Bank of Nova Scotia Has $26.02 Million Position in Arch Capital Group Ltd. $ACGL

Bank of Nova Scotia increased its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 12.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,124 shares of the insurance provider’s stock after purchasing an additional 30,117 shares during the period. Bank of Nova Scotia owned approximately 0.08% of Arch Capital Group worth $26,025,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Arch Capital Group during the fourth quarter worth $463,208,000. Morgan Stanley boosted its stake in Arch Capital Group by 0.8% in the 4th quarter. Morgan Stanley now owns 4,289,082 shares of the insurance provider’s stock worth $411,409,000 after purchasing an additional 33,132 shares during the period. Dimensional Fund Advisors LP boosted its stake in Arch Capital Group by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,173,885 shares of the insurance provider’s stock worth $400,643,000 after purchasing an additional 117,929 shares during the period. Goldman Sachs Group Inc. increased its holdings in Arch Capital Group by 5.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,949,978 shares of the insurance provider’s stock worth $282,962,000 after purchasing an additional 160,326 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Arch Capital Group by 4.3% during the 4th quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider’s stock worth $282,405,000 after purchasing an additional 121,090 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ACGL. UBS Group restated a “buy” rating and issued a $120.00 price target (up from $114.00) on shares of Arch Capital Group in a report on Wednesday, July 8th. Keefe, Bruyette & Woods decreased their price objective on Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating for the company in a report on Wednesday, July 8th. Atlantic Securities set a $126.00 target price on Arch Capital Group in a research report on Wednesday, July 15th. Cantor Fitzgerald restated a “neutral” rating and issued a $102.00 target price (up from $100.00) on shares of Arch Capital Group in a research note on Thursday, July 9th. Finally, Morgan Stanley upped their price target on Arch Capital Group from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $109.82.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, Director Brian S. Posner sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel Joseph Houston acquired 5,300 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were bought at an average price of $94.08 per share, for a total transaction of $498,624.00. Following the purchase, the director owned 9,915 shares in the company, valued at approximately $932,803.20. This represents a 114.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.30% of the company’s stock.

Arch Capital Group Trading Up 3.3%

Arch Capital Group stock opened at $103.36 on Friday. The firm has a 50-day moving average of $95.81 and a 200-day moving average of $95.81. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $105.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market cap of $36.11 billion, a price-to-earnings ratio of 7.94, a P/E/G ratio of 5.15 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. The company had revenue of $4.52 billion during the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%. On average, equities analysts expect that Arch Capital Group Ltd. will post 9.34 earnings per share 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.