Novem Group Invests $1.21 Million in Arch Capital Group Ltd. $ACGL

Novem Group purchased a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 12,616 shares of the insurance provider’s stock, valued at approximately $1,210,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACGL. Geneos Wealth Management Inc. raised its stake in shares of Arch Capital Group by 157.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock worth $65,000 after purchasing an additional 412 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Arch Capital Group during the 2nd quarter worth about $253,000. CW Advisors LLC raised its stake in shares of Arch Capital Group by 6.5% during the 2nd quarter. CW Advisors LLC now owns 3,098 shares of the insurance provider’s stock worth $282,000 after purchasing an additional 189 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Arch Capital Group during the 2nd quarter worth about $667,000. Finally, Cerity Partners LLC raised its stake in shares of Arch Capital Group by 11.6% during the 2nd quarter. Cerity Partners LLC now owns 47,486 shares of the insurance provider’s stock worth $4,324,000 after purchasing an additional 4,933 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACGL has been the subject of a number of recent research reports. Weiss Ratings raised Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price target (up from $97.00) on shares of Arch Capital Group in a research note on Tuesday, February 17th. Morgan Stanley set a $125.00 price target on Arch Capital Group in a research note on Friday, January 16th. Citigroup reissued a “buy” rating and issued a $120.00 price objective (up from $113.00) on shares of Arch Capital Group in a research note on Friday, February 13th. Finally, 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. Nine research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $108.93.

Arch Capital Group Stock Down 0.1%

Arch Capital Group stock opened at $97.49 on Tuesday. The firm has a market cap of $34.73 billion, a price-to-earnings ratio of 8.39, a P/E/G ratio of 4.85 and a beta of 0.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.53 and a quick ratio of 0.53. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $103.39. The firm has a fifty day moving average price of $96.73 and a two-hundred day moving average price of $94.01.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Monday, February 9th. The insurance provider reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.64. The firm had revenue of $4.93 billion during the quarter, compared to analyst estimates of $3.94 billion. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. During the same quarter in the previous year, the business earned $2.26 EPS. As a group, analysts forecast that Arch Capital Group Ltd. will post 9.36 earnings per share for the current year.

Insider Activity

In other Arch Capital Group news, CEO Nicolas Papadopoulo sold 21,930 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $96.31, for a total value of $2,112,078.30. Following the sale, the chief executive officer owned 871,594 shares of the company’s stock, valued at $83,943,218.14. This trade represents a 2.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $17.11, for a total value of $51,330.00. Following the completion of the sale, the director directly owned 2,000 shares in the company, valued at $34,220. This trade represents a 60.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 78,267 shares of company stock worth $7,291,637 in the last 90 days. 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.