First Trust Direct Indexing L.P. Buys 1,185 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

First Trust Direct Indexing L.P. raised its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,805 shares of the insurance provider’s stock after buying an additional 1,185 shares during the period. First Trust Direct Indexing L.P.’s holdings in Arch Capital Group were worth $1,369,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Arcus Capital Partners LLC acquired a new stake in Arch Capital Group during the first quarter worth approximately $305,000. Norden Group LLC bought a new position in shares of Arch Capital Group during the 1st quarter worth approximately $431,000. Trust Co. of Oklahoma acquired a new stake in shares of Arch Capital Group during the 1st quarter worth approximately $318,000. Denali Advisors LLC bought a new stake in shares of Arch Capital Group in the 1st quarter valued at $214,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Arch Capital Group by 0.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,015,428 shares of the insurance provider’s stock valued at $93,866,000 after acquiring an additional 4,446 shares during the period. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ACGL. Evercore ISI lifted 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 note on Tuesday, April 30th. Roth Mkm reaffirmed a “buy” rating and issued a $110.00 target price on shares of Arch Capital Group in a research report on Tuesday, April 30th. JPMorgan Chase & Co. upped their price target on Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. JMP Securities boosted their price objective on Arch Capital Group from $100.00 to $110.00 and gave the company a “market outperform” rating in a report on Tuesday, April 30th. Finally, StockNews.com raised Arch Capital Group from a “hold” rating to a “buy” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Arch Capital Group currently has an average rating of “Moderate Buy” and a consensus price target of $102.00.

Insider Activity at Arch Capital Group

In related news, CEO David Gansberg sold 10,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 228,035 shares in the company, valued at $22,037,302.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.00% of the stock is owned by company insiders.

Arch Capital Group Stock Down 2.3 %

Shares of NASDAQ ACGL traded down $2.35 during trading on Thursday, hitting $97.65. The stock had a trading volume of 1,279,956 shares, compared to its average volume of 1,486,300. Arch Capital Group Ltd. has a 12 month low of $72.33 and a 12 month high of $103.79. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $36.67 billion, a PE ratio of 7.71, a PEG ratio of 1.71 and a beta of 0.58. The firm has a fifty day moving average of $99.42 and a two-hundred day moving average of $89.91.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.39. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.77 billion. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. As a group, equities research analysts forecast that Arch Capital Group Ltd. will post 8.55 EPS for the current fiscal year.

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.