Van ECK Associates Corp Invests $6.11 Million in Arch Capital Group Ltd. (NASDAQ:ACGL)

Van ECK Associates Corp acquired a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the second quarter, HoldingsChannel reports. The firm acquired 60,581 shares of the insurance provider’s stock, valued at approximately $6,112,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new position in Arch Capital Group during the 4th quarter valued at $309,496,000. Capital International Investors lifted its holdings in shares of Arch Capital Group by 61.1% in the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after buying an additional 1,560,173 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Arch Capital Group by 61.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock valued at $237,017,000 after buying an additional 1,216,080 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Arch Capital Group by 11.4% during the first quarter. Principal Financial Group Inc. now owns 6,800,236 shares of the insurance provider’s stock worth $628,614,000 after acquiring an additional 693,608 shares during the period. Finally, Gladstone Capital Management LLP raised its position in Arch Capital Group by 52.8% in the fourth quarter. Gladstone Capital Management LLP now owns 1,385,307 shares of the insurance provider’s stock worth $102,887,000 after acquiring an additional 478,570 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Stock Up 0.1 %

ACGL stock opened at $113.25 on Wednesday. The company has a 50 day moving average of $100.67 and a two-hundred day moving average of $96.74. The company has a market cap of $42.59 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 2.05 and a beta of 0.58. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $114.28. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the company earned $1.92 earnings per share. Arch Capital Group’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts anticipate that Arch Capital Group Ltd. will post 9.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ACGL shares. Evercore ISI raised their price objective on shares of Arch Capital Group from $100.00 to $104.00 and gave the company an “in-line” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Arch Capital Group from $106.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. JMP Securities upped their price target on Arch Capital Group from $110.00 to $115.00 and gave the company a “market outperform” rating in a report on Wednesday, July 31st. Wells Fargo & Company cut their price objective on Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Arch Capital Group from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.50.

Insider Transactions at Arch Capital Group

In related news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.20% 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.