SG Americas Securities LLC Raises Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Posted by on Sep 22nd, 2023

SG Americas Securities LLC increased its position in Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) by 261.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,830 shares of the insurance provider’s stock after buying an additional 17,960 shares during the quarter. SG Americas Securities LLC’s holdings in Arch Capital Group were worth $1,859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ACGL. WCM Investment Management LLC purchased a new position in shares of Arch Capital Group in the 1st quarter worth $866,650,000. Norges Bank purchased a new position in shares of Arch Capital Group in the 4th quarter worth $207,242,000. Geode Capital Management LLC raised its position in shares of Arch Capital Group by 49.4% in the 4th quarter. Geode Capital Management LLC now owns 7,780,581 shares of the insurance provider’s stock worth $487,604,000 after buying an additional 2,574,408 shares during the period. Morgan Stanley raised its position in shares of Arch Capital Group by 116.3% in the 4th quarter. Morgan Stanley now owns 3,585,197 shares of the insurance provider’s stock worth $225,079,000 after buying an additional 1,927,830 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Arch Capital Group by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 34,253,429 shares of the insurance provider’s stock worth $1,658,551,000 after buying an additional 846,179 shares during the period. 87.21% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Stock Down 1.3 %

NASDAQ:ACGL opened at $80.29 on Friday. The company has a market capitalization of $29.94 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.21 and a beta of 0.72. Arch Capital Group Ltd. has a one year low of $41.05 and a one year high of $84.83. The stock has a 50-day simple moving average of $77.88 and a 200 day simple moving average of $73.62. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.59.

Arch Capital Group (NASDAQ:ACGL – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The insurance provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.27. The business 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%. The company’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same period last year, the firm earned $1.34 earnings per share. Sell-side analysts predict that Arch Capital Group Ltd. will post 6.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wells Fargo & Company raised their price objective on Arch Capital Group from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Barclays raised their price objective on Arch Capital Group from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. The Goldman Sachs Group assumed coverage on Arch Capital Group in a research report on Friday, September 8th. They issued a “neutral” rating and a $80.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Arch Capital Group from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, July 27th. Finally, JMP Securities raised their price objective on Arch Capital Group from $85.00 to $90.00 in a research report on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.55.

Check Out Our Latest Stock Analysis on Arch Capital Group

Arch Capital Group Company 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.

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

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