Deltec Asset Management LLC Invests $593,000 in Arch Capital Group Ltd. (NASDAQ:ACGL)

Deltec Asset Management LLC purchased a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,420 shares of the insurance provider’s stock, valued at approximately $593,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Householder Group Estate & Retirement Specialist LLC bought a new position in Arch Capital Group during the 4th quarter worth about $27,000. Larson Financial Group LLC bought a new position in Arch Capital Group during the 4th quarter worth about $30,000. Richardson Financial Services Inc. bought a new position in Arch Capital Group during the 4th quarter worth about $33,000. CVA Family Office LLC purchased a new stake in shares of Arch Capital Group during the fourth quarter valued at about $47,000. Finally, Indiana Trust & Investment Management CO purchased a new stake in shares of Arch Capital Group during the first quarter valued at about $58,000. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Price Performance

Arch Capital Group stock traded down $0.13 during trading on Friday, reaching $100.89. The company had a trading volume of 3,818,454 shares, compared to its average volume of 1,822,836. The firm’s 50-day simple moving average is $99.07 and its 200 day simple moving average is $89.41. Arch Capital Group Ltd. has a 1-year low of $71.69 and a 1-year high of $103.79. The firm has a market capitalization of $37.88 billion, a PE ratio of 7.96, a price-to-earnings-growth ratio of 1.73 and a beta of 0.60. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 0.59.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the firm earned $1.73 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Arch Capital Group Ltd. will post 8.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Evercore ISI increased their price target on shares of Arch Capital Group from $98.00 to $100.00 and gave the company an “in-line” rating in a research report on Tuesday, April 30th. Bank of America increased their price target on shares of Arch Capital Group from $109.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Morgan Stanley increased their price target on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Wells Fargo & Company increased their price objective on shares of Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Arch Capital Group from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.33.

Insider Transactions at Arch Capital Group

In other news, CEO David Gansberg sold 10,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $96.64, for a total transaction of $966,400.00. Following the completion of the sale, the chief executive officer now owns 228,035 shares of the company’s stock, valued at $22,037,302.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.20% of the company’s stock.

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.