Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Arch Capital Group by 2.1%, purchasing an additional 3,428 shares, bringing its total to 167,609 shares valued at approximately $16.12 million.
• In the last quarter, multiple institutional investors including Pictet Asset Management and CIBC Private Wealth Group made significant increases to their stakes in Arch Capital Group, highlighting strong institutional interest.
• Arch Capital Group reported earnings of $2.58 per share, exceeding analyst expectations, and forecasts an average of $8.42 EPS for the current fiscal year.

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 167,609 shares of the insurance provider's stock after acquiring an additional 3,428 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Arch Capital Group were worth $16,121,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Pictet Asset Management Holding SA grew its holdings in Arch Capital Group by 16.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 228,753 shares of the insurance provider's stock valued at $21,125,000 after purchasing an additional 31,591 shares during the period. Orion Portfolio Solutions LLC grew its holdings in Arch Capital Group by 14.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 14,282 shares of the insurance provider's stock valued at $1,319,000 after purchasing an additional 1,772 shares during the period. CIBC Private Wealth Group LLC grew its holdings in Arch Capital Group by 35.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 8,614 shares of the insurance provider's stock valued at $798,000 after purchasing an additional 2,267 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in Arch Capital Group during the fourth quarter valued at about $554,000. Finally, Franklin Resources Inc. grew its holdings in Arch Capital Group by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 616,723 shares of the insurance provider's stock valued at $56,954,000 after purchasing an additional 8,256 shares during the period. Institutional investors own 89.07% of the company's stock.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, insider John M. Pasquesi sold 75,060 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $94.01, for a total transaction of $7,056,390.60. Following the sale, the insider directly owned 579,218 shares in the company, valued at $54,452,284.18. This represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Francois Morin sold 12,630 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $94.58, for a total value of $1,194,545.40. Following the sale, the chief financial officer owned 274,681 shares in the company, valued at approximately $25,979,328.98. This trade represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,340 shares of company stock worth $9,824,861 over the last ninety days. Company insiders own 4.20% of the company's stock.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL traded up $1.94 during mid-day trading on Friday, reaching $88.00. The stock had a trading volume of 2,846,750 shares, compared to its average volume of 1,926,353. 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 company has a market cap of $32.98 billion, a P/E ratio of 9.08, a price-to-earnings-growth ratio of 5.90 and a beta of 0.51. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47. The business's 50 day moving average price is $90.41 and its 200 day moving average price is $91.64.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data 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. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the business posted $2.57 earnings per share. Research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ACGL shares. Wells Fargo & Company dropped their price objective on Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating for the company in a research note on Thursday. 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. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $101.00 price objective (down previously from $113.00) on shares of Arch Capital Group in a research note on Wednesday, July 9th. Morgan Stanley set a $110.00 price objective on Arch Capital Group and gave the stock an "overweight" rating in a research note on Monday, May 19th. Finally, UBS Group upped their price objective on Arch Capital Group to $124.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Arch Capital Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $113.40.

About Arch Capital Group

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.