Arrowstreet Capital Limited Partnership Raises Position in Arch Capital Group Ltd. $ACGL

Arrowstreet Capital Limited Partnership grew its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 50.6% in the first quarter, HoldingsChannel reports. The fund owned 1,910,063 shares of the insurance provider’s stock after purchasing an additional 641,462 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Arch Capital Group were worth $183,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Daymark Wealth Partners LLC lifted its position in Arch Capital Group by 3.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 3,211 shares of the insurance provider’s stock valued at $308,000 after purchasing an additional 106 shares in the last quarter. Legacy Advisors LLC raised its stake in shares of Arch Capital Group by 1.2% in the fourth quarter. Legacy Advisors LLC now owns 9,551 shares of the insurance provider’s stock worth $916,000 after buying an additional 112 shares during the period. Twin Capital Management Inc. raised its stake in shares of Arch Capital Group by 1.4% in the first quarter. Twin Capital Management Inc. now owns 8,177 shares of the insurance provider’s stock worth $785,000 after buying an additional 116 shares during the period. V Square Quantitative Management LLC lifted its position in shares of Arch Capital Group by 1.3% during the 1st quarter. V Square Quantitative Management LLC now owns 9,453 shares of the insurance provider’s stock valued at $907,000 after buying an additional 123 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Arch Capital Group by 72.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider’s stock valued at $31,000 after buying an additional 136 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Price Performance

NASDAQ:ACGL opened at $103.36 on Friday. The firm has a market capitalization of $36.11 billion, a price-to-earnings ratio of 7.94, a PEG ratio of 4.99 and a beta of 0.31. 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 business has a 50 day simple moving average of $95.81 and a 200-day simple moving average of $95.81. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $105.09.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share 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%. Equities analysts forecast that Arch Capital Group Ltd. will post 9.34 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ACGL shares. Morgan Stanley increased their target price on shares of Arch Capital Group from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Citigroup lifted their price target on shares of Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a report on Thursday, April 30th. Cantor Fitzgerald reissued a “neutral” rating and issued a $102.00 price objective (up from $100.00) on shares of Arch Capital Group in a research note on Thursday, July 9th. Wells Fargo & Company increased their price objective on shares of Arch Capital Group from $110.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $109.82.

Insiders Place Their Bets

In other news, Director Daniel Joseph Houston bought 5,300 shares of the stock in a transaction dated Thursday, April 30th. The stock was purchased at an average price of $94.08 per share, for a total transaction of $498,624.00. Following the acquisition, the director owned 9,915 shares of the company’s stock, valued at $932,803.20. The trade was a 114.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian S. Posner sold 3,000 shares of Arch Capital Group 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 SEC filing for this sale provides additional information. Insiders own 3.30% of the company’s stock.

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.