Havemeyer Place LP Purchases Shares of 10,197 Arch Capital Group Ltd. $ACGL

Havemeyer Place LP bought a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 10,197 shares of the insurance provider’s stock, valued at approximately $978,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allianz Asset Management GmbH boosted its holdings in Arch Capital Group by 12.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 192,567 shares of the insurance provider’s stock valued at $17,472,000 after acquiring an additional 21,323 shares during the period. Legal & General Group Plc boosted its holdings in Arch Capital Group by 4.3% during the 4th quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider’s stock valued at $282,405,000 after acquiring an additional 121,090 shares during the period. JPMorgan Chase & Co. boosted its holdings in Arch Capital Group by 4.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,190,927 shares of the insurance provider’s stock valued at $743,168,000 after acquiring an additional 360,626 shares during the period. NEOS Investment Management LLC boosted its holdings in Arch Capital Group by 49.1% during the 3rd quarter. NEOS Investment Management LLC now owns 49,652 shares of the insurance provider’s stock valued at $4,505,000 after acquiring an additional 16,343 shares during the period. Finally, Asset Management One Co. Ltd. boosted its holdings in Arch Capital Group by 10.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 187,002 shares of the insurance provider’s stock valued at $18,024,000 after acquiring an additional 17,923 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL opened at $91.19 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $94.86 and a two-hundred day simple moving average of $95.06. The firm has a market cap of $31.86 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 5.01 and a beta of 0.32. Arch Capital Group Ltd. has a twelve month low of $82.44 and a twelve month high of $103.39.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. The business had revenue of $4.52 billion during the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%. Analysts expect that Arch Capital Group Ltd. will post 9.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ACGL. JPMorgan Chase & Co. dropped their price objective on Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, April 20th. UBS Group restated a “buy” rating and set a $114.00 price objective (up from $113.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. Citigroup boosted their price objective on Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a report on Thursday, April 30th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price objective (up from $97.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. Finally, Wells Fargo & Company boosted their price objective on Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $106.32.

Insider Transactions at Arch Capital Group

In other news, Director Daniel Joseph Houston bought 5,300 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was acquired at an average cost of $94.08 per share, with a total value of $498,624.00. Following the transaction, the director directly owned 9,915 shares in the company, valued at approximately $932,803.20. This trade represents a 114.84% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicolas Papadopoulo sold 21,930 shares of Arch Capital Group stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $96.31, for a total value of $2,112,078.30. Following the sale, the chief executive officer directly owned 871,594 shares of the company’s stock, valued at approximately $83,943,218.14. This trade represents a 2.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 35,837 shares of company stock valued at $2,825,926. Company insiders own 3.30% of the company’s stock.

About Arch Capital Group

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.