First Trust Advisors LP Grows Position in Arch Capital Group Ltd. $ACGL

First Trust Advisors LP increased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 319.5% in the first quarter, Holdings Channel.com reports. The fund owned 2,626,148 shares of the insurance provider’s stock after purchasing an additional 2,000,162 shares during the period. First Trust Advisors LP’s holdings in Arch Capital Group were worth $252,084,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Legal & General Group Plc boosted its holdings in shares of Arch Capital Group by 4.3% during the 4th quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider’s stock valued at $282,405,000 after purchasing an additional 121,090 shares during the last quarter. National Pension Service grew its position in shares of Arch Capital Group by 8.5% during the fourth quarter. National Pension Service now owns 683,272 shares of the insurance provider’s stock valued at $65,539,000 after purchasing an additional 53,661 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Arch Capital Group by 10.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 187,002 shares of the insurance provider’s stock worth $18,024,000 after purchasing an additional 17,923 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Arch Capital Group by 50.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,548,042 shares of the insurance provider’s stock worth $148,488,000 after purchasing an additional 518,527 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Arch Capital Group by 3.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,033,834 shares of the insurance provider’s stock worth $99,165,000 after purchasing an additional 33,869 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Stock Down 1.9%

Shares of NASDAQ ACGL opened at $98.63 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $105.09. The firm’s 50-day moving average price is $95.48 and its 200-day moving average price is $95.72. The stock has a market capitalization of $34.46 billion, a price-to-earnings ratio of 7.58, a P/E/G ratio of 5.01 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The company had revenue of $4.52 billion during the quarter. On average, equities research analysts anticipate that Arch Capital Group Ltd. will post 9.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ACGL shares. Citigroup increased their price target on Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a research note on Thursday, April 30th. Barclays lifted their price objective on Arch Capital Group from $104.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods decreased their price objective on Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating on the stock in a report on Wednesday, July 8th. Wells Fargo & Company increased their target price on Arch Capital Group from $110.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Atlantic Securities set a $126.00 target price on shares of Arch Capital Group in a report on Wednesday, July 15th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Arch Capital Group presently has an average rating of “Hold” and a consensus price target of $109.82.

Insider Buying and Selling

In related news, Director Daniel Joseph Houston bought 5,300 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was purchased at an average price of $94.08 per share, for a total transaction of $498,624.00. Following the acquisition, the director owned 9,915 shares in the company, valued at $932,803.20. This trade represents a 114.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian S. Posner sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.30% of the company’s stock.

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.