Storgate LLC Invests $1.22 Million in Arch Capital Group Ltd. $ACGL

Storgate LLC purchased a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,740 shares of the insurance provider’s stock, valued at approximately $1,222,000. Arch Capital Group makes up approximately 1.0% of Storgate LLC’s investment portfolio, making the stock its 10th biggest position.

Several other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of Arch Capital Group by 4.6% during the third quarter. JPMorgan Chase & Co. now owns 8,190,927 shares of the insurance provider’s stock worth $743,168,000 after purchasing an additional 360,626 shares in the last quarter. Norges Bank acquired a new stake in shares of Arch Capital Group during the fourth quarter worth about $463,208,000. Goldman Sachs Group Inc. lifted its position in shares of Arch Capital Group by 5.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,949,978 shares of the insurance provider’s stock worth $282,962,000 after purchasing an additional 160,326 shares in the last quarter. Legal & General Group Plc raised its holdings in Arch Capital Group by 4.3% in the fourth quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider’s stock valued at $282,405,000 after acquiring an additional 121,090 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Arch Capital Group by 409.5% in the third quarter. First Trust Advisors LP now owns 2,835,648 shares of the insurance provider’s stock valued at $257,278,000 after acquiring an additional 2,279,147 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Shares of Arch Capital Group stock opened at $91.66 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $32.03 billion, a P/E ratio of 7.04, a P/E/G ratio of 4.56 and a beta of 0.32. The firm’s 50 day moving average is $94.45 and its two-hundred day moving average is $95.01. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $103.39.

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

Insider Buying and Selling

In other news, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel Joseph Houston bought 5,300 shares of the stock in a transaction dated Thursday, April 30th. The shares were acquired at an average price of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the transaction, the director owned 9,915 shares of the company’s stock, valued at approximately $932,803.20. The trade was a 114.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. UBS Group reaffirmed a “buy” rating and issued a $114.00 target price (up from $113.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. Keefe, Bruyette & Woods reduced their target price on shares of Arch Capital Group from $105.00 to $102.00 and set a “market perform” rating on the stock in a report on Tuesday, May 5th. Mizuho reduced their target price 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. JPMorgan Chase & Co. reduced their target price 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. Finally, Morgan Stanley set a $105.00 target price on shares of Arch Capital Group in a report on Friday, May 1st. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $106.81.

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.