Centaurus Financial Inc. Raises Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Centaurus Financial Inc. grew its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 21.7% during the fourth quarter, HoldingsChannel reports. The firm owned 2,195 shares of the insurance provider’s stock after purchasing an additional 392 shares during the quarter. Centaurus Financial Inc.’s holdings in Arch Capital Group were worth $163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ACGL. PNC Financial Services Group Inc. increased its holdings in shares of Arch Capital Group by 3.0% in the third quarter. PNC Financial Services Group Inc. now owns 63,459 shares of the insurance provider’s stock valued at $5,058,000 after purchasing an additional 1,835 shares during the period. QRG Capital Management Inc. acquired a new position in shares of Arch Capital Group in the third quarter valued at approximately $1,520,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Arch Capital Group in the third quarter valued at approximately $3,135,000. Grantham Mayo Van Otterloo & Co. LLC acquired a new position in shares of Arch Capital Group in the third quarter valued at approximately $1,532,000. Finally, WINTON GROUP Ltd acquired a new position in Arch Capital Group during the third quarter worth $310,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Morgan Stanley upped their price objective on Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Evercore ISI upped their price objective on Arch Capital Group from $98.00 to $100.00 and gave the stock an “in-line” rating in a report on Tuesday, April 30th. StockNews.com raised Arch Capital Group from a “hold” rating to a “buy” rating in a report on Sunday, June 2nd. Roth Mkm reaffirmed a “buy” rating and set a $110.00 price objective on shares of Arch Capital Group in a report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. upped their price objective on Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Arch Capital Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.33.

Arch Capital Group Stock Up 1.6 %

Shares of NASDAQ:ACGL opened at $100.80 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 52-week low of $70.19 and a 52-week high of $103.79. The stock’s fifty day simple moving average is $97.23 and its 200-day simple moving average is $88.15. The company has a market capitalization of $37.85 billion, a P/E ratio of 7.96, a P/E/G ratio of 1.67 and a beta of 0.60.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.39. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the business earned $1.73 earnings per share. The business’s revenue was up 19.3% on a year-over-year basis. As a group, equities research analysts forecast that Arch Capital Group Ltd. will post 8.55 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO David Gansberg sold 10,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $96.64, for a total value of $966,400.00. Following the sale, the chief executive officer now directly owns 228,035 shares in the company, valued at $22,037,302.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.00% of the company’s stock.

Arch Capital Group Company Profile

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.