OVERSEA CHINESE BANKING Corp Ltd Has $1.05 Million Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGLFree Report) by 73.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,198 shares of the insurance provider’s stock after acquiring an additional 5,991 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Arch Capital Group were worth $1,054,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. WCM Investment Management LLC bought a new stake in shares of Arch Capital Group during the first quarter worth $866,650,000. Norges Bank acquired a new position in shares of Arch Capital Group during the fourth quarter worth approximately $207,242,000. Morgan Stanley grew its stake in shares of Arch Capital Group by 116.3% during the fourth quarter. Morgan Stanley now owns 3,585,197 shares of the insurance provider’s stock valued at $225,079,000 after purchasing an additional 1,927,830 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Arch Capital Group by 112.4% in the third quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider’s stock valued at $208,905,000 after purchasing an additional 1,387,072 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Arch Capital Group by 49.0% in the second quarter. Goldman Sachs Group Inc. now owns 3,859,630 shares of the insurance provider’s stock valued at $288,893,000 after purchasing an additional 1,269,730 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Francois Morin sold 25,689 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.47, for a total value of $2,247,016.83. Following the completion of the transaction, the chief financial officer now owns 221,779 shares of the company’s stock, valued at $19,399,009.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Nicolas Papadopoulo sold 60,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.52, for a total value of $5,251,200.00. Following the completion of the transaction, the insider now directly owns 651,931 shares of the company’s stock, valued at $57,057,001.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Francois Morin sold 25,689 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at $19,399,009.13. The disclosure for this sale can be found here. Insiders sold a total of 135,689 shares of company stock valued at $11,872,217 in the last quarter. 4.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Morgan Stanley upped their target price on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. UBS Group lowered their price target on shares of Arch Capital Group from $101.00 to $97.00 and set a “buy” rating for the company in a research report on Wednesday, January 10th. JPMorgan Chase & Co. boosted their price target on shares of Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, TD Cowen started coverage on shares of Arch Capital Group in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $96.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.23.

View Our Latest Analysis on ACGL

Arch Capital Group Stock Up 1.7 %

Shares of ACGL stock opened at $92.93 on Monday. Arch Capital Group Ltd. has a 12-month low of $69.05 and a 12-month high of $95.01. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average of $89.55 and a 200-day moving average of $84.05. The company has a market capitalization of $34.86 billion, a price-to-earnings ratio of 8.00, a P/E/G ratio of 1.16 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGLGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The insurance provider reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.55. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.67 billion. Arch Capital Group had a return on equity of 21.94% and a net margin of 32.59%. During the same quarter last year, the business posted $2.14 EPS. As a group, equities research analysts predict that Arch Capital Group Ltd. will post 8.03 earnings per share for the current fiscal year.

Arch Capital Group Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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