Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.1% during the fourth quarter, HoldingsChannel reports. The firm owned 171,526 shares of the insurance provider’s stock after purchasing an additional 1,898 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Arch Capital Group were worth $12,739,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Balentine LLC increased its stake in Arch Capital Group by 2.6% during the 2nd quarter. Balentine LLC now owns 5,298 shares of the insurance provider’s stock valued at $397,000 after purchasing an additional 133 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Arch Capital Group by 2.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,448 shares of the insurance provider’s stock valued at $405,000 after purchasing an additional 144 shares in the last quarter. Signaturefd LLC increased its stake in Arch Capital Group by 6.8% during the 3rd quarter. Signaturefd LLC now owns 2,292 shares of the insurance provider’s stock valued at $183,000 after purchasing an additional 146 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in shares of Arch Capital Group by 15.2% in the third quarter. SRS Capital Advisors Inc. now owns 1,107 shares of the insurance provider’s stock worth $88,000 after acquiring an additional 146 shares during the period. Finally, Legacy Wealth Asset Management LLC increased its stake in shares of Arch Capital Group by 2.2% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 6,985 shares of the insurance provider’s stock worth $519,000 after acquiring an additional 149 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

ACGL opened at $92.93 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.17. The company has a market cap of $34.86 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 1.14 and a beta of 0.57. Arch Capital Group Ltd. has a 52-week low of $69.05 and a 52-week high of $95.01. The firm’s fifty day simple moving average is $89.55 and its two-hundred day simple moving average is $83.98.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Thursday, February 15th. The insurance provider reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.55. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.67 billion. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. During the same period last year, the firm posted $2.14 earnings per share. Equities analysts anticipate that Arch Capital Group Ltd. will post 8.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ACGL has been the topic of a number of research reports. Citigroup cut their price objective on shares of Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating on the stock in a research note on Monday, January 22nd. Morgan Stanley increased their price objective on shares of Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $98.00 price objective on shares of Arch Capital Group in a research note on Friday, February 16th. JPMorgan Chase & Co. increased their price objective on shares of Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Evercore ISI increased their price objective on shares of Arch Capital Group from $92.00 to $100.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.23.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the transaction, the insider now directly owns 651,931 shares of the company’s stock, valued at $57,057,001.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Maamoun Rajeh sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total value of $4,374,000.00. Following the transaction, the chief executive officer now directly owns 336,170 shares of the company’s stock, valued at $29,408,151.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicolas Papadopoulo sold 60,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the completion of the transaction, the insider now directly owns 651,931 shares in the company, valued at $57,057,001.12. The disclosure for this sale can be found here. Insiders have sold a total of 135,689 shares of company stock valued at $11,872,217 over the last ninety days. Corporate insiders own 4.20% of the company’s stock.

About Arch Capital Group

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.