CIBC Asset Management Inc Grows Position in Arch Capital Group Ltd. $ACGL

CIBC Asset Management Inc increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 71.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 89,006 shares of the insurance provider’s stock after buying an additional 37,051 shares during the quarter. CIBC Asset Management Inc’s holdings in Arch Capital Group were worth $8,537,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ACGL. Daymark Wealth Partners LLC grew its stake in shares of Arch Capital Group by 3.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 3,211 shares of the insurance provider’s stock valued at $308,000 after purchasing an additional 106 shares during the last quarter. Keel Point LLC grew its stake in shares of Arch Capital Group by 4.6% in the 3rd quarter. Keel Point LLC now owns 2,524 shares of the insurance provider’s stock valued at $229,000 after purchasing an additional 112 shares during the last quarter. Legacy Advisors LLC grew its stake in shares of Arch Capital Group by 1.2% in the 4th quarter. Legacy Advisors LLC now owns 9,551 shares of the insurance provider’s stock valued at $916,000 after purchasing an additional 112 shares during the last quarter. Compound Planning Inc. grew its stake in shares of Arch Capital Group by 5.0% in the 3rd quarter. Compound Planning Inc. now owns 2,644 shares of the insurance provider’s stock valued at $240,000 after purchasing an additional 127 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Arch Capital Group by 72.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Transactions at Arch Capital Group

In other news, CEO Nicolas Papadopoulo sold 21,930 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $96.31, for a total value of $2,112,078.30. Following the completion of the sale, the chief executive officer owned 871,594 shares of the company’s stock, valued at $83,943,218.14. This represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel Joseph Houston bought 5,300 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was bought at an average cost of $94.08 per share, with a total value of $498,624.00. Following the transaction, the director directly owned 9,915 shares of the company’s stock, valued at approximately $932,803.20. This trade represents a 114.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have sold 35,837 shares of company stock valued at $2,825,926. Insiders own 3.30% of the company’s stock.

Arch Capital Group Stock Performance

Shares of NASDAQ:ACGL opened at $91.19 on Friday. The firm has a market capitalization of $31.86 billion, a PE ratio of 7.00, a P/E/G ratio of 4.85 and a beta of 0.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55. The business has a 50-day moving average of $94.86 and a two-hundred day moving average of $95.04. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $103.39.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. The company 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%. As a group, research analysts forecast that Arch Capital Group Ltd. will post 9.29 earnings per share for the current year.

Analysts Set New Price Targets

ACGL has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Wells Fargo & Company lifted their price target on Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Barclays lifted their price target on Arch Capital Group from $104.00 to $106.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Morgan Stanley set a $105.00 price target on Arch Capital Group in a research note on Friday, May 1st. Finally, Citigroup lifted their price target on Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a research note on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $106.32.

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.