CIBC Private Wealth Group LLC Acquires 2,267 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

CIBC Private Wealth Group LLC increased its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 35.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,614 shares of the insurance provider’s stock after purchasing an additional 2,267 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Arch Capital Group were worth $798,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Arch Capital Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 41,999,603 shares of the insurance provider’s stock worth $3,878,663,000 after acquiring an additional 182,150 shares during the period. State Street Corp grew its stake in shares of Arch Capital Group by 1.1% during the third quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock worth $1,855,803,000 after purchasing an additional 172,628 shares during the period. Geode Capital Management LLC increased its holdings in Arch Capital Group by 2.4% in the third quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock valued at $1,208,307,000 after purchasing an additional 253,648 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Arch Capital Group by 10.5% in the fourth quarter. Principal Financial Group Inc. now owns 8,222,244 shares of the insurance provider’s stock valued at $759,324,000 after buying an additional 783,506 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Arch Capital Group by 4.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,350,868 shares of the insurance provider’s stock worth $488,992,000 after buying an additional 226,617 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ACGL. Morgan Stanley cut their price target on shares of Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Wells Fargo & Company reduced their price target on shares of Arch Capital Group from $107.00 to $106.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and issued a $125.00 price objective on shares of Arch Capital Group in a research report on Tuesday, February 11th. Royal Bank of Canada dropped their price objective on Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. decreased their target price on Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. 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, Arch Capital Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.19.

Arch Capital Group Stock Down 8.8 %

Shares of ACGL stock opened at $87.83 on Friday. The firm’s fifty day moving average price is $92.23 and its two-hundred day moving average price is $97.68. The company has a current ratio of 0.54, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15. Arch Capital Group Ltd. has a 1 year low of $87.42 and a 1 year high of $116.47. The firm has a market capitalization of $33.00 billion, a P/E ratio of 7.84, a PEG ratio of 2.31 and a beta of 0.36.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.36. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. During the same period in the previous year, the business posted $2.45 earnings per share. On average, equities analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In other news, insider Louis T. Petrillo sold 11,600 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total value of $1,055,600.00. Following the completion of the sale, the insider now owns 140,023 shares of the company’s stock, valued at approximately $12,742,093. This represents a 7.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company’s stock.

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.