Nuveen LLC Acquires Shares of 4,155,238 Arch Capital Group Ltd. (NASDAQ:ACGL)

Nuveen LLC acquired a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 4,155,238 shares of the insurance provider’s stock, valued at approximately $399,651,000. Nuveen LLC owned approximately 1.11% of Arch Capital Group at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new stake in Arch Capital Group during the 4th quarter valued at approximately $25,000. Meeder Asset Management Inc. grew its holdings 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 valued at $27,000 after purchasing an additional 150 shares in the last quarter. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Arch Capital Group in the first quarter valued at $27,000. Wayfinding Financial LLC purchased a new position in shares of Arch Capital Group in the first quarter valued at $31,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Arch Capital Group in the first quarter valued at $37,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 12,630 shares of Arch Capital Group stock in a transaction on Friday, May 16th. The stock was sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the completion of the sale, the chief financial officer directly owned 274,681 shares in the company, valued at approximately $25,979,328.98. This trade represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. UBS Group reissued a “buy” rating and issued a $118.00 target price (down from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Wells Fargo & Company cut their target price 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. Cowen reissued a “buy” rating on shares of Arch Capital Group in a report on Monday, August 4th. Jefferies Financial Group lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating and cut their target price for the company from $106.00 to $100.00 in a report on Tuesday, June 10th. Finally, JMP Securities reissued a “market outperform” rating and issued a $125.00 target price on shares of Arch Capital Group in a report on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group currently has a consensus rating of “Moderate Buy” and an average target price of $113.07.

Arch Capital Group Stock Down 0.0%

NASDAQ ACGL opened at $88.83 on Monday. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47. The firm has a market capitalization of $33.15 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 5.47 and a beta of 0.49. The company has a fifty day moving average of $89.84 and a two-hundred day moving average of $91.38. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.28. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period last year, the company earned $2.57 earnings per share. On average, analysts predict 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.