Pallas Capital Advisors LLC Has $3.55 Million Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Pallas Capital Advisors LLC lifted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,902 shares of the insurance provider’s stock after acquiring an additional 1,490 shares during the period. Pallas Capital Advisors LLC’s holdings in Arch Capital Group were worth $3,549,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ACGL. Norges Bank acquired a new stake in shares of Arch Capital Group in the fourth quarter worth $437,291,000. Madison Investment Advisors LLC bought a new position in Arch Capital Group in the fourth quarter worth $410,010,000. First Trust Advisors LP lifted its position in Arch Capital Group by 663.3% in the fourth quarter. First Trust Advisors LP now owns 2,462,382 shares of the insurance provider’s stock worth $227,401,000 after purchasing an additional 2,139,782 shares during the period. Marshall Wace LLP bought a new position in Arch Capital Group in the fourth quarter worth $151,342,000. Finally, Egerton Capital UK LLP lifted its position in Arch Capital Group by 25.8% in the fourth quarter. Egerton Capital UK LLP now owns 3,987,972 shares of the insurance provider’s stock worth $368,289,000 after purchasing an additional 816,750 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Down 3.3%

Shares of NASDAQ ACGL opened at $92.35 on Tuesday. The stock has a market cap of $34.61 billion, a PE ratio of 8.25, a PEG ratio of 2.31 and a beta of 0.53. The business has a fifty day moving average of $92.48 and a two-hundred day moving average of $92.91. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week 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.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly 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 business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same period in the prior year, the firm earned $2.45 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts expect 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 recently commented on ACGL shares. Keefe, Bruyette & Woods raised their target price on Arch Capital Group from $104.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 6th. Barclays reduced their target price on Arch Capital Group from $100.00 to $93.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. UBS Group reduced their target price on Arch Capital Group from $127.00 to $124.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Jefferies Financial Group raised their target price on Arch Capital Group from $105.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 target price on shares of Arch Capital Group in a research report on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.00.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 12,630 shares of Arch Capital Group stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $94.58, for a total value of $1,194,545.40. Following the completion of the transaction, the chief financial officer now directly owns 274,681 shares of the company’s stock, valued at $25,979,328.98. The trade was a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicolas Papadopoulo sold 7,636 shares of Arch Capital Group stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $92.48, for a total value of $706,177.28. Following the completion of the transaction, the chief executive officer now directly owns 795,718 shares of the company’s stock, valued at $73,588,000.64. This represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,976 shares of company stock valued at $10,531,038 over the last ninety days. 4.20% of the stock is owned by 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.