Exchange Traded Concepts LLC Boosts Stock Position in Arch Capital Group Ltd. $ACGL

Exchange Traded Concepts LLC increased its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 2,079.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,885 shares of the insurance provider’s stock after purchasing an additional 38,055 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Arch Capital Group were worth $3,619,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new position in Arch Capital Group in the 2nd quarter worth about $441,551,000. Ameriprise Financial Inc. lifted its holdings in shares of Arch Capital Group by 289.1% in the second quarter. Ameriprise Financial Inc. now owns 1,368,648 shares of the insurance provider’s stock worth $124,615,000 after buying an additional 1,016,919 shares in the last quarter. Champlain Investment Partners LLC grew its stake in Arch Capital Group by 109.3% during the second quarter. Champlain Investment Partners LLC now owns 1,045,262 shares of the insurance provider’s stock valued at $95,171,000 after acquiring an additional 545,777 shares in the last quarter. Worldquant Millennium Advisors LLC grew its stake in Arch Capital Group by 249.7% during the second quarter. Worldquant Millennium Advisors LLC now owns 707,039 shares of the insurance provider’s stock valued at $64,376,000 after acquiring an additional 504,880 shares in the last quarter. Finally, Man Group plc increased its holdings in Arch Capital Group by 261.4% during the 2nd quarter. Man Group plc now owns 692,044 shares of the insurance provider’s stock worth $63,011,000 after acquiring an additional 500,547 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Price Performance

Shares of Arch Capital Group stock opened at $96.69 on Thursday. The firm has a market capitalization of $35.06 billion, a PE ratio of 9.04, a price-to-earnings-growth ratio of 2.26 and a beta of 0.47. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.13. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $97.60. The business’s 50-day moving average price is $91.11 and its 200-day moving average price is $90.43.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $1.01. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the previous year, the company posted $1.99 EPS. Sell-side analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Arch Capital Group news, insider John M. Pasquesi sold 8,800 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $94.17, for a total value of $828,696.00. Following the completion of the sale, the insider directly owned 289,556 shares of the company’s stock, valued at $27,267,488.52. The trade was a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Francois Morin sold 8,000 shares of the stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $94.62, for a total value of $756,960.00. Following the sale, the chief financial officer owned 266,681 shares of the company’s stock, valued at $25,233,356.22. This represents a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 220,666 shares of company stock valued at $20,728,673. Company insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ACGL. Weiss Ratings reissued a “hold (c+)” rating on shares of Arch Capital Group in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Arch Capital Group from $110.00 to $111.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Barclays set a $99.00 target price on Arch Capital Group and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Mizuho set a $95.00 price target on Arch Capital Group and gave the company a “neutral” rating in a research report on Monday, December 15th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $98.00 price objective on shares of Arch Capital Group in a report on Tuesday, October 28th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $106.00.

Arch Capital Group 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.