Geode Capital Management LLC Purchases 115,465 Shares of Arch Capital Group Ltd. $ACGL

Geode Capital Management LLC boosted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,502,003 shares of the insurance provider’s stock after purchasing an additional 115,465 shares during the period. Geode Capital Management LLC owned about 2.80% of Arch Capital Group worth $952,523,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of Arch Capital Group during the first quarter worth approximately $399,651,000. JPMorgan Chase & Co. grew its position in Arch Capital Group by 30.5% during the 1st quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider’s stock worth $718,522,000 after acquiring an additional 1,743,945 shares during the last quarter. GQG Partners LLC acquired a new stake in Arch Capital Group during the 1st quarter valued at $71,769,000. Champlain Investment Partners LLC bought a new position in Arch Capital Group in the 1st quarter valued at $48,040,000. Finally, Amundi raised its position in Arch Capital Group by 32.3% in the 1st quarter. Amundi now owns 1,683,211 shares of the insurance provider’s stock valued at $162,060,000 after purchasing an additional 410,825 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Stock Up 1.1%

Arch Capital Group stock opened at $92.76 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.55 and a quick ratio of 0.56. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $102.37. The company’s 50 day simple moving average is $89.33 and its 200 day simple moving average is $90.43. The firm has a market capitalization of $33.64 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 3.24 and a beta of 0.47.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, topping the consensus estimate of $1.76 by $1.01. The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $4.39 billion. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.During the same period in the previous year, the company posted $1.99 earnings per share. As a group, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Wall Street Analyst Weigh In

ACGL has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on Arch Capital Group from $110.00 to $111.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. UBS Group restated a “buy” rating and issued a $118.00 price objective (down previously from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Cowen reaffirmed a “buy” rating on shares of Arch Capital Group in a research note on Monday, August 4th. Wolfe Research started coverage on shares of Arch Capital Group in a research note on Monday, September 15th. They set a “peer perform” rating on the stock. Finally, Keefe, Bruyette & Woods raised their price target on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a report on Thursday, August 14th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $109.00.

Insider Activity at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total transaction of $941,500.00. Following the sale, the insider directly owned 433,589 shares in the company, valued at $40,822,404.35. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.20% of the stock is currently owned by insiders.

About Arch Capital Group

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.