Forsta AP Fonden Raises Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Forsta AP Fonden lifted its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 65.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,500 shares of the insurance provider’s stock after acquiring an additional 43,600 shares during the quarter. Forsta AP Fonden’s holdings in Arch Capital Group were worth $10,215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Capital World Investors increased its position in shares of Arch Capital Group by 0.6% during the fourth quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock valued at $788,086,000 after acquiring an additional 58,862 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Arch Capital Group by 11.4% during the first quarter. Principal Financial Group Inc. now owns 6,800,236 shares of the insurance provider’s stock valued at $628,614,000 after acquiring an additional 693,608 shares during the last quarter. Davis Asset Management L.P. increased its position in shares of Arch Capital Group by 441.7% during the fourth quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock valued at $482,755,000 after acquiring an additional 5,300,000 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Arch Capital Group by 1.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock valued at $546,054,000 after acquiring an additional 99,329 shares during the last quarter. Finally, Norges Bank purchased a new stake in Arch Capital Group in the fourth quarter worth $309,496,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Stock Down 0.5 %

Shares of NASDAQ:ACGL opened at $96.50 on Monday. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $103.79. The company has a market cap of $36.23 billion, a PE ratio of 7.62, a P/E/G ratio of 1.61 and a beta of 0.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.59. The stock’s 50-day moving average is $100.00 and its 200 day moving average is $91.18.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the business earned $1.73 EPS. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. Sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.58 EPS for the current year.

Insiders Place Their Bets

In other Arch Capital Group news, CEO David Gansberg sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $96.64, for a total transaction of $966,400.00. Following the transaction, the chief executive officer now owns 228,035 shares in the company, valued at approximately $22,037,302.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on ACGL shares. StockNews.com raised Arch Capital Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 4th. Deutsche Bank Aktiengesellschaft raised 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. JMP Securities raised their target price on Arch Capital Group from $100.00 to $110.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 30th. Evercore ISI raised their target price on Arch Capital Group from $98.00 to $100.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 30th. Finally, Roth Mkm reiterated a “buy” rating and set a $110.00 price objective on shares of Arch Capital Group in a research note on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.87.

Arch Capital Group 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.