Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Purchased by Davis Asset Management L.P.

Davis Asset Management L.P. raised its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 441.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,500,000 shares of the insurance provider’s stock after purchasing an additional 5,300,000 shares during the period. Arch Capital Group comprises approximately 19.5% of Davis Asset Management L.P.’s portfolio, making the stock its biggest holding. Davis Asset Management L.P. owned 1.74% of Arch Capital Group worth $482,755,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ACGL. Northern Trust Corp raised its position in shares of Arch Capital Group by 9.2% during the 3rd quarter. Northern Trust Corp now owns 4,652,983 shares of the insurance provider’s stock worth $370,889,000 after purchasing an additional 390,362 shares during the last quarter. Norges Bank acquired a new position in shares of Arch Capital Group in the fourth quarter worth $309,496,000. Dimensional Fund Advisors LP raised its holdings in shares of Arch Capital Group by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,518,822 shares of the insurance provider’s stock worth $261,339,000 after acquiring an additional 245,966 shares during the last quarter. Invesco Ltd. lifted its position in shares of Arch Capital Group by 16.3% in the third quarter. Invesco Ltd. now owns 3,385,665 shares of the insurance provider’s stock valued at $269,871,000 after acquiring an additional 475,464 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Arch Capital Group by 3.4% during the third quarter. Royal Bank of Canada now owns 3,151,688 shares of the insurance provider’s stock valued at $251,222,000 after acquiring an additional 104,299 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity at Arch Capital Group

In other news, CFO Francois Morin sold 25,689 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.47, for a total value of $2,247,016.83. Following the completion of the sale, the chief financial officer now owns 221,779 shares in the company, valued at $19,399,009.13. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Francois Morin sold 25,689 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at approximately $19,399,009.13. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Maamoun Rajeh sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the completion of the transaction, the chief executive officer now owns 336,170 shares in the company, valued at approximately $29,408,151.60. The disclosure for this sale can be found here. In the last three months, insiders sold 135,689 shares of company stock worth $11,872,217. Corporate insiders own 4.20% of the company’s stock.

Arch Capital Group Trading Down 0.7 %

Shares of NASDAQ ACGL traded down $0.63 during midday trading on Thursday, hitting $95.17. The stock had a trading volume of 1,458,021 shares, compared to its average volume of 1,734,877. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 1-year low of $69.05 and a 1-year high of $96.58. The company has a market capitalization of $35.70 billion, a price-to-earnings ratio of 7.49, a PEG ratio of 1.16 and a beta of 0.56. The company has a fifty day moving average price of $90.82 and a 200 day moving average price of $84.63.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.39. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the company posted $1.73 earnings per share. Arch Capital Group’s revenue was up 19.3% compared to the same quarter last year. On average, analysts predict that Arch Capital Group Ltd. will post 8.09 earnings per share for the current year.

Analyst Ratings Changes

ACGL has been the topic of a number of recent research reports. Morgan Stanley upped their target price on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Monday, April 15th. JMP Securities upped their price objective on shares of Arch Capital Group from $100.00 to $110.00 and gave the company a “market outperform” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Arch Capital Group from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday. TD Cowen initiated coverage on Arch Capital Group in a research note on Wednesday, January 10th. They set an “outperform” rating and a $96.00 price target on the stock. Finally, StockNews.com upgraded Arch Capital Group from a “hold” rating to a “buy” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $100.67.

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.