Arch Capital Group Ltd. $ACGL Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 71.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,006 shares of the insurance provider’s stock after purchasing an additional 37,051 shares during the quarter. CIBC Asset Management Inc’s holdings in Arch Capital Group were worth $8,537,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ACGL. JPMorgan Chase & Co. lifted its holdings in Arch Capital Group by 4.6% in the third quarter. JPMorgan Chase & Co. now owns 8,190,927 shares of the insurance provider’s stock valued at $743,168,000 after acquiring an additional 360,626 shares during the period. Norges Bank acquired a new position in Arch Capital Group in the fourth quarter valued at approximately $463,208,000. Goldman Sachs Group Inc. lifted its holdings in Arch Capital Group by 5.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,949,978 shares of the insurance provider’s stock valued at $282,962,000 after acquiring an additional 160,326 shares during the period. Legal & General Group Plc lifted its holdings in Arch Capital Group by 4.3% in the fourth quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider’s stock valued at $282,405,000 after acquiring an additional 121,090 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Arch Capital Group by 409.5% in the third quarter. First Trust Advisors LP now owns 2,835,648 shares of the insurance provider’s stock valued at $257,278,000 after acquiring an additional 2,279,147 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Price Performance

ACGL stock opened at $91.19 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $31.86 billion, a P/E ratio of 7.00, a P/E/G ratio of 4.85 and a beta of 0.32. The business’s 50-day moving average is $94.86 and its two-hundred day moving average is $95.04. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $103.39.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. The company had revenue of $4.52 billion for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%. Analysts anticipate that Arch Capital Group Ltd. will post 9.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel Joseph Houston bought 5,300 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were acquired at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the transaction, the director directly owned 9,915 shares in the company, valued at approximately $932,803.20. This represents a 114.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 35,837 shares of company stock worth $2,825,926 over the last 90 days. Insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

ACGL has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their price target on Arch Capital Group from $105.00 to $102.00 and set a “market perform” rating for the company in a report on Tuesday, May 5th. Royal Bank Of Canada boosted their price target on Arch Capital Group from $108.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. Weiss Ratings downgraded Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Wells Fargo & Company boosted their price target on Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Mizuho decreased their price target on Arch Capital Group from $102.00 to $101.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $106.32.

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.