Panagora Asset Management Inc. Increases Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Panagora Asset Management Inc. increased its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 32.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,578 shares of the insurance provider’s stock after buying an additional 5,722 shares during the quarter. Panagora Asset Management Inc.’s holdings in Arch Capital Group were worth $1,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of ACGL. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Arch Capital Group in the 4th quarter valued at $27,000. Larson Financial Group LLC bought a new stake in Arch Capital Group in the fourth quarter worth $30,000. CVA Family Office LLC purchased a new stake in Arch Capital Group during the fourth quarter valued at about $47,000. Covestor Ltd grew its stake in shares of Arch Capital Group by 342.9% during the third quarter. Covestor Ltd now owns 899 shares of the insurance provider’s stock valued at $72,000 after buying an additional 696 shares during the last quarter. Finally, Operose Advisors LLC purchased a new position in shares of Arch Capital Group in the third quarter worth about $75,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO David Gansberg sold 10,000 shares of Arch Capital Group stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $96.64, for a total transaction of $966,400.00. Following the completion of the transaction, the chief executive officer now directly owns 228,035 shares in the company, valued at $22,037,302.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO David Gansberg sold 10,000 shares of Arch Capital Group stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $96.64, for a total value of $966,400.00. Following the completion of the transaction, the chief executive officer now owns 228,035 shares of the company’s stock, valued at approximately $22,037,302.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Nicolas Papadopoulo sold 60,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the completion of the transaction, the insider now owns 651,931 shares in the company, valued at approximately $57,057,001.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,689 shares of company stock worth $12,838,617. 4.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $98.00 target price on shares of Arch Capital Group in a report on Friday, February 16th. JMP Securities raised their target price on shares of Arch Capital Group from $100.00 to $110.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 30th. StockNews.com upgraded shares of Arch Capital Group from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Wells Fargo & Company raised their price target on shares of Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Roth Mkm restated a “buy” rating and issued a $110.00 price objective on shares of Arch Capital Group in a research report on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Arch Capital Group presently has an average rating of “Moderate Buy” and a consensus target price of $100.67.

Arch Capital Group Trading Up 1.5 %

ACGL opened at $101.65 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 52 week low of $69.05 and a 52 week high of $102.41. The stock has a market cap of $38.17 billion, a PE ratio of 8.02, a PEG ratio of 1.17 and a beta of 0.57. The business has a 50 day moving average of $93.79 and a 200-day moving average of $86.01.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.45 EPS for the quarter, beating the consensus estimate of $2.06 by $0.39. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.77 billion. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 earnings per share. Equities research analysts predict that Arch Capital Group Ltd. will post 8.55 earnings per share for the current fiscal year.

Arch Capital Group Profile

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.