Chase Investment Counsel Corp Grows Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Chase Investment Counsel Corp boosted its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,656 shares of the insurance provider’s stock after purchasing an additional 148 shares during the quarter. Arch Capital Group comprises about 1.3% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 25th largest position. Chase Investment Counsel Corp’s holdings in Arch Capital Group were worth $2,945,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ACGL. Householder Group Estate & Retirement Specialist LLC purchased a new position in Arch Capital Group in the 4th quarter worth about $27,000. Larson Financial Group LLC purchased a new position in Arch Capital Group in the 4th quarter worth about $30,000. Steward Financial Group LLC increased its stake in Arch Capital Group by 180.7% in the 3rd quarter. Steward Financial Group LLC now owns 525 shares of the insurance provider’s stock worth $41,000 after buying an additional 338 shares during the period. CVA Family Office LLC purchased a new position in Arch Capital Group in the 4th quarter worth about $47,000. Finally, Covestor Ltd increased its stake in Arch Capital Group by 342.9% in the 3rd quarter. Covestor Ltd now owns 899 shares of the insurance provider’s stock worth $72,000 after buying an additional 696 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 25,689 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $87.47, for a total value of $2,247,016.83. Following the completion of the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at $19,399,009.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $87.52, for a total value of $5,251,200.00. Following the transaction, the insider now owns 651,931 shares of the company’s stock, valued at $57,057,001.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Francois Morin sold 25,689 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the completion of the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $19,399,009.13. The disclosure for this sale can be found here. Over the last quarter, insiders sold 135,689 shares of company stock valued at $11,872,217. 4.00% of the stock is owned by company insiders.

Arch Capital Group Price Performance

Shares of Arch Capital Group stock traded up $0.31 during trading hours on Monday, reaching $91.21. 918,527 shares of the company’s stock were exchanged, compared to its average volume of 1,685,620. Arch Capital Group Ltd. has a 1 year low of $69.05 and a 1 year high of $95.01. The company has a market capitalization of $34.22 billion, a P/E ratio of 7.87, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The business has a fifty day moving average of $90.34 and a two-hundred day moving average of $84.43. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Thursday, February 15th. The insurance provider reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the firm earned $2.14 earnings per share. As a group, research analysts predict that Arch Capital Group Ltd. will post 8.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Evercore ISI lifted their target price on shares of Arch Capital Group from $92.00 to $100.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $98.00 target price on shares of Arch Capital Group in a research note on Friday, February 16th. StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. TD Cowen assumed coverage on shares of Arch Capital Group in a research note on Wednesday, January 10th. They set an “outperform” rating and a $96.00 price objective for the company. Finally, Wells Fargo & Company lifted their price objective on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Five 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, the stock has an average rating of “Moderate Buy” and an average price target of $96.23.

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.