WINTON GROUP Ltd acquired a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 66,065 shares of the insurance provider's stock, valued at approximately $5,994,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Arch Capital Group by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 42,414,557 shares of the insurance provider's stock worth $3,861,845,000 after buying an additional 493,583 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Arch Capital Group by 1.7% during the second quarter. Artisan Partners Limited Partnership now owns 23,833,290 shares of the insurance provider's stock valued at $2,170,021,000 after acquiring an additional 408,950 shares during the last quarter. WCM Investment Management LLC increased its position in shares of Arch Capital Group by 1.3% during the third quarter. WCM Investment Management LLC now owns 13,525,402 shares of the insurance provider's stock valued at $1,214,987,000 after acquiring an additional 171,693 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Arch Capital Group by 1.1% during the second quarter. Geode Capital Management LLC now owns 10,502,003 shares of the insurance provider's stock worth $952,523,000 after acquiring an additional 115,465 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Arch Capital Group by 4.6% during the third quarter. JPMorgan Chase & Co. now owns 8,190,927 shares of the insurance provider's stock worth $743,168,000 after acquiring an additional 360,626 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ACGL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Arch Capital Group from $111.00 to $117.00 and gave the company a "neutral" rating in a research note on Wednesday, January 7th. Roth Mkm set a $110.00 price target on shares of Arch Capital Group and gave the stock a "buy" rating in a report on Tuesday, December 2nd. Mizuho increased their price target on shares of Arch Capital Group from $95.00 to $102.00 and gave the company a "neutral" rating in a research report on Thursday, February 12th. Citigroup restated a "buy" rating and set a $120.00 price target (up from $113.00) on shares of Arch Capital Group in a research report on Friday, February 13th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $100.00 price objective (up from $97.00) on shares of Arch Capital Group in a research report on Tuesday, February 17th. Nine research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $109.20.
View Our Latest Report on ACGL
Insider Buying and Selling
In other news, insider Maamoun Rajeh sold 47,430 shares of the company's stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $96.12, for a total transaction of $4,558,971.60. Following the completion of the transaction, the insider directly owned 433,589 shares of the company's stock, valued at approximately $41,676,574.68. This represents a 9.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John M. Pasquesi sold 8,800 shares of the business's stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $94.17, for a total value of $828,696.00. Following the transaction, the insider directly owned 289,556 shares in the company, valued at $27,267,488.52. This trade represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 260,096 shares of company stock valued at $24,530,685. Insiders own 4.10% of the company's stock.
Arch Capital Group Trading Down 1.6%
Shares of Arch Capital Group stock opened at $95.62 on Tuesday. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $103.39. The company has a market cap of $34.02 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 3.90 and a beta of 0.40. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.13. The company's 50-day moving average price is $96.28 and its 200-day moving average price is $92.96.
Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data on Monday, February 9th. The insurance provider reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.34 by $0.64. Arch Capital Group had a return on equity of 16.73% and a net margin of 22.07%.The company had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter last year, the business posted $2.26 earnings per share. On average, equities analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.
About Arch Capital Group
(
Free Report)
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.
Further Reading
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