Allstate Corp Raises Holdings in Arch Capital Group Ltd. $ACGL

Allstate Corp raised its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 113.8% during the 4th quarter, Holdings Channel reports. The firm owned 27,407 shares of the insurance provider’s stock after buying an additional 14,586 shares during the quarter. Allstate Corp’s holdings in Arch Capital Group were worth $2,629,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Elyxium Wealth LLC acquired a new stake in Arch Capital Group in the fourth quarter valued at approximately $27,000. WealthCollab LLC lifted its position in shares of Arch Capital Group by 410.3% in the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 238 shares in the last quarter. JPL Wealth Management LLC purchased a new position in shares of Arch Capital Group in the third quarter valued at approximately $28,000. Aventura Private Wealth LLC purchased a new position in shares of Arch Capital Group in the fourth quarter valued at approximately $30,000. Finally, Grove Bank & Trust purchased a new position in shares of Arch Capital Group in the fourth quarter valued at approximately $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Stock Performance

Shares of Arch Capital Group stock opened at $91.40 on Thursday. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $103.39. The company has a market cap of $31.93 billion, a price-to-earnings ratio of 7.02, a PEG ratio of 5.25 and a beta of 0.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 0.55. The business’s 50 day moving average price is $95.43 and its 200 day moving average price is $95.17.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The firm had revenue of $4.52 billion for the quarter. On average, research analysts predict that Arch Capital Group Ltd. will post 9.27 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, April 20th. Citigroup raised their target price on Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a research report on Thursday, April 30th. Wells Fargo & Company raised 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 Thursday, April 30th. Barclays raised their target price on Arch Capital Group from $104.00 to $106.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods decreased their target price on Arch Capital Group from $105.00 to $102.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 5th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Arch Capital Group currently has a consensus rating of “Hold” and a consensus target price of $106.32.

Insider Buying and Selling

In other Arch Capital Group news, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $17.11, for a total transaction of $51,330.00. Following the completion of the sale, the director owned 2,000 shares of the company’s stock, valued at $34,220. This trade represents a 60.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicolas Papadopoulo sold 21,930 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $96.31, for a total value of $2,112,078.30. Following the sale, the chief executive officer directly owned 871,594 shares of the company’s stock, valued at approximately $83,943,218.14. This trade represents a 2.45% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 32,837 shares of company stock worth $2,766,946. 3.30% of the stock is owned by corporate insiders.

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.