Assenagon Asset Management S.A. Boosts Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Assenagon Asset Management S.A. increased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 36,507 shares of the insurance provider’s stock after purchasing an additional 2,003 shares during the period. Assenagon Asset Management S.A.’s holdings in Arch Capital Group were worth $3,511,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund lifted its holdings in Arch Capital Group by 0.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 32,147 shares of the insurance provider’s stock worth $2,969,000 after buying an additional 110 shares in the last quarter. Cim LLC lifted its holdings in Arch Capital Group by 1.1% during the 4th quarter. Cim LLC now owns 11,194 shares of the insurance provider’s stock worth $1,034,000 after buying an additional 124 shares in the last quarter. CreativeOne Wealth LLC lifted its holdings in Arch Capital Group by 4.9% during the 4th quarter. CreativeOne Wealth LLC now owns 2,682 shares of the insurance provider’s stock worth $248,000 after buying an additional 126 shares in the last quarter. HBK Sorce Advisory LLC raised its holdings in shares of Arch Capital Group by 5.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 2,373 shares of the insurance provider’s stock valued at $219,000 after purchasing an additional 127 shares in the last quarter. Finally, Aurora Investment Managers LLC. raised its holdings in shares of Arch Capital Group by 0.6% in the 1st quarter. Aurora Investment Managers LLC. now owns 22,530 shares of the insurance provider’s stock valued at $2,167,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Trading Down 1.0%

Shares of ACGL stock opened at $90.99 on Monday. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47. The firm’s fifty day simple moving average is $92.61 and its 200 day simple moving average is $92.64. The firm has a market capitalization of $34.10 billion, a P/E ratio of 8.12, a price-to-earnings-growth ratio of 2.31 and a beta of 0.53. The company has a current ratio of 0.54, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.05). Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same quarter in the prior year, the firm earned $2.45 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Nicolas Papadopoulo sold 7,636 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $92.48, for a total value of $706,177.28. Following the sale, the chief executive officer now directly owns 795,718 shares in the company, valued at $73,588,000.64. This trade represents a 0.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Francois Morin sold 12,630 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $94.58, for a total value of $1,194,545.40. Following the sale, the chief financial officer now directly owns 274,681 shares of the company’s stock, valued at approximately $25,979,328.98. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,976 shares of company stock valued at $10,531,038 in the last 90 days. 4.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ACGL has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their target price on shares of Arch Capital Group from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Morgan Stanley set a $110.00 target price on shares of Arch Capital Group and gave the company an “overweight” rating in a research report on Monday, May 19th. JPMorgan Chase & Co. increased their target price on shares of Arch Capital Group from $106.00 to $107.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Barclays dropped their target price on shares of Arch Capital Group from $100.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 target price on shares of Arch Capital Group in a research report on Wednesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Arch Capital Group has a consensus rating of “Moderate Buy” and an average target price of $114.63.

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.