Moors & Cabot Inc. Takes Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Posted by Defense World Staff on May 22nd, 2023

Moors & Cabot Inc. purchased a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,232 shares of the insurance provider’s stock, valued at approximately $266,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Artisan Partners Limited Partnership increased its stake in shares of Arch Capital Group by 1.0% in the third quarter. Artisan Partners Limited Partnership now owns 35,253,620 shares of the insurance provider’s stock valued at $1,605,450,000 after buying an additional 346,762 shares during the period. Vanguard Group Inc. grew its stake in Arch Capital Group by 2.5% during the first quarter. Vanguard Group Inc. now owns 34,253,429 shares of the insurance provider’s stock worth $1,658,551,000 after purchasing an additional 846,179 shares during the period. State Street Corp grew its stake in Arch Capital Group by 0.8% during the third quarter. State Street Corp now owns 8,149,909 shares of the insurance provider’s stock worth $371,147,000 after purchasing an additional 64,171 shares during the period. Principal Financial Group Inc. grew its stake in Arch Capital Group by 1.9% during the fourth quarter. Principal Financial Group Inc. now owns 6,483,498 shares of the insurance provider’s stock worth $407,034,000 after purchasing an additional 119,105 shares during the period. Finally, Fiduciary Management Inc. WI grew its stake in Arch Capital Group by 9.8% during the third quarter. Fiduciary Management Inc. WI now owns 6,466,126 shares of the insurance provider’s stock worth $294,467,000 after purchasing an additional 575,545 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.

Arch Capital Group Stock Up 1.0 %

ACGL stock opened at $76.02 on Monday. Arch Capital Group Ltd. has a twelve month low of $41.05 and a twelve month high of $78.30. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average is $70.84 and its 200-day moving average is $65.65. The firm has a market capitalization of $28.31 billion, a PE ratio of 14.65, a P/E/G ratio of 1.22 and a beta of 0.72.

Arch Capital Group (NASDAQ:ACGL – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The insurance provider reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.22. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.26 billion. Arch Capital Group had a return on equity of 17.51% and a net margin of 18.43%. Arch Capital Group’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period last year, the company posted $1.10 earnings per share. Sell-side analysts expect that Arch Capital Group Ltd. will post 6.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Francois Morin sold 15,814 shares of Arch Capital Group stock in a transaction on Tuesday, February 21st. The stock was 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 directly owns 185,869 shares in the company, valued at $12,566,603.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Francois Morin sold 15,814 shares of Arch Capital Group stock in a transaction on Tuesday, February 21st. The stock was 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 directly owns 185,869 shares in the company, valued at $12,566,603.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Louis T. Petrillo sold 15,406 shares of Arch Capital Group stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $76.79, for a total value of $1,183,026.74. Following the sale, the insider now owns 105,254 shares in the company, valued at $8,082,454.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 217,160 shares of company stock worth $16,192,067. 4.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on ACGL. Roth Capital reaffirmed a “buy” rating on shares of Arch Capital Group in a research note on Tuesday, February 14th. UBS Group raised their target price on Arch Capital Group from $66.00 to $79.00 and gave the stock a “buy” rating in a research note on Tuesday, February 21st. StockNews.com began coverage on Arch Capital Group in a research note on Thursday. They set a “buy” rating for the company. Wells Fargo & Company increased their price target on Arch Capital Group from $72.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 15th. Finally, Barclays increased their price target on Arch Capital Group from $78.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, April 28th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Arch Capital Group presently has a consensus rating of “Moderate Buy” and an average price target of $74.20.

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.