Dark Forest Capital Management LP Has $3.60 Million Stock Position in Arch Capital Group Ltd. $ACGL

Dark Forest Capital Management LP grew its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 549.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,474 shares of the insurance provider’s stock after purchasing an additional 31,703 shares during the period. Dark Forest Capital Management LP’s holdings in Arch Capital Group were worth $3,604,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ACGL. First Manhattan CO. LLC. boosted its stake in Arch Capital Group by 61.4% in the 1st quarter. First Manhattan CO. LLC. now owns 9,456 shares of the insurance provider’s stock valued at $909,000 after buying an additional 3,598 shares in the last quarter. Focus Partners Advisor Solutions LLC bought a new position in shares of Arch Capital Group during the first quarter valued at $263,000. Royal Bank of Canada boosted its stake in shares of Arch Capital Group by 2.0% in the 1st quarter. Royal Bank of Canada now owns 3,510,376 shares of the insurance provider’s stock valued at $337,628,000 after purchasing an additional 67,811 shares in the last quarter. Steamboat Capital Partners LLC boosted its stake in shares of Arch Capital Group by 27.7% in the 1st quarter. Steamboat Capital Partners LLC now owns 49,175 shares of the insurance provider’s stock valued at $4,730,000 after purchasing an additional 10,673 shares in the last quarter. Finally, MAI Capital Management grew its holdings in shares of Arch Capital Group by 4.7% in the 1st quarter. MAI Capital Management now owns 5,143 shares of the insurance provider’s stock worth $495,000 after purchasing an additional 229 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

ACGL has been the subject of several analyst reports. Cowen reissued a “buy” rating on shares of Arch Capital Group in a report on Monday, August 4th. Cantor Fitzgerald upgraded shares of Arch Capital Group to a “hold” rating in a research note on Wednesday, August 13th. Wells Fargo & Company reduced their target price on Arch Capital Group from $110.00 to $107.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Citigroup started coverage on Arch Capital Group in a report on Wednesday, August 13th. They set a “buy” rating and a $113.00 price target for the company. Finally, Jefferies Financial Group downgraded Arch Capital Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $106.00 to $100.00 in a research report on Tuesday, June 10th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $111.27.

Insider Buying and Selling at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the transaction, the insider directly owned 433,589 shares in the company, valued at $40,822,404.35. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.10% of the stock is currently owned by company insiders.

Arch Capital Group Stock Performance

ACGL stock opened at $91.32 on Wednesday. The company has a 50 day moving average price of $89.57 and a 200 day moving average price of $91.24. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $34.08 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 5.60 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.28. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.During the same period last year, the company earned $2.57 EPS. Analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

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.