Arch Capital Group Ltd. $ACGL Shares Bought by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. grew its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 56.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 759,957 shares of the insurance provider’s stock after purchasing an additional 274,835 shares during the period. Clark Capital Management Group Inc. owned 0.21% of Arch Capital Group worth $72,895,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ACGL. Elyxium Wealth LLC acquired a new stake in shares of Arch Capital Group during the fourth quarter worth $27,000. WealthCollab LLC raised its holdings in shares of Arch Capital Group by 410.3% during the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 238 shares during the period. JPL Wealth Management LLC acquired a new stake in shares of Arch Capital Group during the third quarter worth $28,000. Grove Bank & Trust acquired a new stake in shares of Arch Capital Group during the fourth quarter worth $30,000. Finally, Aventura Private Wealth LLC acquired a new stake in shares of Arch Capital Group during the fourth quarter worth $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $92.58 on Wednesday. Arch Capital Group Ltd. has a twelve month low of $82.44 and a twelve month high of $103.39. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $94.26 and a 200-day moving average of $95.00. The firm has a market cap of $32.35 billion, a price-to-earnings ratio of 7.11, a price-to-earnings-growth ratio of 4.58 and a beta of 0.32.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. The company had revenue of $4.52 billion during the quarter. Analysts forecast that Arch Capital Group Ltd. will post 9.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ACGL. Weiss Ratings cut shares of Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Wells Fargo & Company increased their price objective on shares of Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. dropped their price objective on shares of Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. Mizuho dropped their price objective on shares of Arch Capital Group from $102.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Finally, Morgan Stanley set a $105.00 price objective on shares of Arch Capital Group in a report on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $106.81.

Insider Activity

In other Arch Capital Group news, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Joseph Houston bought 5,300 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was purchased at an average price of $94.08 per share, with a total value of $498,624.00. Following the completion of the acquisition, the director owned 9,915 shares of the company’s stock, valued at approximately $932,803.20. This trade represents a 114.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 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.