KLP Kapitalforvaltning AS Invests $15.32 Million in Arch Capital Group Ltd. (NASDAQ:ACGL)

KLP Kapitalforvaltning AS bought a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 165,841 shares of the insurance provider’s stock, valued at approximately $15,315,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ACGL. Principal Financial Group Inc. increased its position in shares of Arch Capital Group by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock worth $832,246,000 after purchasing an additional 337,786 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Arch Capital Group by 9.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 9,980 shares of the insurance provider’s stock worth $1,117,000 after purchasing an additional 890 shares during the last quarter. Moors & Cabot Inc. bought a new stake in shares of Arch Capital Group in the 3rd quarter worth about $250,000. Eagle Asset Management Inc. increased its position in shares of Arch Capital Group by 2.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 44,222 shares of the insurance provider’s stock worth $4,504,000 after purchasing an additional 1,128 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in shares of Arch Capital Group by 12.0% in the 3rd quarter. Raymond James Trust N.A. now owns 6,379 shares of the insurance provider’s stock worth $714,000 after purchasing an additional 685 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ACGL. Keefe, Bruyette & Woods lowered their price objective on shares of Arch Capital Group from $120.00 to $113.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Barclays lowered their price objective on shares of Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company lowered their price objective on shares of Arch Capital Group from $107.00 to $106.00 and set an “overweight” rating for the company in a research report on Wednesday, February 12th. UBS Group lowered their price objective on shares of Arch Capital Group from $131.00 to $127.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Finally, Morgan Stanley lowered their price objective on shares of Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $117.19.

Insider Transactions at Arch Capital Group

In other news, insider Louis T. Petrillo sold 11,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $91.00, for a total value of $1,055,600.00. Following the completion of the sale, the insider now directly owns 140,023 shares of the company’s stock, valued at approximately $12,742,093. This represents a 7.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.20% of the company’s stock.

Arch Capital Group Trading Down 0.5 %

Shares of NASDAQ:ACGL opened at $91.98 on Monday. The company has a 50 day moving average of $91.99 and a 200-day moving average of $98.65. The firm has a market cap of $34.53 billion, a P/E ratio of 8.21, a P/E/G ratio of 2.31 and a beta of 0.62. Arch Capital Group Ltd. has a twelve month low of $87.42 and a twelve month high of $116.47. The company has a current ratio of 0.54, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.36. Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. During the same period last year, the company posted $2.45 earnings per share. As a group, analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

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.