Zions Bancorporation National Association UT Takes $37,000 Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Zions Bancorporation National Association UT acquired a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 385 shares of the insurance provider’s stock, valued at approximately $37,000.

Several other hedge funds also recently modified their holdings of the business. Citigroup Inc. boosted its position in shares of Arch Capital Group by 86.2% in the first quarter. Citigroup Inc. now owns 654,783 shares of the insurance provider’s stock valued at $62,977,000 after acquiring an additional 303,104 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Arch Capital Group by 9.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 658,813 shares of the insurance provider’s stock valued at $63,365,000 after purchasing an additional 57,297 shares during the period. Y.D. More Investments Ltd increased its position in shares of Arch Capital Group by 74.5% during the first quarter. Y.D. More Investments Ltd now owns 815 shares of the insurance provider’s stock valued at $78,000 after purchasing an additional 348 shares during the period. ASR Vermogensbeheer N.V. acquired a new position in shares of Arch Capital Group in the first quarter valued at $6,564,000. 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 valued at $52,000 after purchasing an additional 119 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $87.78 on Wednesday. The stock has a 50-day simple moving average of $89.56 and a 200 day simple moving average of $91.33. 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 Ltd. has a 12-month low of $82.49 and a 12-month high of $116.47. The stock has a market capitalization of $32.76 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 5.54 and a beta of 0.49.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.29 billion. During the same period in the previous year, the business posted $2.57 earnings per share. On average, research analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insider Activity

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 directly owned 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. 4.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Jefferies Financial Group lowered 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 research note on Tuesday, June 10th. Morgan Stanley set a $110.00 target price on Arch Capital Group and gave the company an “overweight” rating in a research note on Monday, May 19th. Cantor Fitzgerald assumed coverage on Arch Capital Group in a research note on Tuesday. They issued a “neutral” rating for the company. Wells Fargo & Company cut their target price on Arch Capital Group from $110.00 to $107.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. Finally, UBS Group restated a “buy” rating and issued a $118.00 target price (down from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.07.

About Arch Capital Group

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.