Crossmark Global Holdings Inc. Grows Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Posted by on Apr 2nd, 2023

Crossmark Global Holdings Inc. grew its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL – Get Rating) by 37.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,317 shares of the insurance provider’s stock after purchasing an additional 5,810 shares during the period. Crossmark Global Holdings Inc.’s holdings in Arch Capital Group were worth $1,339,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James Trust N.A. increased its stake in shares of Arch Capital Group by 3.7% during the third quarter. Raymond James Trust N.A. now owns 4,926 shares of the insurance provider’s stock valued at $224,000 after buying an additional 177 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of Arch Capital Group by 2.3% during the third quarter. Verdence Capital Advisors LLC now owns 8,332 shares of the insurance provider’s stock valued at $379,000 after buying an additional 189 shares during the period. Virtus ETF Advisers LLC increased its stake in shares of Arch Capital Group by 1.4% during the third quarter. Virtus ETF Advisers LLC now owns 15,496 shares of the insurance provider’s stock valued at $706,000 after buying an additional 218 shares during the period. Steph & Co. increased its stake in shares of Arch Capital Group by 3.3% during the third quarter. Steph & Co. now owns 6,940 shares of the insurance provider’s stock valued at $316,000 after buying an additional 224 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Arch Capital Group by 25.7% during the third quarter. Signaturefd LLC now owns 1,100 shares of the insurance provider’s stock valued at $50,000 after buying an additional 225 shares during the period. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Arch Capital Group Price Performance

Shares of ACGL stock opened at $67.87 on Friday. Arch Capital Group Ltd. has a fifty-two week low of $41.05 and a fifty-two week high of $72.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $25.28 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.11 and a beta of 0.74. The stock’s 50-day simple moving average is $66.42 and its 200-day simple moving average is $59.31.

Arch Capital Group (NASDAQ:ACGL – Get Rating) last released its earnings results on Tuesday, February 14th. The insurance provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.80. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.68 billion. Arch Capital Group had a net margin of 15.34% and a return on equity of 15.93%. During the same quarter in the previous year, the firm earned $1.27 EPS. As a group, equities analysts forecast that Arch Capital Group Ltd. will post 6.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arch Capital Group news, insider Nicolas Papadopoulo sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $70.16, for a total transaction of $2,104,800.00. Following the sale, the insider now owns 759,970 shares of the company’s stock, valued at approximately $53,319,495.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Arch Capital Group news, CFO Francois Morin sold 15,814 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $67.61, for a total transaction of $1,069,184.54. Following the sale, the chief financial officer now owns 185,869 shares of the company’s stock, valued at approximately $12,566,603.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nicolas Papadopoulo sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $70.16, for a total transaction of $2,104,800.00. Following the sale, the insider now directly owns 759,970 shares in the company, valued at approximately $53,319,495.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,143 shares of company stock valued at $4,938,291. Insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. UBS Group raised their price target on Arch Capital Group from $66.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, February 21st. Royal Bank of Canada raised their price target on Arch Capital Group from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, February 15th. BMO Capital Markets started coverage on Arch Capital Group in a research note on Thursday, January 19th. They set a “market perform” rating and a $65.00 price target on the stock. Keefe, Bruyette & Woods lifted their target price on Arch Capital Group from $69.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, February 16th. Finally, JMP Securities increased their price target on shares of Arch Capital Group from $70.00 to $75.00 and gave the company a “market perform” rating in a research report on Tuesday, February 14th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $69.70.

Arch Capital Group Company Profile

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Arch Capital Group Ltd. engages in the provision of property and casualty insurance and reinsurance lines. It operates through the following segments: Insurance, Reinsurance, Mortgage, Corporate, and Other. The Insurance segment consists of insurance underwriting units which offer specialty product lines like construction and national accounts, excess and surplus casualty, lenders products, professional lines, and programs.

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

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