First Hawaiian Bank Grows Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

First Hawaiian Bank raised its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 22.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 12,502 shares of the insurance provider’s stock after purchasing an additional 2,310 shares during the period. First Hawaiian Bank’s holdings in Arch Capital Group were worth $1,261,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Larson Financial Group LLC purchased a new position in Arch Capital Group in the fourth quarter valued at $30,000. LRI Investments LLC purchased a new stake in Arch Capital Group during the 1st quarter worth about $40,000. Richardson Financial Services Inc. acquired a new stake in shares of Arch Capital Group during the 4th quarter worth about $33,000. Indiana Trust & Investment Management CO acquired a new position in Arch Capital Group in the first quarter valued at approximately $58,000. Finally, Quarry LP purchased a new stake in shares of Arch Capital Group during the 4th quarter worth approximately $60,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on ACGL. JMP Securities raised their price objective on Arch Capital Group from $110.00 to $115.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 31st. 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 Wednesday, May 1st. Bank of America decreased their target price on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Evercore ISI lifted their target price on shares of Arch Capital Group from $100.00 to $104.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Arch Capital Group from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.53.

Arch Capital Group Stock Performance

NASDAQ:ACGL traded up $1.51 during mid-day trading on Tuesday, hitting $97.57. 496,967 shares of the stock were exchanged, compared to its average volume of 1,681,666. The firm’s 50-day simple moving average is $98.98 and its 200 day simple moving average is $93.45. The stock has a market capitalization of $36.64 billion, a price-to-earnings ratio of 7.58, a price-to-earnings-growth ratio of 1.81 and a beta of 0.58. Arch Capital Group Ltd. has a fifty-two week low of $72.85 and a fifty-two week high of $103.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 0.60.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.21 by $0.36. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the business earned $1.92 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. As a group, equities analysts anticipate that Arch Capital Group Ltd. will post 8.75 EPS for the current fiscal year.

Arch Capital Group 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; 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.