Panagora Asset Management Inc. Increases Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Panagora Asset Management Inc. grew its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGLFree Report) by 32.0% in the fourth quarter, Holdings Channel reports. The firm owned 23,578 shares of the insurance provider’s stock after acquiring an additional 5,722 shares during the period. Panagora Asset Management Inc.’s holdings in Arch Capital Group were worth $1,751,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ACGL. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Arch Capital Group during the 4th quarter worth $27,000. Larson Financial Group LLC purchased a new stake in Arch Capital Group in the fourth quarter worth about $30,000. CVA Family Office LLC purchased a new stake in Arch Capital Group in the fourth quarter worth about $47,000. Covestor Ltd grew its holdings in Arch Capital Group by 342.9% during the 3rd quarter. Covestor Ltd now owns 899 shares of the insurance provider’s stock worth $72,000 after acquiring an additional 696 shares in the last quarter. Finally, Operose Advisors LLC purchased a new position in Arch Capital Group during the 3rd quarter valued at about $75,000. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Trading Up 1.5 %

NASDAQ:ACGL opened at $101.65 on Wednesday. The company has a market capitalization of $38.17 billion, a P/E ratio of 8.02, a PEG ratio of 1.17 and a beta of 0.57. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 12 month low of $69.05 and a 12 month high of $102.41. The firm has a fifty day simple moving average of $93.79 and a 200-day simple moving average of $86.01.

Arch Capital Group (NASDAQ:ACGLGet Free Report) last posted its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.39. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the business earned $1.73 EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts anticipate that Arch Capital Group Ltd. will post 8.55 earnings per share for the current year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CEO Maamoun Rajeh sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the completion of the transaction, the chief executive officer now directly owns 336,170 shares of the company’s stock, valued at approximately $29,408,151.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Arch Capital Group news, CEO Maamoun Rajeh sold 50,000 shares of Arch Capital Group stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the completion of the transaction, the chief executive officer now owns 336,170 shares in the company, valued at approximately $29,408,151.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Gansberg sold 10,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $96.64, for a total value of $966,400.00. Following the completion of the transaction, the chief executive officer now directly owns 228,035 shares of the company’s stock, valued at approximately $22,037,302.40. The disclosure for this sale can be found here. Insiders have sold a total of 145,689 shares of company stock worth $12,838,617 over the last quarter. Insiders own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company increased their target price on Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Bank of America lifted their price target on Arch Capital Group from $105.00 to $109.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Roth Mkm reissued a “buy” rating and set a $110.00 price target on shares of Arch Capital Group in a research report on Tuesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Arch Capital Group from $103.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $100.67.

View Our Latest Report on ACGL

Arch Capital Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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