Arch Capital Group Ltd. (NASDAQ:ACGL) Holdings Increased by Millennium Management LLC

Millennium Management LLC increased its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 111.5% in the 4th quarter, HoldingsChannel reports. The fund owned 820,923 shares of the insurance provider’s stock after acquiring an additional 432,857 shares during the period. Millennium Management LLC’s holdings in Arch Capital Group were worth $75,812,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new stake in Arch Capital Group in the fourth quarter worth about $37,000. Golden State Wealth Management LLC acquired a new position in shares of Arch Capital Group in the 4th quarter worth approximately $42,000. Y.D. More Investments Ltd raised its holdings in shares of Arch Capital Group by 125.6% in the 4th quarter. Y.D. More Investments Ltd now owns 467 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 260 shares in the last quarter. Quarry LP bought a new stake in shares of Arch Capital Group in the 4th quarter worth approximately $58,000. Finally, UMB Bank n.a. lifted its stake in Arch Capital Group by 97.0% during the fourth quarter. UMB Bank n.a. now owns 841 shares of the insurance provider’s stock valued at $78,000 after purchasing an additional 414 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Nicolas Papadopoulo sold 7,636 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $92.48, for a total transaction of $706,177.28. Following the transaction, the chief executive officer now owns 795,718 shares in the company, valued at approximately $73,588,000.64. This trade represents a 0.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Louis T. Petrillo sold 11,600 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total transaction of $1,055,600.00. Following the completion of the sale, the insider now owns 140,023 shares of the company’s stock, valued at $12,742,093. This represents a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,946 shares of company stock valued at $10,392,092 in the last three months. Insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Performance

ACGL stock opened at $93.54 on Friday. The firm has a 50 day simple moving average of $92.38 and a 200 day simple moving average of $93.64. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47. The stock has a market cap of $35.05 billion, a P/E ratio of 8.35, a P/E/G ratio of 2.31 and a beta of 0.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.58 and a current ratio of 0.54.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.05). Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same period last year, the business earned $2.45 EPS. The company’s quarterly revenue was up 10.5% on a year-over-year basis. Research analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ACGL shares. JMP Securities restated a “market outperform” rating and issued a $125.00 price target on shares of Arch Capital Group in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods raised their price objective on Arch Capital Group from $104.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. UBS Group cut their target price on Arch Capital Group from $127.00 to $124.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Royal Bank of Canada reduced their target price on Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Finally, Barclays dropped their price target on Arch Capital Group from $100.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.00.

Arch Capital Group Company 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.