APG Asset Management N.V. Boosts Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

APG Asset Management N.V. boosted its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 99.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 367,118 shares of the insurance provider’s stock after purchasing an additional 183,254 shares during the quarter. APG Asset Management N.V. owned about 0.10% of Arch Capital Group worth $34,559,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACGL. UMB Bank n.a. purchased a new position in shares of Arch Capital Group during the second quarter valued at approximately $30,000. Baldwin Brothers LLC MA raised its holdings in Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 104 shares during the last quarter. Richardson Financial Services Inc. purchased a new position in shares of Arch Capital Group during the 4th quarter worth $33,000. Rothschild Investment LLC purchased a new position in shares of Arch Capital Group during the 2nd quarter worth $35,000. Finally, LRI Investments LLC acquired a new stake in shares of Arch Capital Group during the first quarter worth $38,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wells Fargo & Company reduced their target price on Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Barclays began coverage on shares of Arch Capital Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 target price for the company. Roth Mkm increased their price target on shares of Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Bank of America lowered their price objective on shares of Arch Capital Group from $119.00 to $118.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Arch Capital Group from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $113.73.

Arch Capital Group Trading Up 0.7 %

ACGL opened at $113.41 on Friday. The firm’s 50 day moving average is $105.74 and its 200-day moving average is $99.75. Arch Capital Group Ltd. has a 52-week low of $72.85 and a 52-week high of $114.69. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $42.65 billion, a P/E ratio of 8.95, a P/E/G ratio of 2.06 and a beta of 0.60.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.36. The firm had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.92 EPS. Analysts expect that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the sale, the chief financial officer now owns 221,779 shares in the company, valued at approximately $22,723,476.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.20% of the company’s stock.

Arch Capital Group Company Profile

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.