Y Intercept Hong Kong Ltd Raises Stock Holdings in Arch Capital Group Ltd. $ACGL

Y Intercept Hong Kong Ltd increased its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 87.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,206 shares of the insurance provider’s stock after acquiring an additional 9,415 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Arch Capital Group were worth $1,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ACGL. Quent Capital LLC purchased a new position in shares of Arch Capital Group in the third quarter worth $37,000. Richardson Financial Services Inc. lifted its stake in Arch Capital Group by 63.3% in the third quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 162 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Arch Capital Group by 3,450.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 414 shares during the last quarter. TD Waterhouse Canada Inc. grew its position in shares of Arch Capital Group by 31.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock worth $43,000 after buying an additional 112 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of Arch Capital Group in the 3rd quarter worth approximately $54,000. Institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Francois Morin sold 8,000 shares of the stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $94.62, for a total value of $756,960.00. Following the completion of the sale, the chief financial officer directly owned 266,681 shares of the company’s stock, valued at approximately $25,233,356.22. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John M. Pasquesi sold 8,800 shares of Arch Capital Group stock in a transaction on Monday, December 15th. The shares were sold at an average price of $94.17, for a total transaction of $828,696.00. Following the completion of the transaction, the insider directly owned 289,556 shares in the company, valued at $27,267,488.52. The trade was a 2.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 220,666 shares of company stock valued at $20,728,673. 4.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Arch Capital Group from $111.00 to $117.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Roth Mkm set a $110.00 price target on Arch Capital Group and gave the company a “buy” rating in a report on Tuesday, December 2nd. Morgan Stanley set a $125.00 price target on Arch Capital Group in a report on Friday, January 16th. The Goldman Sachs Group reiterated a “sell” rating and set a $93.00 price objective (up from $84.00) on shares of Arch Capital Group in a research note on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Arch Capital Group from $100.00 to $102.00 and gave the company a “market perform” rating in a research note on Tuesday, January 6th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $107.53.

Arch Capital Group Trading Up 1.6%

NASDAQ:ACGL opened at $95.72 on Friday. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $97.60. The stock has a fifty day moving average price of $93.88 and a 200 day moving average price of $91.11. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.13. The firm has a market cap of $34.71 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 1.98 and a beta of 0.45.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $1.01. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $4.39 billion. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. During the same period in the prior year, the firm posted $1.99 EPS. Sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

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.