Bessemer Group Inc. Grows Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Posted by on Aug 21st, 2023

Bessemer Group Inc. increased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) by 6,431.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,512 shares of the insurance provider’s stock after buying an additional 23,152 shares during the quarter. Bessemer Group Inc.’s holdings in Arch Capital Group were worth $1,596,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ACGL. U.S. Capital Wealth Advisors LLC purchased a new stake in Arch Capital Group in the 4th quarter valued at approximately $126,000. Nordea Investment Management AB boosted its holdings in Arch Capital Group by 6.3% in the 4th quarter. Nordea Investment Management AB now owns 25,983 shares of the insurance provider’s stock valued at $1,629,000 after purchasing an additional 1,543 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Arch Capital Group by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 101,600 shares of the insurance provider’s stock valued at $6,896,000 after acquiring an additional 1,100 shares during the period. Boston Partners lifted its position in shares of Arch Capital Group by 42.9% during the 4th quarter. Boston Partners now owns 2,029,035 shares of the insurance provider’s stock valued at $127,393,000 after acquiring an additional 609,547 shares during the period. Finally, Moors & Cabot Inc. lifted its position in shares of Arch Capital Group by 9.7% during the 1st quarter. Moors & Cabot Inc. now owns 4,642 shares of the insurance provider’s stock valued at $315,000 after acquiring an additional 410 shares during the period. Hedge funds and other institutional investors own 88.46% of the company’s stock.

Arch Capital Group Trading Up 1.3 %

Shares of ACGL opened at $75.24 on Monday. The stock has a fifty day moving average of $75.67 and a two-hundred day moving average of $71.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $28.06 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.12 and a beta of 0.72. Arch Capital Group Ltd. has a fifty-two week low of $41.05 and a fifty-two week high of $84.83.

Arch Capital Group (NASDAQ:ACGL – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The insurance provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.27. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.19 billion. Arch Capital Group had a return on equity of 18.57% and a net margin of 19.31%. Arch Capital Group’s revenue was up 27.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 EPS. As a group, analysts forecast that Arch Capital Group Ltd. will post 6.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ACGL. JMP Securities lifted their price target on shares of Arch Capital Group from $85.00 to $90.00 in a research report on Thursday, July 27th. Morgan Stanley began coverage on shares of Arch Capital Group in a research report on Tuesday, June 20th. They set an “overweight” rating and a $92.00 price target for the company. Barclays lifted their price target on shares of Arch Capital Group from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Royal Bank of Canada lifted their price target on shares of Arch Capital Group from $74.00 to $81.00 in a research report on Friday, April 28th. Finally, StockNews.com started coverage on Arch Capital Group in a research report on Thursday. They set a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.80.

Get Our Latest Stock Report on Arch Capital Group

About Arch Capital Group

(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.

Featured Articles

Want to see what other hedge funds are holding ACGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report).

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

Receive News & Ratings for Arch Capital Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arch Capital Group and related companies with MarketBeat.com's FREE daily email newsletter.