Bridgewater Associates LP Buys 50,671 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Bridgewater Associates LP grew its stake in Arch Capital Group Ltd. (NASDAQ:ACGLGet Rating) by 51.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 148,955 shares of the insurance provider’s stock after acquiring an additional 50,671 shares during the quarter. Bridgewater Associates LP’s holdings in Arch Capital Group were worth $6,776,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ACGL. James Investment Research Inc. bought a new stake in Arch Capital Group in the second quarter worth $34,000. CoreCap Advisors LLC bought a new position in shares of Arch Capital Group during the second quarter valued at $42,000. Covestor Ltd lifted its holdings in shares of Arch Capital Group by 4,956.5% during the first quarter. Covestor Ltd now owns 1,163 shares of the insurance provider’s stock valued at $56,000 after purchasing an additional 1,140 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Arch Capital Group by 159.0% during the first quarter. Steward Partners Investment Advisory LLC now owns 1,225 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 752 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its holdings in shares of Arch Capital Group by 1,172.2% during the first quarter. Zions Bancorporation N.A. now owns 1,374 shares of the insurance provider’s stock valued at $67,000 after purchasing an additional 1,266 shares in the last quarter. 87.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ACGL has been the topic of a number of research analyst reports. StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a report on Friday, November 4th. Jefferies Financial Group lowered their price target on Arch Capital Group from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, October 7th. Morgan Stanley upped their price target on Arch Capital Group from $52.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday. Wells Fargo & Company upped their price target on Arch Capital Group from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Friday, October 28th. Finally, Barclays upped their price target on Arch Capital Group from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, October 28th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.75.

Arch Capital Group Stock Up 0.5 %

Arch Capital Group stock opened at $58.05 on Thursday. The stock has a market cap of $21.47 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.44 and a beta of 0.78. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.59 and a current ratio of 0.59. Arch Capital Group Ltd. has a one year low of $40.24 and a one year high of $59.14. The stock has a fifty day moving average of $50.69 and a 200 day moving average of $47.22.

Arch Capital Group (NASDAQ:ACGLGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The insurance provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Arch Capital Group had a return on equity of 13.16% and a net margin of 13.89%. Arch Capital Group’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. As a group, sell-side analysts predict that Arch Capital Group Ltd. will post 4.02 EPS for the current year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CEO Maamoun Rajeh sold 50,000 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $57.09, for a total value of $2,854,500.00. Following the completion of the sale, the chief executive officer now owns 362,990 shares in the company, valued at $20,723,099.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Brian S. Posner purchased 2,000 shares of Arch Capital Group stock in a transaction on Friday, October 28th. The stock was acquired at an average price of $17.60 per share, for a total transaction of $35,200.00. Following the completion of the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $70,400. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Maamoun Rajeh sold 50,000 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $57.09, for a total value of $2,854,500.00. Following the completion of the sale, the chief executive officer now owns 362,990 shares of the company’s stock, valued at approximately $20,723,099.10. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

Arch Capital Group Profile

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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; collateral protection, debt cancellation, and service contract reimbursement products; 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.

See Also

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Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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