Arch Capital Group Ltd. $ACGL Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 11.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 9,361 shares of the insurance provider’s stock after buying an additional 979 shares during the quarter. GAMMA Investing LLC’s holdings in Arch Capital Group were worth $852,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital A Wealth Management LLC acquired a new stake in shares of Arch Capital Group in the 4th quarter worth approximately $25,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Arch Capital Group during the first quarter worth $27,000. Meeder Asset Management Inc. grew its holdings in 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 during the last quarter. 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 acquired a new position in shares of Arch Capital Group during the 1st quarter worth $37,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of the firm’s stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ACGL has been the topic of several recent research reports. Cowen reiterated a “buy” rating on shares of Arch Capital Group in a research report on Monday, August 4th. Keefe, Bruyette & Woods upped their price target on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a report on Thursday, August 14th. Jefferies Financial Group lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $106.00 to $100.00 in a research report on Tuesday, June 10th. Wells Fargo & Company cut their price objective on Arch Capital Group from $110.00 to $107.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald raised Arch Capital Group to a “hold” rating in a research note on Wednesday, August 13th. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $109.36.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $88.46 on Wednesday. The company has a market cap of $33.02 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 5.39 and a beta of 0.51. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month 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’s 50-day moving average is $89.73 and its 200-day moving average is $91.20.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.28. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $2.57 EPS. Equities analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share 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.