HM Payson & Co. Buys 1,123 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

HM Payson & Co. lifted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 93.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,323 shares of the insurance provider’s stock after purchasing an additional 1,123 shares during the quarter. HM Payson & Co.’s holdings in Arch Capital Group were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Davis Asset Management L.P. grew its holdings in Arch Capital Group by 441.7% during the 4th quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock worth $482,755,000 after acquiring an additional 5,300,000 shares during the last quarter. Norges Bank acquired a new position in shares of Arch Capital Group during the 4th quarter valued at $309,496,000. Capital International Investors lifted its position in shares of Arch Capital Group by 61.1% during the 1st 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 period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Arch Capital Group by 61.6% during the 4th 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 during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Arch Capital Group by 11.4% during the 1st 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 during the period. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Stock Down 2.7 %

Arch Capital Group stock traded down $2.64 on Monday, hitting $96.03. 728,626 shares of the stock traded hands, compared to its average volume of 1,677,058. The company has a current ratio of 0.60, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. The firm has a market cap of $36.06 billion, a P/E ratio of 8.01, a price-to-earnings-growth ratio of 1.81 and a beta of 0.58. The business’s fifty day simple moving average is $99.13 and its 200 day simple moving average is $93.33. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $103.79.

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. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.92 earnings per share. As a group, sell-side analysts forecast that Arch Capital Group Ltd. will post 8.75 earnings per share for the current year.

Analysts Set New Price Targets

ACGL has been the topic of a number of research reports. Wells Fargo & Company boosted their target price 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. Deutsche Bank Aktiengesellschaft upped 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. Morgan Stanley upped their price objective on shares of Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. JMP Securities upped their target price on shares of Arch Capital Group from $110.00 to $115.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI upped 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. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.53.

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.