Forsta AP Fonden Sells 15,700 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Posted by Defense World Staff on Jul 8th, 2023

Forsta AP Fonden trimmed its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) by 17.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,700 shares of the insurance provider’s stock after selling 15,700 shares during the quarter. Forsta AP Fonden’s holdings in Arch Capital Group were worth $4,934,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ACGL. Cambridge Investment Research Advisors Inc. grew its stake in Arch Capital Group by 3.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,800 shares of the insurance provider’s stock valued at $1,152,000 after buying an additional 799 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Arch Capital Group by 27.1% during the first quarter. HighTower Advisors LLC now owns 34,331 shares of the insurance provider’s stock worth $1,662,000 after acquiring an additional 7,316 shares during the period. Cetera Advisor Networks LLC grew its position in shares of Arch Capital Group by 33.0% in the first quarter. Cetera Advisor Networks LLC now owns 6,567 shares of the insurance provider’s stock valued at $318,000 after purchasing an additional 1,631 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Arch Capital Group by 12.3% during the first quarter. Private Advisor Group LLC now owns 14,025 shares of the insurance provider’s stock worth $679,000 after purchasing an additional 1,537 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in Arch Capital Group during the 1st quarter worth approximately $76,000. 88.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Marc Grandisson sold 200,000 shares of the firm’s stock in a transaction 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Marc Grandisson sold 200,000 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $76.10, for a total value of $15,220,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,287,157 shares in the company, valued at $174,052,647.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicolas Papadopoulo sold 70,000 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $75.48, for a total value of $5,283,600.00. Following the transaction, the insider now directly owns 689,970 shares of the company’s stock, valued at $52,078,935.60. The disclosure for this sale can be found here. Insiders have sold 371,346 shares of company stock valued at $28,238,083 in the last ninety days. 4.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ACGL shares. Morgan Stanley started coverage on Arch Capital Group in a research report on Tuesday, June 20th. They set an “overweight” rating and a $92.00 price objective on the stock. JMP Securities lifted their price objective on shares of Arch Capital Group from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, April 27th. Barclays increased their target price on shares of Arch Capital Group from $78.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, April 28th. StockNews.com started coverage on shares of Arch Capital Group in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Arch Capital Group from $67.00 to $75.00 in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.10.

Arch Capital Group Stock Up 1.2 %

Shares of NASDAQ:ACGL opened at $74.79 on Friday. Arch Capital Group Ltd. has a 52-week low of $41.05 and a 52-week high of $78.30. The company has a market capitalization of $27.85 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.18 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. The company has a fifty day moving average of $72.94 and a 200-day moving average of $68.75.

Arch Capital Group (NASDAQ:ACGL – Free Report) last issued its earnings results on Thursday, April 27th. The insurance provider reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.22. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Arch Capital Group had a return on equity of 17.51% and a net margin of 18.43%. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.10 EPS. On average, equities analysts predict that Arch Capital Group Ltd. will post 6.27 EPS for the current fiscal year.

Arch Capital Group Profile

(Free Report)

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.