Harbor Capital Advisors Inc. Raises Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Harbor Capital Advisors Inc. raised its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,878 shares of the insurance provider’s stock after acquiring an additional 116 shares during the period. Harbor Capital Advisors Inc.’s holdings in Arch Capital Group were worth $993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. acquired a new position in shares of Arch Capital Group in the 2nd quarter valued at about $30,000. Baldwin Brothers LLC MA lifted its position in Arch Capital Group by 50.7% during the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after buying an additional 104 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Arch Capital Group during the second quarter worth approximately $35,000. LRI Investments LLC acquired a new stake in shares of Arch Capital Group in the first quarter worth $38,000. Finally, Versant Capital Management Inc increased its position in shares of Arch Capital Group by 40.3% in the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 131 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ACGL. Bank of America upped their price target on shares of Arch Capital Group from $119.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. increased their target price on Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Barclays assumed coverage on Arch Capital Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price target on the stock. Citigroup increased their price objective on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Finally, TD Cowen boosted their target price on shares of Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $118.88.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.20% of the stock is currently owned by company insiders.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $101.70 on Thursday. The stock has a market capitalization of $38.25 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 1.36 and a beta of 0.61. Arch Capital Group Ltd. has a one year low of $72.85 and a one year high of $116.47. The company’s 50-day simple moving average is $109.86 and its 200-day simple moving average is $102.92. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.60 and a current ratio of 0.58.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter last year, the business posted $2.31 EPS. Equities analysts anticipate that Arch Capital Group Ltd. will post 9.09 earnings per share for the current fiscal year.

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.