JPMorgan Chase & Co. Grows Stake in Arch Capital Group Ltd. $ACGL

JPMorgan Chase & Co. boosted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,190,927 shares of the insurance provider’s stock after buying an additional 360,626 shares during the period. JPMorgan Chase & Co.’s holdings in Arch Capital Group were worth $743,168,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Bridges Investment Management Inc. purchased a new stake in shares of Arch Capital Group in the third quarter worth about $1,413,000. Allianz Asset Management GmbH increased its stake in Arch Capital Group by 12.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 192,567 shares of the insurance provider’s stock worth $17,472,000 after acquiring an additional 21,323 shares during the last quarter. WCM Investment Management LLC increased its stake in Arch Capital Group by 1.3% in the 3rd quarter. WCM Investment Management LLC now owns 13,525,402 shares of the insurance provider’s stock worth $1,214,987,000 after acquiring an additional 171,693 shares during the last quarter. High Ground Investment Management LLP raised its holdings in shares of Arch Capital Group by 3.5% during the 3rd quarter. High Ground Investment Management LLP now owns 1,714,668 shares of the insurance provider’s stock worth $155,572,000 after acquiring an additional 58,151 shares in the last quarter. Finally, Cooke & Bieler LP bought a new position in shares of Arch Capital Group during the 3rd quarter valued at approximately $210,856,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Price Performance

Shares of ACGL stock opened at $98.88 on Wednesday. The stock’s 50-day moving average is $95.42 and its 200 day moving average is $92.13. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $103.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.53 and a quick ratio of 0.55. The company has a market cap of $35.86 billion, a P/E ratio of 8.51, a PEG ratio of 3.94 and a beta of 0.42.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Monday, February 9th. The insurance provider reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.64. Arch Capital Group had a return on equity of 16.73% and a net margin of 22.07%.The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the business earned $2.26 EPS. Research analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insider Activity

In other Arch Capital Group news, insider Maamoun Rajeh sold 47,430 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $96.12, for a total transaction of $4,558,971.60. Following the sale, the insider owned 433,589 shares of the company’s stock, valued at approximately $41,676,574.68. The trade was a 9.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John M. Pasquesi sold 203,866 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $93.90, for a total transaction of $19,143,017.40. Following the sale, 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 268,096 shares of company stock worth $25,287,645 over the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ACGL shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $104.00 price target (up previously from $102.00) on shares of Arch Capital Group in a report on Thursday, February 12th. Wells Fargo & Company lifted their target price on Arch Capital Group from $106.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. Mizuho increased their price target on Arch Capital Group from $95.00 to $102.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Morgan Stanley set a $125.00 price target on Arch Capital Group in a research report on Friday, January 16th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price objective (up previously from $97.00) on shares of Arch Capital Group in a research report on Tuesday. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $109.20.

Arch Capital Group Company Profile

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.