Arrowstreet Capital Limited Partnership Grows Holdings in Arch Capital Group Ltd. $ACGL

Arrowstreet Capital Limited Partnership grew its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 50.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,910,063 shares of the insurance provider’s stock after buying an additional 641,462 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.55% of Arch Capital Group worth $183,347,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new position in Arch Capital Group during the fourth quarter valued at approximately $463,208,000. First Trust Advisors LP raised its position in Arch Capital Group by 319.5% in the 1st quarter. First Trust Advisors LP now owns 2,626,148 shares of the insurance provider’s stock worth $252,084,000 after purchasing an additional 2,000,162 shares during the period. AQR Capital Management LLC raised its position in Arch Capital Group by 184.1% in the 4th quarter. AQR Capital Management LLC now owns 2,670,628 shares of the insurance provider’s stock worth $256,167,000 after purchasing an additional 1,730,487 shares during the period. Fiduciary Management Inc. WI bought a new stake in Arch Capital Group in the fourth quarter worth $106,683,000. Finally, Ameriprise Financial Inc. lifted its stake in 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 purchasing an additional 1,016,919 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Brian S. Posner sold 3,000 shares of the company’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Joseph Houston bought 5,300 shares of the stock in a transaction on Thursday, April 30th. The stock was purchased at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the acquisition, the director owned 9,915 shares of the company’s stock, valued at $932,803.20. This trade represents a 114.84% increase in their position. The SEC filing for this purchase provides additional information. 3.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group restated a “buy” rating and set a $120.00 price target (up from $114.00) on shares of Arch Capital Group in a research report on Wednesday, July 8th. Wells Fargo & Company raised their target price on shares of Arch Capital Group from $110.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Atlantic Securities set a $126.00 target price on shares of Arch Capital Group in a research note on Wednesday, July 15th. Citigroup upped their price target on shares of Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Mizuho raised their price target on shares of Arch Capital Group from $101.00 to $104.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $109.82.

Arch Capital Group Price Performance

NASDAQ ACGL opened at $103.36 on Friday. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $105.09. The stock has a 50-day moving average of $95.81 and a 200 day moving average of $95.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $36.11 billion, a price-to-earnings ratio of 7.94, a PEG ratio of 4.99 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. The firm had revenue of $4.52 billion for the quarter. On average, sell-side analysts forecast that Arch Capital Group Ltd. will post 9.34 EPS for the current year.

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.