Power Corp of Canada Takes $239,000 Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Power Corp of Canada bought a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL – Get Rating) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,247 shares of the insurance provider’s stock, valued at approximately $239,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CENTRAL TRUST Co raised its holdings in shares of Arch Capital Group by 57.3% during the third quarter. CENTRAL TRUST Co now owns 692 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 252 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Arch Capital Group by 11.2% during the third quarter. M&T Bank Corp now owns 19,385 shares of the insurance provider’s stock valued at $883,000 after acquiring an additional 1,952 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in shares of Arch Capital Group by 65.9% during the third quarter. Glenmede Trust Co. NA now owns 25,558 shares of the insurance provider’s stock valued at $1,163,000 after acquiring an additional 10,151 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Arch Capital Group by 11.2% during the third quarter. Captrust Financial Advisors now owns 9,985 shares of the insurance provider’s stock valued at $455,000 after acquiring an additional 1,007 shares in the last quarter. Finally, Fred Alger Management LLC raised its holdings in shares of Arch Capital Group by 45.0% during the third quarter. Fred Alger Management LLC now owns 1,283 shares of the insurance provider’s stock valued at $58,000 after acquiring an additional 398 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

Arch Capital Group Stock Down 6.8 %

NASDAQ:ACGL opened at $62.74 on Thursday. The firm has a market cap of $23.29 billion, a P/E ratio of 16.51, a P/E/G ratio of 1.09 and a beta of 0.74. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. Arch Capital Group Ltd. has a fifty-two week low of $41.05 and a fifty-two week high of $72.28. The firm has a 50-day simple moving average of $65.68 and a two-hundred day simple moving average of $57.66.

Arch Capital Group (NASDAQ:ACGL – Get Rating) last released its quarterly earnings data on Tuesday, February 14th. The insurance provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.80. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.68 billion. Arch Capital Group had a net margin of 15.34% and a return on equity of 15.93%. During the same period last year, the business earned $1.27 EPS. Analysts predict that Arch Capital Group Ltd. will post 6.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ACGL shares. StockNews.com initiated coverage on Arch Capital Group in a report on Thursday. They set a “buy” rating for the company. Barclays boosted their target price on shares of Arch Capital Group from $72.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, February 15th. Wells Fargo & Company increased their price target on shares of Arch Capital Group from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 15th. Royal Bank of Canada increased their price target on shares of Arch Capital Group from $70.00 to $74.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 15th. Finally, JMP Securities increased their price target on shares of Arch Capital Group from $70.00 to $75.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 14th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group has an average rating of “Moderate Buy” and a consensus price target of $70.56.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, insider Nicolas Papadopoulo sold 30,000 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $70.16, for a total transaction of $2,104,800.00. Following the completion of the sale, the insider now directly owns 759,970 shares in the company, valued at approximately $53,319,495.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Arch Capital Group news, insider Nicolas Papadopoulo sold 30,000 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $70.16, for a total transaction of $2,104,800.00. Following the completion of the sale, the insider now directly owns 759,970 shares in the company, valued at approximately $53,319,495.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John M. Pasquesi sold 26,329 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $67.01, for a total transaction of $1,764,306.29. Following the sale, the insider now directly owns 756,635 shares in the company, valued at approximately $50,702,111.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,143 shares of company stock worth $4,938,291. 4.20% of the stock is owned by corporate insiders.

Arch Capital Group Profile

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Arch Capital Group Ltd. engages in the provision of property and casualty insurance and reinsurance lines. It operates through the following segments: Insurance, Reinsurance, Mortgage, Corporate, and Other. The Insurance segment consists of insurance underwriting units which offer specialty product lines like construction and national accounts, excess and surplus casualty, lenders products, professional lines, and programs.