Bridgewater Associates LP Increases Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Bridgewater Associates LP lifted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGLGet Rating) by 51.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,955 shares of the insurance provider’s stock after buying an additional 50,671 shares during the period. Bridgewater Associates LP’s holdings in Arch Capital Group were worth $6,776,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Arch Capital Group by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 34,253,429 shares of the insurance provider’s stock valued at $1,658,551,000 after buying an additional 846,179 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Arch Capital Group by 1.4% during the 1st quarter. BlackRock Inc. now owns 18,280,190 shares of the insurance provider’s stock valued at $885,128,000 after buying an additional 256,541 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Arch Capital Group by 24.0% during the 1st quarter. JPMorgan Chase & Co. now owns 3,747,118 shares of the insurance provider’s stock valued at $181,434,000 after buying an additional 726,267 shares in the last quarter. Eaton Vance Management raised its holdings in shares of Arch Capital Group by 1.5% during the 1st quarter. Eaton Vance Management now owns 3,382,247 shares of the insurance provider’s stock valued at $163,768,000 after buying an additional 50,881 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Arch Capital Group by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,956,155 shares of the insurance provider’s stock valued at $143,138,000 after buying an additional 23,225 shares in the last quarter. 87.61% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Price Performance

ACGL opened at $58.05 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.59 and a current ratio of 0.59. Arch Capital Group Ltd. has a 52-week low of $40.24 and a 52-week high of $59.14. The stock has a market capitalization of $21.47 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.44 and a beta of 0.78. The stock’s 50 day moving average price is $50.69 and its 200-day moving average price is $47.22.

Arch Capital Group (NASDAQ:ACGLGet Rating) last posted its earnings results on Thursday, October 27th. The insurance provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. Arch Capital Group had a return on equity of 13.16% and a net margin of 13.89%. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. The business’s revenue was up 31.2% compared to the same quarter last year. On average, equities research analysts predict that Arch Capital Group Ltd. will post 4.02 EPS for the current year.

Insider Activity

In other news, CEO Maamoun Rajeh sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $57.09, for a total transaction of $2,854,500.00. Following the transaction, the chief executive officer now directly owns 362,990 shares of the company’s stock, valued at $20,723,099.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Maamoun Rajeh sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $57.09, for a total transaction of $2,854,500.00. Following the transaction, the chief executive officer now directly owns 362,990 shares of the company’s stock, valued at $20,723,099.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian S. Posner purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The shares were purchased at an average price of $17.60 per share, for a total transaction of $35,200.00. Following the completion of the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at $70,400. The disclosure for this purchase can be found here. Insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ACGL shares. Morgan Stanley raised their price objective on Arch Capital Group from $52.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday. Wells Fargo & Company lifted their price target on Arch Capital Group from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, October 28th. Royal Bank of Canada lifted their price target on Arch Capital Group from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, October 28th. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. Finally, Jefferies Financial Group decreased their price target on Arch Capital Group from $57.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, October 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Arch Capital Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.75.

Arch Capital Group Company Profile

(Get Rating)

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; collateral protection, debt cancellation, and service contract reimbursement products; 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.

See Also

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Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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