Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Acquired by Chase Investment Counsel Corp

Chase Investment Counsel Corp increased its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 39,656 shares of the insurance provider’s stock after acquiring an additional 148 shares during the period. Arch Capital Group makes up about 1.3% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 25th largest position. Chase Investment Counsel Corp’s holdings in Arch Capital Group were worth $2,945,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ACGL. Envestnet Asset Management Inc. lifted its holdings in shares of Arch Capital Group by 112.4% during the third quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider’s stock valued at $208,905,000 after purchasing an additional 1,387,072 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Arch Capital Group by 597.9% during the third quarter. Hsbc Holdings PLC now owns 1,419,944 shares of the insurance provider’s stock valued at $113,516,000 after purchasing an additional 1,216,498 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Arch Capital Group by 316.7% during the third quarter. Assetmark Inc. now owns 977,982 shares of the insurance provider’s stock valued at $77,955,000 after purchasing an additional 743,303 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Arch Capital Group by 16.3% during the third quarter. Invesco Ltd. now owns 3,385,665 shares of the insurance provider’s stock valued at $269,871,000 after purchasing an additional 475,464 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Arch Capital Group during the fourth quarter valued at $295,440,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Up 0.3 %

ACGL stock traded up $0.31 during mid-day trading on Monday, hitting $91.21. The stock had a trading volume of 918,527 shares, compared to its average volume of 1,685,620. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 1-year low of $69.05 and a 1-year high of $95.01. The company has a fifty day moving average of $90.34 and a 200 day moving average of $84.43. The stock has a market capitalization of $34.22 billion, a price-to-earnings ratio of 7.87, a PEG ratio of 1.13 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Thursday, February 15th. The insurance provider reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.55. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.67 billion. Arch Capital Group had a return on equity of 21.94% and a net margin of 32.59%. During the same quarter in the prior year, the firm posted $2.14 EPS. On average, equities analysts expect that Arch Capital Group Ltd. will post 8.03 EPS for the current fiscal year.

Insider Activity

In other news, CEO Maamoun Rajeh sold 50,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the transaction, the chief executive officer now owns 336,170 shares of the company’s stock, valued at approximately $29,408,151.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total value of $5,251,200.00. Following the sale, the insider now owns 651,931 shares of the company’s stock, valued at approximately $57,057,001.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Maamoun Rajeh sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total value of $4,374,000.00. Following the completion of the sale, the chief executive officer now directly owns 336,170 shares in the company, valued at approximately $29,408,151.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 135,689 shares of company stock valued at $11,872,217. Insiders own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ACGL. JMP Securities reaffirmed a “market outperform” rating and set a $100.00 target price on shares of Arch Capital Group in a report on Monday, April 15th. StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $98.00 price objective on shares of Arch Capital Group in a research note on Friday, February 16th. UBS Group reduced their price objective on Arch Capital Group from $101.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, January 10th. Finally, JPMorgan Chase & Co. increased their price objective on Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.23.

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.