Swedbank AB Buys 336,956 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Swedbank AB increased its holdings in Arch Capital Group by 24.8% during Q2, owning 1,697,786 shares valued at approximately $154.58 million.
• JPMorgan Chase & Co. lifted its stake in Arch Capital by 30.5%, now holding 7,470,591 shares worth around $718.52 million, indicating significant institutional investor interest.
• Arch Capital Group reported earnings of $2.58 EPS for the latest quarter, surpassing analyst expectations, with revenue reaching $4.35 billion.

Swedbank AB increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 24.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,697,786 shares of the insurance provider's stock after acquiring an additional 336,956 shares during the period. Swedbank AB owned about 0.45% of Arch Capital Group worth $154,583,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in Arch Capital Group during the fourth quarter valued at about $25,000. Bartlett & CO. Wealth Management LLC bought a new position in Arch Capital Group during the first quarter valued at about $27,000. Meeder Asset Management Inc. raised its holdings in Arch Capital Group by 116.3% during the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock valued at $27,000 after buying an additional 150 shares in the last quarter. Wayfinding Financial LLC bought a new position in Arch Capital Group during the first quarter valued at about $31,000. Finally, Zions Bancorporation National Association UT bought a new position in Arch Capital Group during the first quarter valued at about $37,000. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Price Performance

Shares of ACGL traded down $0.37 on Monday, hitting $88.03. The company's stock had a trading volume of 3,024,404 shares, compared to its average volume of 1,948,425. The company has a market capitalization of $32.85 billion, a PE ratio of 9.08, a PEG ratio of 5.41 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 fifty-two week low of $82.49 and a fifty-two week high of $116.47. The company has a 50 day moving average price of $89.73 and a 200 day moving average price of $91.22.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 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 the consensus estimate of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.During the same period in the previous year, the business earned $2.57 EPS. On average, research analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Maamoun Rajeh sold 10,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider owned 433,589 shares in the company, valued at $40,822,404.35. The trade was a 2.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ACGL has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered Arch Capital Group from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $106.00 to $100.00 in a research note on Tuesday, June 10th. Wolfe Research initiated coverage on Arch Capital Group in a research report on Monday, September 15th. They set a "peer perform" rating on the stock. Citigroup initiated coverage on Arch Capital Group in a report on Wednesday, August 13th. They set a "buy" rating and a $113.00 price objective on the stock. Cantor Fitzgerald raised Arch Capital Group to a "hold" rating in a report on Wednesday, August 13th. Finally, Cowen reaffirmed a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $109.36.

Arch Capital Group Company 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.