SRS Capital Advisors Inc. Buys 969 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

SRS Capital Advisors Inc. raised its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 87.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,076 shares of the insurance provider’s stock after purchasing an additional 969 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Arch Capital Group were worth $154,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. grew its stake in Arch Capital Group by 2.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,448 shares of the insurance provider’s stock valued at $405,000 after purchasing an additional 144 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Arch Capital Group by 6.8% during the 3rd quarter. Signaturefd LLC now owns 2,292 shares of the insurance provider’s stock worth $183,000 after acquiring an additional 146 shares during the period. Chase Investment Counsel Corp boosted its stake in shares of Arch Capital Group by 0.4% during the 4th quarter. Chase Investment Counsel Corp now owns 39,656 shares of the insurance provider’s stock worth $2,945,000 after acquiring an additional 148 shares during the period. Legacy Wealth Asset Management LLC boosted its stake in shares of Arch Capital Group by 2.2% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 6,985 shares of the insurance provider’s stock worth $519,000 after acquiring an additional 149 shares during the period. Finally, Steph & Co. boosted its stake in shares of Arch Capital Group by 4.5% during the 3rd quarter. Steph & Co. now owns 4,247 shares of the insurance provider’s stock worth $339,000 after acquiring an additional 181 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Francois Morin sold 25,689 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the sale, the chief financial officer now owns 221,779 shares in the company, valued at approximately $19,399,009.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.52, for a total value of $5,251,200.00. Following the sale, the insider now owns 651,931 shares in the company, valued at approximately $57,057,001.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Francois Morin sold 25,689 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $87.47, for a total value of $2,247,016.83. Following the completion of the sale, the chief financial officer now owns 221,779 shares in the company, valued at approximately $19,399,009.13. The disclosure for this sale can be found here. Insiders have sold 135,689 shares of company stock worth $11,872,217 in the last 90 days. Insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ACGL. Royal Bank of Canada reiterated an “outperform” rating and set a $98.00 target price on shares of Arch Capital Group in a research note on Friday, February 16th. Roth Mkm reiterated a “buy” rating and set a $110.00 target price on shares of Arch Capital Group in a research note on Tuesday. Evercore ISI lifted their target price on Arch Capital Group from $98.00 to $100.00 and gave the stock an “in-line” rating in a research note on Tuesday. Morgan Stanley lifted their price target on Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, TD Cowen initiated coverage on Arch Capital Group in a report on Wednesday, January 10th. They set an “outperform” rating and a $96.00 price target for the company. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.67.

Arch Capital Group Price Performance

NASDAQ ACGL traded down $0.76 during midday trading on Friday, hitting $94.41. The company had a trading volume of 1,696,539 shares, compared to its average volume of 1,731,061. The company has a market capitalization of $35.42 billion, a PE ratio of 7.45, a P/E/G ratio of 1.13 and a beta of 0.57. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $91.15 and a 200-day moving average price of $84.77. Arch Capital Group Ltd. has a twelve month low of $69.05 and a twelve month high of $96.58.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.39. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. Arch Capital Group’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.73 EPS. As a group, analysts anticipate that Arch Capital Group Ltd. will post 8.43 earnings per share for the current fiscal year.

Arch Capital Group 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.