Empirical Asset Management LLC Buys New Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Empirical Asset Management LLC purchased a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,077 shares of the insurance provider’s stock, valued at approximately $904,000.

A number of other large investors also recently modified their holdings of ACGL. Vanguard Group Inc. lifted its stake in shares of Arch Capital Group by 0.3% during the first quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock worth $3,776,996,000 after purchasing an additional 104,008 shares in the last quarter. Principal Financial Group Inc. lifted its position in Arch Capital Group by 4.4% during the 2nd quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock worth $716,415,000 after acquiring an additional 300,716 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Arch Capital Group by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock worth $546,054,000 after acquiring an additional 99,329 shares during the period. Capital International Investors grew its position in Arch Capital Group by 61.1% in the first 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Arch Capital Group by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock valued at $396,026,000 after purchasing an additional 244,285 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ACGL has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, July 1st. Evercore ISI raised their target price on Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Wells Fargo & Company boosted their price target on Arch Capital Group from $110.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Bank of America raised their price objective on Arch Capital Group from $119.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Roth Mkm upped their target price on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Arch Capital Group currently has a consensus rating of “Moderate Buy” and an average target price of $118.87.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL opened at $111.09 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $109.21 and its two-hundred day moving average price is $101.51. Arch Capital Group Ltd. has a 52-week low of $72.85 and a 52-week high of $116.47. The stock has a market capitalization of $41.71 billion, a P/E ratio of 8.77, a P/E/G ratio of 2.03 and a beta of 0.59.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.92 EPS. As a group, sell-side analysts forecast that Arch Capital Group Ltd. will post 9.11 earnings per share for the current year.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $22,723,476.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.20% of the company’s stock.

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.