abrdn plc Increases Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

abrdn plc increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 73.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 190,773 shares of the insurance provider’s stock after acquiring an additional 80,906 shares during the period. abrdn plc owned approximately 0.05% of Arch Capital Group worth $14,169,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACGL. AE Wealth Management LLC bought a new stake in Arch Capital Group during the 3rd quarter worth approximately $698,000. IFP Advisors Inc increased its holdings in shares of Arch Capital Group by 14.6% in the 3rd quarter. IFP Advisors Inc now owns 1,551 shares of the insurance provider’s stock worth $124,000 after buying an additional 198 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Arch Capital Group by 37.2% in the 3rd quarter. Private Trust Co. NA now owns 1,074 shares of the insurance provider’s stock worth $86,000 after buying an additional 291 shares during the last quarter. Caprock Group LLC increased its holdings in shares of Arch Capital Group by 22.9% in the 3rd quarter. Caprock Group LLC now owns 3,506 shares of the insurance provider’s stock worth $279,000 after buying an additional 653 shares during the last quarter. Finally, Czech National Bank increased its holdings in shares of Arch Capital Group by 47.8% in the 3rd quarter. Czech National Bank now owns 65,176 shares of the insurance provider’s stock worth $5,195,000 after buying an additional 21,089 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ACGL. UBS Group decreased their price target on shares of Arch Capital Group from $101.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, January 10th. Citigroup decreased their price target on shares of Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating on the stock in a report on Monday, January 22nd. TD Cowen started coverage on shares of Arch Capital Group in a report on Wednesday, January 10th. They issued an “outperform” rating and a $96.00 price target on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $100.00 target price on shares of Arch Capital Group in a report on Monday, April 15th. Finally, StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Arch Capital Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.23.

Arch Capital Group Trading Down 0.2 %

NASDAQ:ACGL opened at $93.05 on Friday. The company has a 50-day moving average price of $90.24 and a 200-day moving average price of $84.34. Arch Capital Group Ltd. has a 12 month low of $69.05 and a 12 month high of $95.01. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.17. The stock has a market cap of $34.91 billion, a price-to-earnings ratio of 8.01, a P/E/G ratio of 1.16 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Thursday, February 15th. The insurance provider reported $2.49 EPS for the quarter, topping the consensus estimate of $1.94 by $0.55. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same period last year, the company posted $2.14 EPS. Equities analysts predict that Arch Capital Group Ltd. will post 8.03 EPS for the current year.

Insider Activity at Arch Capital Group

In related news, CEO Maamoun Rajeh sold 50,000 shares of Arch Capital Group stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the completion of the transaction, the chief executive officer now directly owns 336,170 shares of the company’s stock, valued at approximately $29,408,151.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the completion of the sale, the insider now directly owns 651,931 shares in the company, valued at approximately $57,057,001.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Maamoun Rajeh sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the sale, the chief executive officer now owns 336,170 shares of the company’s stock, valued at $29,408,151.60. The disclosure for this sale can be found here. Insiders sold a total of 135,689 shares of company stock valued at $11,872,217 in the last three months. Company insiders own 4.20% of the company’s stock.

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.