Norges Bank Invests $463.21 Million in Arch Capital Group Ltd. $ACGL

Norges Bank bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,829,107 shares of the insurance provider’s stock, valued at approximately $463,208,000.

Several other large investors also recently modified their holdings of ACGL. First Trust Advisors LP grew its holdings in shares of Arch Capital Group by 409.5% during the 3rd quarter. First Trust Advisors LP now owns 2,835,648 shares of the insurance provider’s stock worth $257,278,000 after purchasing an additional 2,279,147 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Arch Capital Group by 289.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,368,648 shares of the insurance provider’s stock worth $124,615,000 after purchasing an additional 1,016,919 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of Arch Capital Group by 112.4% during the 3rd quarter. Two Sigma Investments LP now owns 1,895,222 shares of the insurance provider’s stock worth $171,953,000 after purchasing an additional 1,003,004 shares in the last quarter. UBS Group AG grew its holdings in shares of Arch Capital Group by 56.4% during the 3rd quarter. UBS Group AG now owns 2,738,518 shares of the insurance provider’s stock worth $248,466,000 after purchasing an additional 987,398 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Arch Capital Group by 3,918.3% during the 3rd quarter. Marshall Wace LLP now owns 934,287 shares of the insurance provider’s stock worth $84,768,000 after purchasing an additional 911,036 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $88.74 on Tuesday. The business’s 50-day moving average price is $95.22 and its 200-day moving average price is $95.16. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $103.39. The firm has a market capitalization of $31.00 billion, a price-to-earnings ratio of 6.82, a PEG ratio of 4.91 and a beta of 0.32. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The firm had revenue of $4.52 billion for the quarter. Equities research analysts forecast that Arch Capital Group Ltd. will post 9.29 EPS for the current year.

Analyst Ratings Changes

ACGL has been the topic of several analyst reports. Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 target price (up from $97.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. Mizuho reduced their target price on Arch Capital Group from $102.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Wells Fargo & Company raised their price objective on Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Barclays raised their price objective on Arch Capital Group from $104.00 to $106.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Finally, UBS Group reaffirmed a “buy” rating and issued a $114.00 price objective (up from $113.00) on shares of Arch Capital Group in a research note on Tuesday, February 17th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arch Capital Group currently has an average rating of “Hold” and a consensus target price of $106.32.

Insider Transactions at Arch Capital Group

In other news, insider David Gansberg sold 5,907 shares of Arch Capital Group stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $96.37, for a total transaction of $569,257.59. Following the sale, the insider directly owned 336,559 shares of the company’s stock, valued at approximately $32,434,190.83. This trade represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicolas Papadopoulo sold 21,930 shares of Arch Capital Group stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $96.31, for a total value of $2,112,078.30. Following the sale, the chief executive officer directly owned 871,594 shares in the company, valued at $83,943,218.14. The trade was a 2.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 32,837 shares of company stock valued at $2,766,946. Company insiders own 3.30% of the company’s stock.

About Arch Capital Group

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.