KLP Kapitalforvaltning AS Acquires 4,600 Shares of Arch Capital Group Ltd. $ACGL

KLP Kapitalforvaltning AS grew its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 172,341 shares of the insurance provider’s stock after acquiring an additional 4,600 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Arch Capital Group were worth $15,692,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ACGL. Farther Finance Advisors LLC increased its holdings in shares of Arch Capital Group by 324.1% in the first quarter. Farther Finance Advisors LLC now owns 4,033 shares of the insurance provider’s stock worth $388,000 after acquiring an additional 3,082 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Arch Capital Group by 13.5% in the first quarter. GAMMA Investing LLC now owns 8,382 shares of the insurance provider’s stock worth $806,000 after acquiring an additional 998 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of Arch Capital Group in the first quarter worth about $2,854,000. SG Americas Securities LLC increased its holdings in shares of Arch Capital Group by 977.2% in the first quarter. SG Americas Securities LLC now owns 94,526 shares of the insurance provider’s stock worth $9,092,000 after acquiring an additional 85,751 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Arch Capital Group by 5.8% in the first quarter. Assenagon Asset Management S.A. now owns 36,507 shares of the insurance provider’s stock worth $3,511,000 after acquiring an additional 2,003 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL opened at $93.10 on Thursday. The stock has a 50 day moving average price of $90.42 and a 200 day moving average price of $91.13. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.40. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $34.75 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 5.74 and a beta of 0.47.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.30 by $0.28. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.The firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the prior year, the firm posted $2.57 earnings per share. Analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ACGL. Keefe, Bruyette & Woods upped their price objective on Arch Capital Group from $102.00 to $103.00 and gave the stock a “market perform” rating in a research report on Thursday, August 14th. Wells Fargo & Company upped their price objective on Arch Capital Group from $107.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays set a $99.00 price objective on Arch Capital Group and gave the stock an “equal weight” rating in a research report on Wednesday. Cantor Fitzgerald raised Arch Capital Group to a “hold” rating in a research report on Wednesday, August 13th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arch Capital Group in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.31.

Insider Buying and Selling

In related news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the transaction, the insider directly owned 433,589 shares of the company’s stock, valued at approximately $40,822,404.35. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.20% of the company’s stock.

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.