Arch Capital Group Ltd. $ACGL Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH raised its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 12.5% during the third quarter, HoldingsChannel reports. The firm owned 192,567 shares of the insurance provider’s stock after buying an additional 21,323 shares during the quarter. Allianz Asset Management GmbH’s holdings in Arch Capital Group were worth $17,472,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Quent Capital LLC purchased a new stake in Arch Capital Group during the 3rd quarter worth about $37,000. Richardson Financial Services Inc. raised its position in shares of Arch Capital Group by 63.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 162 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Arch Capital Group by 3,450.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 414 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in Arch Capital Group by 31.4% during the second quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 112 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in Arch Capital Group in the third quarter valued at approximately $54,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $100.95 on Friday. The stock has a market capitalization of $36.61 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 2.12 and a beta of 0.42. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $103.39. The stock’s 50-day moving average price is $94.57 and its 200 day moving average price is $91.55. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.13.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Arch Capital Group from $100.00 to $102.00 and gave the stock a “market perform” rating in a report on Tuesday, January 6th. Evercore set a $100.00 price target on shares of Arch Capital Group and gave the stock an “in-line” rating in a research note on Wednesday, January 7th. Weiss Ratings raised shares of Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Royal Bank Of Canada set a $108.00 price objective on Arch Capital Group and gave the stock an “outperform” rating in a report on Monday, November 24th. Finally, JPMorgan Chase & Co. lifted their price target on Arch Capital Group from $111.00 to $117.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $107.53.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, insider John M. Pasquesi sold 203,866 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $93.90, for a total transaction of $19,143,017.40. Following the transaction, the insider directly owned 351,356 shares in the company, valued at approximately $32,992,328.40. This represents a 36.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Francois Morin sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $94.62, for a total value of $756,960.00. Following the completion of the transaction, the chief financial officer directly owned 266,681 shares of the company’s stock, valued at $25,233,356.22. The trade was a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 220,666 shares of company stock worth $20,728,673 over the last three months. 4.20% of the stock is currently owned by corporate insiders.

About Arch Capital Group

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.