Asset One Wealth Management LLC Acquires New Holdings in Arch Capital Group Ltd. $ACGL

Asset One Wealth Management LLC acquired a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,951 shares of the insurance provider’s stock, valued at approximately $3,187,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ACGL. Norges Bank bought a new position in Arch Capital Group during the fourth quarter valued at approximately $463,208,000. First Trust Advisors LP raised its position 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 worth $257,278,000 after acquiring an additional 2,279,147 shares during the period. AQR Capital Management LLC raised its position in Arch Capital Group by 184.1% in the fourth quarter. AQR Capital Management LLC now owns 2,670,628 shares of the insurance provider’s stock worth $256,167,000 after acquiring an additional 1,730,487 shares during the period. Fiduciary Management Inc. WI bought a new position in Arch Capital Group in the fourth quarter worth approximately $106,683,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Arch Capital Group by 572.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,268,601 shares of the insurance provider’s stock worth $121,684,000 after acquiring an additional 1,080,049 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Arch Capital Group

In related news, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Joseph Houston bought 5,300 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average cost of $94.08 per share, with a total value of $498,624.00. Following the completion of the purchase, the director directly owned 9,915 shares of the company’s stock, valued at $932,803.20. This represents a 114.84% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barclays increased their price target on shares of Arch Capital Group from $104.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. Citigroup increased their price target on shares of Arch Capital Group from $120.00 to $122.50 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods decreased their price target on shares of 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. Weiss Ratings downgraded shares of Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Finally, Wells Fargo & Company increased their price target on shares of Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $106.81.

Arch Capital Group Stock Performance

ACGL opened at $92.37 on Thursday. The stock has a market capitalization of $32.27 billion, a price-to-earnings ratio of 7.09, a PEG ratio of 4.63 and a beta of 0.32. The company has a fifty day moving average of $94.18 and a 200 day moving average of $94.99. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $103.39. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 0.55.

Arch Capital Group (NASDAQ:ACGL) last posted its 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 during the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. As a group, sell-side analysts forecast that Arch Capital Group Ltd. will post 9.3 earnings per share for the current fiscal year.

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.