Advisors Capital Management LLC Boosts Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Advisors Capital Management LLC lifted its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 18.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,760 shares of the insurance provider’s stock after purchasing an additional 597 shares during the quarter. Advisors Capital Management LLC’s holdings in Arch Capital Group were worth $347,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Arch Capital Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 41,999,603 shares of the insurance provider’s stock valued at $3,878,663,000 after acquiring an additional 182,150 shares during the period. Geode Capital Management LLC raised its holdings in shares of Arch Capital Group by 1.7% during 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 last quarter. Principal Financial Group Inc. lifted its position in Arch Capital Group by 10.5% during the fourth quarter. Principal Financial Group Inc. now owns 8,222,244 shares of the insurance provider’s stock valued at $759,324,000 after purchasing an additional 783,506 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings 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 valued at $488,992,000 after purchasing an additional 226,617 shares during the last quarter. Finally, Norges Bank acquired a new stake in Arch Capital Group during the 4th quarter worth about $437,291,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity at Arch Capital Group

In other news, insider Louis T. Petrillo sold 11,600 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total transaction of $1,055,600.00. Following the transaction, the insider now directly owns 140,023 shares in the company, valued at $12,742,093. The trade was a 7.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.20% of the stock is owned by corporate insiders.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $92.46 on Wednesday. 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’s 50 day simple moving average is $91.49 and its 200-day simple moving average is $96.23. The company has a market cap of $34.74 billion, a PE ratio of 8.26, a price-to-earnings-growth ratio of 2.31 and a beta of 0.36. Arch Capital Group Ltd. has a 1-year low of $82.49 and a 1-year high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.36. Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. During the same quarter in the previous year, the firm posted $2.45 EPS. As a group, equities research analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ACGL has been the topic of a number of recent research reports. JMP Securities restated a “market outperform” rating and issued a $125.00 target price on shares of Arch Capital Group in a research note on Tuesday, February 11th. Royal Bank of Canada dropped their price objective on shares of Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. JPMorgan Chase & Co. lifted their target price on shares of Arch Capital Group from $106.00 to $107.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. Barclays lowered their price target on shares of Arch Capital Group from $100.00 to $93.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Finally, UBS Group cut their price objective on shares of Arch Capital Group from $127.00 to $124.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.88.

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.