Arch Capital Group Ltd. $ACGL Holdings Raised by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lifted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 6.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,060,836 shares of the insurance provider’s stock after acquiring an additional 68,014 shares during the period. Lord Abbett & CO. LLC’s holdings in Arch Capital Group were worth $101,755,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc raised its stake in shares of Arch Capital Group by 4.3% during 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 purchasing an additional 121,090 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Arch Capital Group by 4.6% during the third quarter. JPMorgan Chase & Co. now owns 8,190,927 shares of the insurance provider’s stock valued at $743,168,000 after purchasing an additional 360,626 shares in the last quarter. NEOS Investment Management LLC raised its stake in shares of Arch Capital Group by 49.1% during the third quarter. NEOS Investment Management LLC now owns 49,652 shares of the insurance provider’s stock valued at $4,505,000 after purchasing an additional 16,343 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Arch Capital Group by 9.5% during the third quarter. Natixis Advisors LLC now owns 1,951,019 shares of the insurance provider’s stock valued at $177,016,000 after purchasing an additional 168,922 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of Arch Capital Group by 10.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 187,002 shares of the insurance provider’s stock valued at $18,024,000 after purchasing an additional 17,923 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arch Capital Group

In related news, Director Daniel Joseph Houston bought 5,300 shares of Arch Capital Group stock in a transaction dated Thursday, April 30th. The stock was acquired at an average cost of $94.08 per share, with a total value of $498,624.00. Following the completion of the acquisition, the director directly owned 9,915 shares in the company, valued at approximately $932,803.20. This trade represents a 114.84% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian S. Posner sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Arch Capital Group from $105.00 to $102.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 5th. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price objective (up from $97.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. Mizuho cut their price objective 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. Citigroup upped their price objective on Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. cut their price objective on Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, April 20th. 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 stock currently has an average rating of “Hold” and an average target price of $106.81.

Arch Capital Group Trading Up 0.6%

Shares of Arch Capital Group stock opened at $91.66 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.15. The firm has a market cap of $32.03 billion, a price-to-earnings ratio of 7.04, a price-to-earnings-growth ratio of 4.56 and a beta of 0.32. The business has a fifty day simple moving average of $94.45 and a 200-day simple moving average of $95.01. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $103.39.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. The business had revenue of $4.52 billion during the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%. On average, equities analysts forecast that Arch Capital Group Ltd. will post 9.3 EPS 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.