Moors & Cabot Inc. Takes $266,000 Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Moors & Cabot Inc. acquired a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,232 shares of the insurance provider’s stock, valued at approximately $266,000.

A number of other hedge funds also recently made changes to their positions in the business. abrdn plc lifted its position in shares of Arch Capital Group by 173.8% in the fourth quarter. abrdn plc now owns 97,977 shares of the insurance provider’s stock valued at $6,151,000 after buying an additional 62,192 shares during the last quarter. Chevy Chase Trust Holdings LLC acquired a new stake in shares of Arch Capital Group in the fourth quarter valued at approximately $13,512,000. Intech Investment Management LLC lifted its position in shares of Arch Capital Group by 55.5% in the fourth quarter. Intech Investment Management LLC now owns 160,955 shares of the insurance provider’s stock valued at $10,105,000 after buying an additional 57,425 shares during the last quarter. Cibc World Markets Corp acquired a new stake in shares of Arch Capital Group in the fourth quarter valued at approximately $7,683,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Arch Capital Group by 143.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,934 shares of the insurance provider’s stock worth $3,637,000 after purchasing an additional 34,185 shares during the period. 88.78% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Trading Up 1.0 %

Shares of ACGL opened at $76.02 on Monday. Arch Capital Group Ltd. has a 52-week low of $41.05 and a 52-week high of $78.30. The business’s fifty day moving average is $70.84 and its 200-day moving average is $65.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market cap of $28.31 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.22 and a beta of 0.72.

Arch Capital Group (NASDAQ:ACGL – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The insurance provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.22. Arch Capital Group had a return on equity of 17.51% and a net margin of 18.43%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the company posted $1.10 EPS. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. Equities analysts anticipate that Arch Capital Group Ltd. will post 6.22 EPS for the current fiscal year.

Insider Activity

In other news, CFO Francois Morin sold 15,814 shares of Arch Capital Group stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $67.61, for a total value of $1,069,184.54. Following the transaction, the chief financial officer now owns 185,869 shares in the company, valued at approximately $12,566,603.09. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Louis T. Petrillo sold 15,406 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $76.79, for a total transaction of $1,183,026.74. Following the sale, the insider now owns 105,254 shares of the company’s stock, valued at approximately $8,082,454.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Francois Morin sold 15,814 shares of the firm’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $67.61, for a total value of $1,069,184.54. Following the sale, the chief financial officer now directly owns 185,869 shares in the company, valued at approximately $12,566,603.09. The disclosure for this sale can be found here. In the last quarter, insiders have sold 217,160 shares of company stock worth $16,192,067. Insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Roth Capital reiterated a “buy” rating on shares of Arch Capital Group in a research note on Tuesday, February 14th. StockNews.com assumed coverage on Arch Capital Group in a research note on Thursday. They set a “buy” rating on the stock. JPMorgan Chase & Co. increased their target price on Arch Capital Group from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, March 31st. Barclays increased their target price on Arch Capital Group from $78.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. Finally, Jefferies Financial Group lowered their price objective on Arch Capital Group from $86.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, April 10th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $74.20.

Arch Capital Group Company Profile

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Arch Capital Group Ltd. engages in the provision of property and casualty insurance and reinsurance lines. It operates through the following segments: Insurance, Reinsurance, Mortgage, Corporate, and Other. The Insurance segment consists of insurance underwriting units which offer specialty product lines like construction and national accounts, excess and surplus casualty, lenders products, professional lines, and programs.