Erste Asset Management GmbH Grows Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Erste Asset Management GmbH raised its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 780,722 shares of the insurance provider’s stock after purchasing an additional 44,692 shares during the quarter. Arch Capital Group accounts for approximately 0.9% of Erste Asset Management GmbH’s portfolio, making the stock its 24th largest position. Erste Asset Management GmbH owned about 0.21% of Arch Capital Group worth $71,984,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Arch Capital Group in the third quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new stake in Arch Capital Group in the fourth quarter valued at approximately $37,000. Ashton Thomas Securities LLC purchased a new stake in Arch Capital Group in the third quarter valued at approximately $50,000. Golden State Wealth Management LLC purchased a new stake in Arch Capital Group in the fourth quarter valued at approximately $42,000. Finally, Y.D. More Investments Ltd grew its stake in shares of Arch Capital Group by 125.6% in the fourth quarter. Y.D. More Investments Ltd now owns 467 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ACGL. JPMorgan Chase & Co. dropped their price target on shares of Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. UBS Group dropped their price target on shares of Arch Capital Group from $131.00 to $127.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. JMP Securities restated a “market outperform” rating and issued a $125.00 price target on shares of Arch Capital Group in a research note on Tuesday, February 11th. Bank of America dropped their price target on shares of Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Arch Capital Group from $120.00 to $113.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arch Capital Group presently has an average rating of “Moderate Buy” and a consensus target price of $117.19.

Insiders Place Their Bets

In other Arch Capital Group news, insider Louis T. Petrillo sold 11,600 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $91.00, for a total transaction of $1,055,600.00. Following the transaction, the insider now directly owns 140,023 shares in the company, valued at approximately $12,742,093. This represents a 7.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.20% of the stock is currently owned by company insiders.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $89.16 on Thursday. The company has a 50-day simple moving average of $91.83 and a 200-day simple moving average of $99.69. Arch Capital Group Ltd. has a one year low of $87.42 and a one year high of $116.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.58 and a current ratio of 0.54. The stock has a market capitalization of $33.47 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 2.31 and a beta of 0.62.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.36. Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. During the same quarter in the previous year, the company earned $2.45 earnings per share. On average, analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

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; 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.