Lazard Asset Management LLC Purchases 19,364 Shares of Arch Capital Group Ltd. $ACGL

Lazard Asset Management LLC raised its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 213.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,431 shares of the insurance provider’s stock after buying an additional 19,364 shares during the quarter. Lazard Asset Management LLC’s holdings in Arch Capital Group were worth $2,729,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Elyxium Wealth LLC purchased a new position in shares of Arch Capital Group in the 4th quarter worth approximately $27,000. WealthCollab LLC lifted its position in Arch Capital Group by 410.3% during the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 238 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in Arch Capital Group in the third quarter valued at approximately $28,000. TD Waterhouse Canada Inc. boosted its stake in Arch Capital Group by 72.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 136 shares in the last quarter. Finally, Zions Bancorporation National Association UT grew its holdings in Arch Capital Group by 390.9% in the fourth quarter. Zions Bancorporation National Association UT now owns 324 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 258 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Transactions 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 stock was sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings downgraded Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Atlantic Securities set a $126.00 price objective on Arch Capital Group in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods dropped their target price on Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $102.00 target price (up from $100.00) on shares of Arch Capital Group in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $120.00 price target (up from $115.00) on shares of Arch Capital Group in a research note on Thursday. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $110.39.

Arch Capital Group Trading Down 0.6%

NASDAQ ACGL opened at $100.53 on Friday. The company has a fifty day simple moving average of $96.51 and a two-hundred day simple moving average of $96.10. The stock has a market cap of $35.12 billion, a P/E ratio of 7.86, a P/E/G ratio of 10.64 and a beta of 0.31. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $107.08. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 0.23.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.47 by $0.09. The business had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $4.36 billion. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. During the same period in the previous year, the firm posted $2.58 earnings per share. On average, analysts forecast that Arch Capital Group Ltd. will post 9.36 earnings per share for the current year.

Arch Capital Group 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.