Eaton Vance Management Purchases 527,683 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Eaton Vance Management increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 41.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,811,200 shares of the insurance provider’s stock after purchasing an additional 527,683 shares during the period. Eaton Vance Management owned about 0.45% of Arch Capital Group worth $65,330,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Resonant Capital Advisors LLC raised its holdings in shares of Arch Capital Group by 4.2% in the fourth quarter. Resonant Capital Advisors LLC now owns 10,262 shares of the insurance provider’s stock valued at $370,000 after buying an additional 410 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Arch Capital Group by 121.4% during the 4th quarter. Bessemer Group Inc. now owns 797 shares of the insurance provider’s stock worth $29,000 after buying an additional 437 shares during the period. LPL Financial LLC grew its position in shares of Arch Capital Group by 6.3% during the 3rd quarter. LPL Financial LLC now owns 10,042 shares of the insurance provider’s stock worth $294,000 after buying an additional 592 shares during the period. Advisors Asset Management Inc. grew its position in shares of Arch Capital Group by 8.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 9,091 shares of the insurance provider’s stock worth $266,000 after buying an additional 715 shares during the period. Finally, Sunbelt Securities Inc. grew its position in shares of Arch Capital Group by 6.4% during the 4th quarter. Sunbelt Securities Inc. now owns 12,909 shares of the insurance provider’s stock worth $466,000 after buying an additional 777 shares during the period. Institutional investors and hedge funds own 78.33% of the company’s stock.

ACGL has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Arch Capital Group from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, March 29th. JMP Securities upgraded Arch Capital Group from a “market perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a research report on Tuesday, January 19th. JPMorgan Chase & Co. boosted their price objective on Arch Capital Group from $30.00 to $36.00 and gave the company a “neutral” rating in a research report on Monday, January 4th. Finally, Credit Suisse Group boosted their price objective on Arch Capital Group from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, January 11th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Arch Capital Group presently has a consensus rating of “Buy” and an average target price of $38.30.

Shares of Arch Capital Group stock opened at $39.93 on Wednesday. Arch Capital Group Ltd. has a 12-month low of $20.93 and a 12-month high of $40.01. The stock has a market cap of $16.10 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.15 and a beta of 0.80. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $36.99 and its 200-day moving average is $33.98.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, February 8th. The insurance provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.18. Arch Capital Group had a return on equity of 5.80% and a net margin of 15.08%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the prior year, the business posted $0.74 EPS. The business’s revenue was up 20.8% compared to the same quarter last year. On average, sell-side analysts expect that Arch Capital Group Ltd. will post 1.33 EPS for the current year.

Arch Capital Group Company Profile

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; collateral protection, debt cancellation, and service contract reimbursement products; 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.

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

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