Denali Advisors LLC Raises Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Denali Advisors LLC boosted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 207.6% in the second quarter, HoldingsChannel.com reports. The fund owned 7,120 shares of the insurance provider’s stock after purchasing an additional 4,805 shares during the period. Denali Advisors LLC’s holdings in Arch Capital Group were worth $718,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Arch Capital Group during the 4th quarter worth about $309,496,000. Capital International Investors raised its holdings in shares of Arch Capital Group by 61.1% during the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after acquiring an additional 1,560,173 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Arch Capital Group by 61.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock valued at $237,017,000 after acquiring an additional 1,216,080 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Arch Capital Group by 11.4% in the first quarter. Principal Financial Group Inc. now owns 6,800,236 shares of the insurance provider’s stock valued at $628,614,000 after acquiring an additional 693,608 shares in the last quarter. Finally, Gladstone Capital Management LLP increased its position in shares of Arch Capital Group by 52.8% during the fourth quarter. Gladstone Capital Management LLP now owns 1,385,307 shares of the insurance provider’s stock worth $102,887,000 after purchasing an additional 478,570 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at $22,723,476.34. The transaction was disclosed in a document filed with the SEC, which is available at this link. 4.20% of the stock is owned by corporate insiders.

Arch Capital Group Stock Down 0.2 %

Shares of NASDAQ:ACGL opened at $113.96 on Wednesday. The company has a market capitalization of $42.86 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 2.00 and a beta of 0.60. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $114.69. The business has a 50-day moving average price of $102.90 and a 200 day moving average price of $98.33. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.89 billion. During the same period last year, the business earned $1.92 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts expect that Arch Capital Group Ltd. will post 9.01 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on ACGL shares. Royal Bank of Canada raised their price objective on Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. JMP Securities boosted their price target on shares of Arch Capital Group from $110.00 to $115.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods increased their price objective on shares of Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Barclays began coverage on Arch Capital Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 target price on the stock. Finally, StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Arch Capital Group has an average rating of “Moderate Buy” and an average price target of $110.93.

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; 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.