a report on Wednesday, August 13th. They set a "buy" rating and a $113.00 target price on the stock. Cowen reaffirmed a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Wells Fargo & Company lowered 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 report on Thursday, July 31st. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $125.00 target price on shares of Arch Capital Group in a report on Wednesday, April 30th. Ten equities research 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 $112.13.

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.

Want to see what other hedge funds are holding ACGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.