Harbor Investment Advisory LLC Grows Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Harbor Investment Advisory LLC increased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 242.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,199 shares of the insurance provider’s stock after buying an additional 2,265 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Arch Capital Group were worth $308,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new position in Arch Capital Group during the fourth quarter worth approximately $25,000. Cullen Frost Bankers Inc. purchased a new position in Arch Capital Group during the fourth quarter worth approximately $37,000. Golden State Wealth Management LLC purchased a new position in Arch Capital Group during the fourth quarter worth approximately $42,000. Y.D. More Investments Ltd lifted its position in Arch Capital Group by 125.6% during the fourth quarter. Y.D. More Investments Ltd now owns 467 shares of the insurance provider’s stock worth $43,000 after buying an additional 260 shares in the last quarter. Finally, Quarry LP purchased a new position in Arch Capital Group during the fourth quarter worth approximately $58,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In related news, insider John M. Pasquesi sold 75,060 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $94.01, for a total transaction of $7,056,390.60. Following the completion of the transaction, the insider now directly owns 579,218 shares of the company’s stock, valued at $54,452,284.18. The trade was a 11.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Nicolas Papadopoulo sold 7,636 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $92.48, for a total value of $706,177.28. Following the transaction, the chief executive officer now directly owns 795,718 shares of the company’s stock, valued at $73,588,000.64. The trade was a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,976 shares of company stock valued at $10,531,038. 4.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ACGL has been the topic of a number of analyst reports. UBS Group reduced their price objective 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. Morgan Stanley set a $110.00 price objective on Arch Capital Group and gave the stock an “overweight” rating in a research report on Monday, May 19th. Royal Bank of Canada reduced their target price on Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Jefferies Financial Group lifted their target price on Arch Capital Group from $105.00 to $106.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Finally, Barclays reduced their target price on Arch Capital Group from $100.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arch Capital Group has an average rating of “Moderate Buy” and a consensus target price of $115.00.

Arch Capital Group Trading Down 0.5%

Shares of NASDAQ ACGL opened at $95.82 on Wednesday. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47. The company has a current ratio of 0.54, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $92.62 and a 200-day simple moving average of $93.03. The stock has a market capitalization of $35.91 billion, a PE ratio of 8.56, a PEG ratio of 2.31 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share 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 firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same period in the previous year, the firm posted $2.45 earnings per share. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

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.