Skandinaviska Enskilda Banken AB publ Has $24 Million Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 214.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 237,908 shares of the insurance provider’s stock after buying an additional 162,147 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Arch Capital Group were worth $24,004,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ACGL. AE Wealth Management LLC boosted its stake in Arch Capital Group by 15.2% in the second quarter. AE Wealth Management LLC now owns 2,543 shares of the insurance provider’s stock valued at $257,000 after buying an additional 336 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Arch Capital Group by 12.7% in the second quarter. Canada Pension Plan Investment Board now owns 287,091 shares of the insurance provider’s stock valued at $28,965,000 after buying an additional 32,370 shares in the last quarter. Brighton Jones LLC acquired a new stake in Arch Capital Group in the second quarter valued at about $211,000. Sienna Gestion boosted its stake in Arch Capital Group by 12.5% in the second quarter. Sienna Gestion now owns 4,472 shares of the insurance provider’s stock valued at $451,000 after buying an additional 498 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Arch Capital Group by 9.6% in the second quarter. Hsbc Holdings PLC now owns 453,241 shares of the insurance provider’s stock valued at $45,509,000 after buying an additional 39,783 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Price Performance

Shares of ACGL opened at $113.24 on Friday. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $114.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $42.59 billion, a price-to-earnings ratio of 8.94, a price-to-earnings-growth ratio of 2.07 and a beta of 0.60. The business has a 50-day moving average of $103.82 and a 200-day moving average of $98.71.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 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 analysts’ expectations of $3.89 billion. During the same quarter last year, the firm posted $1.92 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. As a group, equities research analysts anticipate that Arch Capital Group Ltd. will post 9.01 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Francois Morin sold 11,460 shares of the firm’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 transaction 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 $22,723,476.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on ACGL. Roth Mkm raised their price objective on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Bank of America reduced their price objective on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Royal Bank of Canada increased their target price on Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Wells Fargo & Company dropped their target price 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 increased their target price on Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.73.

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.