Raiffeisen Bank International AG bought a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,323 shares of the insurance provider's stock, valued at approximately $1,776,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Arch Capital Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 41,999,603 shares of the insurance provider's stock worth $3,878,663,000 after purchasing an additional 182,150 shares during the period. Geode Capital Management LLC increased its position in Arch Capital Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 11,010,756 shares of the insurance provider's stock worth $1,014,648,000 after purchasing an additional 180,493 shares during the period. Principal Financial Group Inc. increased its position in Arch Capital Group by 10.5% in the fourth quarter. Principal Financial Group Inc. now owns 8,222,244 shares of the insurance provider's stock worth $759,324,000 after purchasing an additional 783,506 shares during the period. Allspring Global Investments Holdings LLC increased its position in Arch Capital Group by 4.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,350,868 shares of the insurance provider's stock worth $488,992,000 after purchasing an additional 226,617 shares during the period. Finally, Nuveen Asset Management LLC increased its position in Arch Capital Group by 1.9% in the fourth quarter. Nuveen Asset Management LLC now owns 4,888,997 shares of the insurance provider's stock worth $451,499,000 after purchasing an additional 93,226 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Arch Capital Group
In related news, insider Louis T. Petrillo sold 11,600 shares of Arch Capital Group stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total value of $1,055,600.00. Following the sale, the insider now owns 140,023 shares of the company's stock, valued at approximately $12,742,093. This trade represents a 7.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John M. Pasquesi sold 75,060 shares of Arch Capital Group stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $94.01, for a total value of $7,056,390.60. Following the completion of the sale, the insider now directly owns 579,218 shares in the company, valued at approximately $54,452,284.18. This represents a 11.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,946 shares of company stock valued at $10,392,092. 4.20% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Royal Bank of Canada lowered their price objective on Arch Capital Group from $125.00 to $110.00 and set an "outperform" rating for the company in a research report on Wednesday, February 12th. UBS Group reduced their target price on Arch Capital Group from $127.00 to $124.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Keefe, Bruyette & Woods raised their target price on Arch Capital Group from $104.00 to $113.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. raised their target price on Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Finally, JMP Securities restated a "market outperform" rating and set a $125.00 target price on shares of Arch Capital Group in a report on Wednesday, April 30th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $115.00.
Check Out Our Latest Stock Report on ACGL
Arch Capital Group Trading Up 1.1%
NASDAQ:ACGL opened at $94.59 on Friday. 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 debt-to-equity ratio of 0.15, a current ratio of 0.54 and a quick ratio of 0.58. The stock has a market capitalization of $35.45 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 2.31 and a beta of 0.57. The business's 50-day simple moving average is $92.47 and its 200-day simple moving average is $93.57.
Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.05). Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter last year, the firm earned $2.45 EPS. The company's revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.
Arch Capital Group Company Profile
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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.
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