Swiss Life Asset Management Ltd Increases Stock Position in Arch Capital Group Ltd. $ACGL
by Mitch Edgeman · The Markets DailySwiss Life Asset Management Ltd boosted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) by 101.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 172,013 shares of the insurance provider’s stock after buying an additional 86,544 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Arch Capital Group were worth $15,607,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. WealthCollab LLC increased its position in shares of Arch Capital Group by 410.3% during the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 238 shares during the last quarter. JPL Wealth Management LLC acquired a new position in shares of Arch Capital Group in the 3rd quarter valued at $28,000. Cornerstone Planning Group LLC grew its position in shares of Arch Capital Group by 426.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider’s stock valued at $33,000 after buying an additional 311 shares during the last quarter. Quent Capital LLC acquired a new stake in Arch Capital Group during the 3rd quarter worth $37,000. Finally, Richardson Financial Services Inc. lifted its position in Arch Capital Group by 63.3% in the third quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 162 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.
Arch Capital Group Stock Performance
Shares of ACGL opened at $92.17 on Friday. The company has a market capitalization of $32.79 billion, a PE ratio of 7.93, a PEG ratio of 3.78 and a beta of 0.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.53 and a current ratio of 0.53. The company’s 50 day moving average price is $96.07 and its 200 day moving average price is $93.07. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $103.39.
Arch Capital Group (NASDAQ:ACGL – Get Free Report) last released its earnings results 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. The company had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $3.94 billion. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. During the same quarter in the prior year, the firm earned $2.26 EPS. Research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price target (up from $97.00) on shares of Arch Capital Group in a research note on Tuesday, February 17th. JPMorgan Chase & Co. upped their price target on Arch Capital Group from $111.00 to $117.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Citigroup reiterated a “buy” rating and set a $120.00 price objective (up from $113.00) on shares of Arch Capital Group in a research note on Friday, February 13th. Royal Bank Of Canada upped their price objective on shares of Arch Capital Group from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $93.00 target price (up from $84.00) on shares of Arch Capital Group in a report on Wednesday, January 7th. Nine equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $109.20.
Get Our Latest Report on Arch Capital Group
Insider Activity at Arch Capital Group
In related news, insider Maamoun Rajeh sold 47,430 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $96.12, for a total transaction of $4,558,971.60. Following the completion of the sale, the insider directly owned 433,589 shares in the company, valued at approximately $41,676,574.68. This trade represents a 9.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicolas Papadopoulo sold 21,930 shares of Arch Capital Group stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $96.31, for a total value of $2,112,078.30. Following the sale, the chief executive officer directly owned 871,594 shares of the company’s stock, valued at approximately $83,943,218.14. The trade was a 2.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 78,267 shares of company stock valued at $7,291,637. 4.20% of the stock is owned by insiders.
Arch Capital Group Company Profile
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.
See Also
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