Nordea Investment Management AB Increases Holdings in Arch Capital Group Ltd. $ACGL

Nordea Investment Management AB lifted its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,040 shares of the insurance provider’s stock after purchasing an additional 2,636 shares during the quarter. Nordea Investment Management AB’s holdings in Arch Capital Group were worth $2,992,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ACGL. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Arch Capital Group in the first quarter worth about $27,000. Meeder Asset Management Inc. raised its stake in shares of Arch Capital Group by 116.3% in the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 150 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of Arch Capital Group in the first quarter worth about $31,000. Zions Bancorporation National Association UT purchased a new position in shares of Arch Capital Group in the first quarter worth about $37,000. Finally, Hemington Wealth Management raised its stake in shares of Arch Capital Group by 27.7% in the first quarter. Hemington Wealth Management now owns 548 shares of the insurance provider’s stock worth $52,000 after purchasing an additional 119 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Stock Up 0.2%

Shares of ACGL opened at $87.88 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $107.90. The stock’s 50 day moving average is $90.57 and its two-hundred day moving average is $90.75. The firm has a market cap of $32.80 billion, a P/E ratio of 9.07, a PEG ratio of 5.08 and a beta of 0.47.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.28. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.During the same period in the previous year, the company posted $2.57 earnings per share. Analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ACGL has been the subject of several recent research reports. Citigroup initiated coverage on Arch Capital Group in a research report on Wednesday, August 13th. They set a “buy” rating and a $113.00 price target for the company. The Goldman Sachs Group set a $88.00 price target on Arch Capital Group and gave the company a “sell” rating in a research report on Tuesday, October 14th. Cantor Fitzgerald upgraded Arch Capital Group to a “hold” rating in a research report on Wednesday, August 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arch Capital Group in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company lifted their price target on Arch Capital Group from $107.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $108.71.

Insider Buying and Selling

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the sale, the insider owned 433,589 shares in the company, valued at $40,822,404.35. The trade was 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 the SEC website. 4.20% of the stock is owned by corporate insiders.

Arch Capital Group Profile

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.