First Horizon Corp Takes Position in Arch Capital Group Ltd. $ACGL

First Horizon Corp bought a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 6,360 shares of the insurance provider’s stock, valued at approximately $577,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. grew its holdings in shares of Arch Capital Group by 31.4% during the second quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 112 shares during the last quarter. Crescent Grove Advisors LLC boosted its position in shares of Arch Capital Group by 3.1% in the 2nd quarter. Crescent Grove Advisors LLC now owns 3,702 shares of the insurance provider’s stock valued at $337,000 after purchasing an additional 112 shares during the period. TIAA Trust National Association grew its stake in Arch Capital Group by 3.1% during the 2nd quarter. TIAA Trust National Association now owns 3,892 shares of the insurance provider’s stock worth $354,000 after buying an additional 116 shares during the last quarter. Greenleaf Trust increased its position in Arch Capital Group by 4.2% during the second quarter. Greenleaf Trust now owns 3,082 shares of the insurance provider’s stock worth $281,000 after buying an additional 125 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its stake in Arch Capital Group by 4.4% in the second quarter. J.W. Cole Advisors Inc. now owns 3,025 shares of the insurance provider’s stock valued at $275,000 after buying an additional 127 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ACGL shares. Barclays set a $104.00 target price on shares of Arch Capital Group and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. Evercore ISI set a $100.00 price objective on shares of Arch Capital Group and gave the stock an “in-line” rating in a research report on Wednesday, January 7th. JPMorgan Chase & Co. upped their target price on shares of Arch Capital Group from $111.00 to $117.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods raised their price target on Arch Capital Group from $100.00 to $102.00 and gave the stock a “market perform” rating in a report on Tuesday, January 6th. Finally, 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. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $106.60.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $90.77 on Wednesday. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $97.60. The company has a 50-day moving average price of $93.46 and a 200 day moving average price of $90.87. The company has a market cap of $32.92 billion, a P/E ratio of 8.49, a PEG ratio of 2.10 and a beta of 0.45. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.13.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share (EPS) 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 business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the business posted $1.99 EPS. Research analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insiders Place Their Bets

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 transaction of $828,696.00. Following the sale, the insider directly owned 289,556 shares in the company, valued at approximately $27,267,488.52. The trade was a 2.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 transaction of $756,960.00. Following the completion of the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 220,666 shares of company stock valued at $20,728,673. 4.10% of the stock is owned by corporate insiders.

About Arch Capital Group

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.