ICONIQ Capital LLC Makes New Investment in Arch Capital Group Ltd. $ACGL

ICONIQ Capital LLC acquired a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,284 shares of the insurance provider’s stock, valued at approximately $220,000.

A number of other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Arch Capital Group by 14.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,804 shares of the insurance provider’s stock worth $4,924,000 after buying an additional 6,406 shares in the last quarter. DAVENPORT & Co LLC purchased a new position in shares of Arch Capital Group in the first quarter valued at about $251,000. D.A. Davidson & CO. boosted its stake in shares of Arch Capital Group by 10.9% in the first quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider’s stock worth $4,381,000 after acquiring an additional 4,460 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of Arch Capital Group by 24.7% during the first quarter. Crossmark Global Holdings Inc. now owns 37,625 shares of the insurance provider’s stock worth $3,619,000 after purchasing an additional 7,448 shares in the last quarter. Finally, World Investment Advisors raised its stake in Arch Capital Group by 114.1% during the 1st quarter. World Investment Advisors now owns 6,321 shares of the insurance provider’s stock valued at $608,000 after purchasing an additional 3,369 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

ACGL stock opened at $91.88 on Tuesday. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47. The firm has a market cap of $34.29 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 5.72 and a beta of 0.49. The business’s fifty day simple moving average is $89.47 and its two-hundred day simple moving average is $91.18. 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 issued its 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. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.29 billion. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. During the same period in the previous year, the firm earned $2.57 earnings per share. Analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

ACGL has been the topic of several analyst reports. Jefferies Financial Group cut Arch Capital Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $106.00 to $100.00 in a research note on Tuesday, June 10th. Citigroup assumed coverage on Arch Capital Group in a research report on Wednesday, August 13th. They set a “buy” rating and a $113.00 target price on the stock. Morgan Stanley set a $110.00 price target on Arch Capital Group and gave the stock an “overweight” rating in a research report on Monday, May 19th. UBS Group reiterated a “buy” rating and set a $118.00 price objective (down previously from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the stock a “market perform” rating in a report on Thursday, August 14th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $111.27.

Insider Buying and Selling

In other news, insider Maamoun Rajeh sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total transaction of $941,500.00. Following the transaction, the insider directly owned 433,589 shares of the company’s stock, valued at approximately $40,822,404.35. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.20% of the stock is owned by corporate insiders.

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.