3,180 Shares in Arch Capital Group Ltd. $ACGL Purchased by eCIO Inc.

eCIO Inc. purchased a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,180 shares of the insurance provider’s stock, valued at approximately $306,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in Arch Capital Group by 14.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,804 shares of the insurance provider’s stock worth $4,924,000 after purchasing an additional 6,406 shares in the last quarter. DAVENPORT & Co LLC acquired a new position in Arch Capital Group in the first quarter worth about $251,000. D.A. Davidson & CO. raised its position in Arch Capital Group by 10.9% in the first quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider’s stock worth $4,381,000 after purchasing an additional 4,460 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in Arch Capital Group by 24.7% in the first quarter. Crossmark Global Holdings Inc. now owns 37,625 shares of the insurance provider’s stock worth $3,619,000 after purchasing an additional 7,448 shares in the last quarter. Finally, World Investment Advisors increased its holdings in shares of Arch Capital Group by 114.1% during the first quarter. World Investment Advisors now owns 6,321 shares of the insurance provider’s stock worth $608,000 after buying an additional 3,369 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total transaction of $941,500.00. Following the sale, the insider directly owned 433,589 shares of the company’s stock, valued at $40,822,404.35. This represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ACGL has been the subject of several recent analyst reports. UBS Group reaffirmed a “buy” rating and set a $118.00 price objective (down previously from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Citigroup initiated coverage on shares of Arch Capital Group in a report on Wednesday, August 13th. They set a “buy” rating and a $113.00 price objective for the company. Cantor Fitzgerald raised shares of Arch Capital Group to a “hold” rating in a report on Wednesday, August 13th. Wells Fargo & Company dropped their price objective on shares of Arch Capital Group from $110.00 to $107.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Finally, Cowen reaffirmed a “buy” rating on shares of Arch Capital Group in a report on Monday, August 4th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.27.

Arch Capital Group Price Performance

ACGL opened at $92.29 on Friday. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. The company’s 50 day simple moving average is $89.77 and its 200-day simple moving average is $91.36. The stock has a market capitalization of $34.44 billion, a P/E ratio of 9.52, a price-to-earnings-growth ratio of 5.55 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The business had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the prior year, the firm earned $2.57 earnings per share. Sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal 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.