Scotia Capital Inc. Buys 1,254 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Scotia Capital Inc. raised its stake in Arch Capital Group Ltd. (NASDAQ:ACGLFree Report) by 37.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,604 shares of the insurance provider’s stock after buying an additional 1,254 shares during the quarter. Scotia Capital Inc.’s holdings in Arch Capital Group were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACGL. Davis Asset Management L.P. lifted its holdings in Arch Capital Group by 441.7% during the fourth quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock worth $482,755,000 after acquiring an additional 5,300,000 shares in the last quarter. Norges Bank acquired a new position in shares of Arch Capital Group in the 4th quarter valued at approximately $309,496,000. Envestnet Asset Management Inc. increased its stake in Arch Capital Group by 112.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider’s stock worth $208,905,000 after purchasing an additional 1,387,072 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Arch Capital Group by 597.9% during the 3rd quarter. Hsbc Holdings PLC now owns 1,419,944 shares of the insurance provider’s stock worth $113,516,000 after buying an additional 1,216,498 shares during the period. Finally, Invesco Ltd. lifted its stake in Arch Capital Group by 16.3% in the third quarter. Invesco Ltd. now owns 3,385,665 shares of the insurance provider’s stock valued at $269,871,000 after buying an additional 475,464 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

ACGL has been the topic of a number of research analyst reports. Roth Mkm restated a “buy” rating and set a $110.00 price objective on shares of Arch Capital Group in a report on Tuesday, April 30th. Wells Fargo & Company lifted their price target on Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. upped their price objective on Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Evercore ISI lifted their target price on Arch Capital Group from $98.00 to $100.00 and gave the company an “in-line” rating in a research report on Tuesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Arch Capital Group from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.33.

Check Out Our Latest Research Report on Arch Capital Group

Arch Capital Group Trading Down 1.2 %

Arch Capital Group stock opened at $99.68 on Thursday. The stock has a 50-day simple moving average of $96.15 and a 200 day simple moving average of $87.33. The stock has a market capitalization of $37.43 billion, a P/E ratio of 7.87, a PEG ratio of 2.34 and a beta of 0.60. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 0.59. Arch Capital Group Ltd. has a 52 week low of $69.49 and a 52 week high of $103.79.

Arch Capital Group (NASDAQ:ACGLGet Free Report) last issued its earnings results on Monday, April 29th. The insurance provider reported $2.45 EPS for the quarter, topping the consensus estimate of $2.06 by $0.39. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the company posted $1.73 EPS. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. Analysts expect that Arch Capital Group Ltd. will post 8.51 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO David Gansberg sold 10,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $96.64, for a total value of $966,400.00. Following the transaction, the chief executive officer now directly owns 228,035 shares of the company’s stock, valued at $22,037,302.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.20% of the company’s stock.

Arch Capital Group Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ACGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arch Capital Group Ltd. (NASDAQ:ACGLFree Report).

Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

Receive News & Ratings for Arch Capital Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arch Capital Group and related companies with MarketBeat.com's FREE daily email newsletter.