Arch Capital Group Ltd. $ACGL Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC raised its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 49.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,652 shares of the insurance provider’s stock after purchasing an additional 16,343 shares during the period. NEOS Investment Management LLC’s holdings in Arch Capital Group were worth $4,505,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ACGL. Bridges Investment Management Inc. acquired a new stake in shares of Arch Capital Group in the third quarter valued at about $1,413,000. Allianz Asset Management GmbH lifted its stake in Arch Capital Group by 12.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 192,567 shares of the insurance provider’s stock valued at $17,472,000 after buying an additional 21,323 shares in the last quarter. WCM Investment Management LLC boosted its holdings in Arch Capital Group by 1.3% in the 3rd quarter. WCM Investment Management LLC now owns 13,525,402 shares of the insurance provider’s stock worth $1,214,987,000 after buying an additional 171,693 shares during the last quarter. High Ground Investment Management LLP boosted its holdings in Arch Capital Group by 3.5% in the 3rd quarter. High Ground Investment Management LLP now owns 1,714,668 shares of the insurance provider’s stock worth $155,572,000 after buying an additional 58,151 shares during the last quarter. Finally, Cooke & Bieler LP purchased a new stake in Arch Capital Group during the 3rd quarter worth approximately $210,856,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider John M. Pasquesi sold 8,800 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $94.17, for a total transaction of $828,696.00. Following the completion of the sale, the insider directly owned 289,556 shares of the company’s stock, valued at approximately $27,267,488.52. This trade represents a 2.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Francois Morin sold 8,000 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the sale, the chief financial officer owned 266,681 shares in the company, valued at approximately $25,233,356.22. This trade represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 268,096 shares of company stock valued at $25,287,645 over the last quarter. 4.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 price target (up from $97.00) on shares of Arch Capital Group in a research note on Tuesday. Barclays set a $104.00 price objective on Arch Capital Group and gave the company an “equal weight” rating in a report on Thursday, January 8th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $104.00 target price (up from $102.00) on shares of Arch Capital Group in a research report on Thursday, February 12th. The Goldman Sachs Group reissued a “sell” rating and issued a $93.00 price target (up from $84.00) on shares of Arch Capital Group in a research note on Wednesday, January 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Arch Capital Group from $111.00 to $117.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Nine equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $109.20.

Arch Capital Group Price Performance

Arch Capital Group stock opened at $98.06 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.55 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $95.55 and a 200 day moving average price of $92.17. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $103.39. The stock has a market cap of $35.56 billion, a P/E ratio of 8.44, a PEG ratio of 3.96 and a beta of 0.42.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Monday, February 9th. The insurance provider reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.64. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. During the same quarter in the prior year, the company posted $2.26 EPS. Sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

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.