Smith Group Asset Management LLC Grows Stock Position in Arch Capital Group Ltd. $ACGL

Smith Group Asset Management LLC boosted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 412,379 shares of the insurance provider’s stock after acquiring an additional 29,591 shares during the period. Arch Capital Group accounts for approximately 2.0% of Smith Group Asset Management LLC’s portfolio, making the stock its 24th biggest position. Smith Group Asset Management LLC’s holdings in Arch Capital Group were worth $39,584,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ACGL. Elyxium Wealth LLC purchased a new position in shares of Arch Capital Group in the 4th quarter valued at about $27,000. WealthCollab LLC increased its stake in shares of Arch Capital Group by 410.3% during the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after buying an additional 238 shares during the period. JPL Wealth Management LLC acquired a new stake in Arch Capital Group in the third quarter valued at approximately $28,000. TD Waterhouse Canada Inc. raised its holdings in Arch Capital Group by 72.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 136 shares in the last quarter. Finally, Zions Bancorporation National Association UT lifted its stake in Arch Capital Group by 390.9% in the fourth quarter. Zions Bancorporation National Association UT now owns 324 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 258 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling at Arch Capital Group

In related news, Director Daniel Joseph Houston acquired 5,300 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was bought at an average price of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the purchase, the director directly owned 9,915 shares of the company’s stock, valued at approximately $932,803.20. The trade was a 114.84% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brian S. Posner sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. 3.30% of the stock is owned by company insiders.

Arch Capital Group Stock Performance

Shares of Arch Capital Group stock opened at $106.48 on Wednesday. The firm has a market capitalization of $37.20 billion, a P/E ratio of 8.18, a P/E/G ratio of 5.17 and a beta of 0.31. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $107.09. 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 firm’s 50 day moving average is $96.17 and its two-hundred day moving average is $95.97.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. The company had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. During the same quarter last year, the company earned $2.58 earnings per share. Research analysts forecast that Arch Capital Group Ltd. will post 9.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on ACGL. Cantor Fitzgerald reiterated a “neutral” rating and set a $102.00 price target (up from $100.00) on shares of Arch Capital Group in a report on Thursday, July 9th. Barclays lifted their price objective on shares of Arch Capital Group from $104.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. Keefe, Bruyette & Woods lowered their target price on shares of Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating for the company in a research note on Wednesday, July 8th. Atlantic Securities set a $126.00 target price on Arch Capital Group in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. raised their price target on Arch Capital Group from $110.00 to $116.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $109.82.

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.