AQR Capital Management LLC Raises Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

AQR Capital Management LLC raised its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 9.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,575,266 shares of the insurance provider’s stock after purchasing an additional 141,577 shares during the quarter. AQR Capital Management LLC owned 0.42% of Arch Capital Group worth $158,551,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. purchased a new position in Arch Capital Group during the second quarter valued at approximately $30,000. Baldwin Brothers LLC MA lifted its holdings 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 purchasing an additional 104 shares in the last quarter. Richardson Financial Services Inc. purchased a new position in Arch Capital Group during the fourth quarter valued at approximately $33,000. Rothschild Investment LLC purchased a new position in Arch Capital Group during the second quarter valued at approximately $35,000. Finally, LRI Investments LLC purchased a new position in Arch Capital Group during the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In other 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 value of $1,174,191.60. Following the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at $22,723,476.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ACGL shares. Barclays started coverage on shares of Arch Capital Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Arch Capital Group from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Citigroup boosted their target price on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Evercore ISI boosted their target price on shares of Arch Capital Group from $100.00 to $104.00 and gave the stock an “in-line” rating in a report on Wednesday, July 31st. Finally, Roth Mkm boosted their target price on shares of Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $113.73.

Arch Capital Group Price Performance

Arch Capital Group stock opened at $113.07 on Thursday. The company has a market cap of $42.52 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 2.06 and a beta of 0.60. The firm’s fifty day moving average is $105.11 and its 200 day moving average is $99.50. 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 Ltd. has a 52-week low of $72.85 and a 52-week high of $114.69.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.36. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm posted $1.92 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts forecast that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

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.