JPMorgan Chase & Co. Purchases 360,626 Shares of Arch Capital Group Ltd. $ACGL

JPMorgan Chase & Co. boosted its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 8,190,927 shares of the insurance provider’s stock after purchasing an additional 360,626 shares during the period. JPMorgan Chase & Co. owned about 2.26% of Arch Capital Group worth $743,168,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACGL. Cornerstone Planning Group LLC boosted its position in Arch Capital Group by 426.0% in the third quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 311 shares during the last quarter. Quent Capital LLC bought a new stake in shares of Arch Capital Group during the 3rd quarter worth $37,000. Richardson Financial Services Inc. raised its stake in shares of Arch Capital Group by 63.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 162 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Arch Capital Group by 3,450.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock worth $39,000 after buying an additional 414 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its position in Arch Capital Group by 31.4% during the second quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock valued at $43,000 after buying an additional 112 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings raised Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. UBS Group reissued a “buy” rating and issued a $114.00 price objective (up previously from $113.00) on shares of Arch Capital Group in a report on Tuesday. Mizuho boosted their price objective on Arch Capital Group from $95.00 to $102.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Royal Bank Of Canada upped their price objective on shares of Arch Capital Group from $108.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. Finally, Morgan Stanley set a $125.00 target price on shares of Arch Capital Group in a research note on Friday, January 16th. Nine research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Arch Capital Group currently has an average rating of “Hold” and an average price target of $109.20.

Insider Buying and Selling

In other Arch Capital Group news, insider Maamoun Rajeh sold 47,430 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $96.12, for a total value of $4,558,971.60. Following the sale, the insider directly owned 433,589 shares of the company’s stock, valued at approximately $41,676,574.68. The trade was a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John M. Pasquesi sold 8,800 shares of Arch Capital Group stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $94.17, for a total value of $828,696.00. Following the completion of the transaction, the insider directly owned 289,556 shares of the company’s stock, valued at approximately $27,267,488.52. This represents a 2.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 268,096 shares of company stock valued at $25,287,645 over the last quarter. Corporate insiders own 4.10% of the company’s stock.

Arch Capital Group Trading Up 0.5%

Shares of ACGL stock opened at $98.88 on Wednesday. The business has a 50-day moving average price of $95.42 and a two-hundred day moving average price of $92.13. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $103.39. The company has a quick ratio of 0.55, a current ratio of 0.53 and a debt-to-equity ratio of 0.13. The firm has a market cap of $35.86 billion, a P/E ratio of 8.51, a price-to-earnings-growth ratio of 3.94 and a beta of 0.42.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Monday, February 9th. The insurance provider reported $2.98 EPS for the quarter, topping the consensus estimate of $2.34 by $0.64. Arch Capital Group had a return on equity of 16.73% and a net margin of 22.07%.The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the business earned $2.26 earnings per share. Equities analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

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.