First Trust Direct Indexing L.P. Boosts Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

First Trust Direct Indexing L.P. raised its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.6% in the third quarter, Holdings Channel reports. The institutional investor owned 17,124 shares of the insurance provider’s stock after buying an additional 270 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Arch Capital Group were worth $1,916,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. purchased a new position in shares of Arch Capital Group during the second quarter worth about $30,000. Baldwin Brothers LLC MA grew its holdings in shares of Arch Capital Group by 50.7% during the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 104 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Arch Capital Group during the second quarter worth about $35,000. LRI Investments LLC purchased a new position in shares of Arch Capital Group during the first quarter worth about $38,000. Finally, Versant Capital Management Inc grew its holdings in shares of Arch Capital Group by 40.3% during the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Arch Capital Group from $110.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. JMP Securities boosted their target price on Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 15th. Evercore ISI boosted their target price on Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Barclays began coverage on Arch Capital Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 target price for the company. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.53.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 11,460 shares of the company’s stock in a transaction that occurred 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 owns 221,779 shares in the company, valued at $22,723,476.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is owned by corporate insiders.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $105.14 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.60 and a current ratio of 0.60. Arch Capital Group Ltd. has a fifty-two week low of $72.85 and a fifty-two week high of $116.47. The stock has a 50 day moving average price of $110.85 and a two-hundred day moving average price of $102.69. The company has a market capitalization of $39.54 billion, a P/E ratio of 7.39, a PEG ratio of 1.95 and a beta of 0.59.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.92 earnings per share. Analysts expect that Arch Capital Group Ltd. will post 9.06 earnings per share for the current 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.