Park Avenue Securities LLC lifted its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) by 57.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,385 shares of the insurance provider’s stock after buying an additional 6,010 shares during the period. Park Avenue Securities LLC’s holdings in Arch Capital Group were worth $1,112,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Verdence Capital Advisors LLC increased its holdings in shares of Arch Capital Group by 2.3% in the 3rd quarter. Verdence Capital Advisors LLC now owns 8,332 shares of the insurance provider’s stock worth $379,000 after buying an additional 189 shares during the last quarter. Monument Capital Management grew its holdings in Arch Capital Group by 4.0% during the 4th quarter. Monument Capital Management now owns 4,981 shares of the insurance provider’s stock valued at $313,000 after purchasing an additional 192 shares during the last quarter. Farmers & Merchants Investments Inc. grew its holdings in Arch Capital Group by 54.4% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 582 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 205 shares during the last quarter. CENTRAL TRUST Co grew its holdings in Arch Capital Group by 57.3% during the 3rd quarter. CENTRAL TRUST Co now owns 692 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 252 shares during the last quarter. Finally, Quantamental Technologies LLC grew its holdings in Arch Capital Group by 5.8% during the 1st quarter. Quantamental Technologies LLC now owns 4,919 shares of the insurance provider’s stock valued at $238,000 after purchasing an additional 268 shares during the last quarter. 88.46% of the stock is currently owned by institutional investors.
Arch Capital Group Price Performance
Shares of ACGL opened at $74.85 on Monday. The company has a 50 day moving average price of $72.87 and a 200-day moving average price of $68.40. Arch Capital Group Ltd. has a fifty-two week low of $41.05 and a fifty-two week high of $78.30. The stock has a market capitalization of $27.88 billion, a PE ratio of 14.42, a PEG ratio of 1.20 and a beta of 0.73. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.57 and a current ratio of 0.57.
Insider Activity at Arch Capital Group
In related news, CEO Marc Grandisson sold 200,000 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $76.10, for a total transaction of $15,220,000.00. Following the completion of the sale, the chief executive officer now owns 2,287,157 shares of the company’s stock, valued at $174,052,647.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Arch Capital Group news, CEO Marc Grandisson sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $76.10, for a total transaction of $15,220,000.00. Following the transaction, the chief executive officer now owns 2,287,157 shares in the company, valued at approximately $174,052,647.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Louis T. Petrillo sold 15,406 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $76.79, for a total transaction of $1,183,026.74. Following the transaction, the insider now owns 105,254 shares in the company, valued at approximately $8,082,454.66. The disclosure for this sale can be found here. Insiders sold 371,346 shares of company stock valued at $28,238,083 over the last 90 days. Insiders own 4.20% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently commented on ACGL shares. StockNews.com started coverage on shares of Arch Capital Group in a report on Thursday, May 18th. They set a “buy” rating on the stock. Barclays upped their price target on shares of Arch Capital Group from $78.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, April 28th. JMP Securities upped their price target on shares of Arch Capital Group from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, April 27th. Jefferies Financial Group lowered their price objective on shares of Arch Capital Group from $86.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, April 10th. Finally, Morgan Stanley assumed coverage on shares of Arch Capital Group in a research report on Tuesday, June 20th. They issued an “overweight” rating and a $92.00 price objective for the company. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.80.
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; 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.
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