Pallas Capital Advisors LLC Acquires 1,334 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Pallas Capital Advisors LLC raised its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.2% in the 4th quarter, Holdings Channel reports. The firm owned 33,115 shares of the insurance provider’s stock after purchasing an additional 1,334 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Arch Capital Group were worth $2,459,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. CENTRAL TRUST Co grew its stake in Arch Capital Group by 57.3% in the 3rd quarter. CENTRAL TRUST Co now owns 692 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 252 shares in the last quarter. First Horizon Advisors Inc. raised its position in Arch Capital Group by 151.0% during the 1st quarter. First Horizon Advisors Inc. now owns 497 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 299 shares in the last quarter. Steward Financial Group LLC lifted its holdings in shares of Arch Capital Group by 180.7% in the 3rd quarter. Steward Financial Group LLC now owns 525 shares of the insurance provider’s stock worth $41,000 after buying an additional 338 shares during the period. CVA Family Office LLC bought a new position in shares of Arch Capital Group during the 4th quarter worth $47,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Arch Capital Group in the second quarter valued at about $47,000. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ACGL has been the subject of several recent research reports. JMP Securities boosted their price target on shares of Arch Capital Group from $95.00 to $100.00 and gave the company a “market outperform” rating in a report on Thursday, February 15th. Wells Fargo & Company increased their target price on Arch Capital Group from $98.00 to $104.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Evercore ISI increased their price target on shares of Arch Capital Group from $85.00 to $92.00 and gave the company an “in-line” rating in a research report on Thursday, February 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $98.00 price objective on shares of Arch Capital Group in a research report on Friday, February 16th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arch Capital Group currently has an average rating of “Moderate Buy” and a consensus price target of $94.46.

Arch Capital Group Stock Up 1.0 %

Shares of ACGL stock opened at $92.44 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.57 and a current ratio of 0.57. Arch Capital Group Ltd. has a fifty-two week low of $66.88 and a fifty-two week high of $92.57. The firm has a market capitalization of $34.59 billion, a PE ratio of 7.96, a P/E/G ratio of 1.16 and a beta of 0.57. The stock’s 50-day simple moving average is $86.54 and its 200-day simple moving average is $82.84.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Thursday, February 15th. The insurance provider reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.55. The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.67 billion. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. During the same period last year, the firm posted $2.14 EPS. Equities analysts expect that Arch Capital Group Ltd. will post 8 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Francois Morin sold 25,689 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $19,399,009.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Francois Morin sold 25,689 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the sale, the chief financial officer now owns 221,779 shares in the company, valued at $19,399,009.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Maamoun Rajeh sold 50,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the sale, the chief executive officer now directly owns 336,170 shares in the company, valued at $29,408,151.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,689 shares of company stock valued at $11,872,217. Company insiders own 4.20% of the company’s stock.

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.