Arch Capital Group Ltd. $ACGL Shares Bought by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lifted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 103.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,264 shares of the insurance provider’s stock after buying an additional 8,768 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Arch Capital Group were worth $1,566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ACGL. Quent Capital LLC bought a new position in Arch Capital Group during the 3rd quarter valued at $37,000. Richardson Financial Services Inc. increased its position in shares of Arch Capital Group by 63.3% in 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 last quarter. Caitong International Asset Management Co. Ltd raised its stake 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 valued at $39,000 after purchasing an additional 414 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position 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. Finally, Root Financial Partners LLC bought a new stake in Arch Capital Group in the third quarter valued at about $54,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ACGL shares. Evercore ISI set a $100.00 target price on Arch Capital Group and gave the stock an “in-line” rating in a research report on Wednesday, January 7th. Barclays set a $104.00 target price on shares of Arch Capital Group and gave the stock an “equal weight” rating in a report on Thursday, January 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Arch Capital Group from $100.00 to $102.00 and gave the company a “market perform” rating in a research report on Tuesday, January 6th. The Goldman Sachs Group reiterated a “sell” rating and set a $93.00 price objective (up previously from $84.00) on shares of Arch Capital Group in a research note on Wednesday, January 7th. Finally, Wells Fargo & Company decreased their target price on Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $107.53.

Arch Capital Group Stock Performance

ACGL stock opened at $93.70 on Tuesday. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $97.60. The company has a market capitalization of $33.98 billion, a P/E ratio of 8.77, a PEG ratio of 1.95 and a beta of 0.45. The company has a 50-day simple moving average of $93.71 and a 200 day simple moving average of $91.02. 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 posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $1.01. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period last year, the firm posted $1.99 earnings per share. Sell-side analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider John M. Pasquesi sold 203,866 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $93.90, for a total transaction of $19,143,017.40. Following the completion of the transaction, the insider owned 351,356 shares of the company’s stock, valued at $32,992,328.40. This trade represents a 36.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Francois Morin sold 8,000 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the sale, the chief financial officer owned 266,681 shares in the company, valued at approximately $25,233,356.22. This trade represents a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 220,666 shares of company stock valued at $20,728,673. 4.10% of the stock is currently owned by corporate insiders.

Arch Capital Group Company 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.