Cetera Investment Advisers Raises Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Cetera Investment Advisers raised its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 18.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,193 shares of the insurance provider’s stock after purchasing an additional 7,652 shares during the quarter. Cetera Investment Advisers’ holdings in Arch Capital Group were worth $4,963,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Elo Mutual Pension Insurance Co increased its holdings in Arch Capital Group by 4.2% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 32,423 shares of the insurance provider’s stock worth $2,408,000 after buying an additional 1,315 shares during the period. Unigestion Holding SA purchased a new position in shares of Arch Capital Group during the fourth quarter worth $461,000. Nebula Research & Development LLC acquired a new position in Arch Capital Group during the fourth quarter valued at $1,195,000. Credit Capital Investments LLC purchased a new stake in Arch Capital Group in the fourth quarter valued at $493,000. Finally, LM Advisors LLC acquired a new stake in Arch Capital Group during the 4th quarter worth about $310,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Francois Morin sold 11,460 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at $22,723,476.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.20% of the stock is owned by insiders.

Analyst Ratings Changes

ACGL has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their target price on Arch Capital Group from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Roth Mkm boosted their price target 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. 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 report on Tuesday, September 10th. Barclays began coverage on shares of Arch Capital Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 target price for the company. Finally, TD Cowen raised their price target on shares of Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.07.

Arch Capital Group Price Performance

NASDAQ:ACGL opened at $109.91 on Wednesday. Arch Capital Group Ltd. has a one year low of $72.85 and a one year high of $116.47. The stock has a market cap of $41.27 billion, a PE ratio of 8.67, a P/E/G ratio of 2.06 and a beta of 0.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a 50 day moving average price of $107.92 and a 200 day moving average price of $100.90.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly 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. The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.92 EPS. Equities research analysts expect 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.