Concentric Capital Strategies LP Purchases New Shares in Arch Capital Group Ltd. $ACGL

Concentric Capital Strategies LP purchased a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 5,719 shares of the insurance provider’s stock, valued at approximately $550,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ACGL. Nuveen LLC purchased a new stake in Arch Capital Group in the 1st quarter valued at $399,651,000. JPMorgan Chase & Co. raised its position in Arch Capital Group by 30.5% in the 1st quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider’s stock valued at $718,522,000 after purchasing an additional 1,743,945 shares during the last quarter. GAMMA Investing LLC raised its position in Arch Capital Group by 10,817.9% in the 1st quarter. GAMMA Investing LLC now owns 806,181 shares of the insurance provider’s stock valued at $775,380,000 after purchasing an additional 798,797 shares during the last quarter. GQG Partners LLC purchased a new position in Arch Capital Group during the 1st quarter worth $71,769,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Arch Capital Group by 17.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,576,223 shares of the insurance provider’s stock worth $330,264,000 after buying an additional 522,484 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ACGL shares. Citigroup started coverage on shares of Arch Capital Group in a research report on Wednesday, August 13th. They set a “buy” rating and a $113.00 price objective for the company. Jefferies Financial Group downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $106.00 to $100.00 in a research report on Tuesday, June 10th. Keefe, Bruyette & Woods upped their price objective on shares of Arch Capital Group from $102.00 to $103.00 and gave the stock a “market perform” rating in a research report on Thursday, August 14th. Cowen restated a “buy” rating on shares of Arch Capital Group in a research report on Monday, August 4th. Finally, Cantor Fitzgerald upgraded shares of Arch Capital Group to a “hold” rating in a research report on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $111.27.

Insider Buying and Selling at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of the company’s stock in a transaction 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 $40,822,404.35. This represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.20% of the stock is currently owned by company insiders.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $92.22 on Friday. 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 fifty-two week low of $82.49 and a fifty-two week high of $116.47. The stock has a market cap of $34.42 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 5.69 and a beta of 0.51. The firm’s fifty day simple moving average is $89.68 and its 200-day simple moving average is $91.28.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The business had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the prior year, the company posted $2.57 EPS. Analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

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.