Bank of Montreal Can Raises Holdings in Arch Capital Group Ltd. $ACGL

Bank of Montreal Can grew its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 463,933 shares of the insurance provider’s stock after purchasing an additional 22,086 shares during the quarter. Bank of Montreal Can owned approximately 0.12% of Arch Capital Group worth $42,241,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in shares of Arch Capital Group by 116.3% during the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider’s stock worth $27,000 after buying an additional 150 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Arch Capital Group during the first quarter worth about $37,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Arch Capital Group by 3,450.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock worth $39,000 after buying an additional 414 shares during the period. Hemington Wealth Management boosted its stake in shares of Arch Capital Group by 27.7% during the first quarter. Hemington Wealth Management now owns 548 shares of the insurance provider’s stock worth $52,000 after buying an additional 119 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Arch Capital Group by 157.9% during the first quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock worth $65,000 after buying an additional 412 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In other news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the sale, the insider directly owned 433,589 shares in the company, valued at approximately $40,822,404.35. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.20% of the company’s stock.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $87.55 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.55 and a debt-to-equity ratio of 0.13. The company has a market cap of $32.68 billion, a P/E ratio of 8.19, a PEG ratio of 3.24 and a beta of 0.47. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $103.17. The company has a 50-day moving average price of $89.50 and a 200 day moving average price of $90.47.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $1.01. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period last year, the firm earned $1.99 EPS. Research analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Cowen reiterated a “buy” rating on shares of Arch Capital Group in a research note on Monday, August 4th. Barclays set a $99.00 target price on shares of Arch Capital Group and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group set a $88.00 target price on shares of Arch Capital Group and gave the stock a “sell” rating in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods increased their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the stock a “market perform” rating in a research note on Thursday, August 14th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $98.00 price objective on shares of Arch Capital Group in a research report on Tuesday, October 28th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $109.00.

About Arch Capital Group

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.