Oppenheimer Asset Management Inc. Buys 1,135 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Oppenheimer Asset Management Inc. raised its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.9% during the fourth quarter, HoldingsChannel reports. The fund owned 121,080 shares of the insurance provider’s stock after acquiring an additional 1,135 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Arch Capital Group were worth $11,182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its stake in shares of Arch Capital Group by 1.1% during the 3rd 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 lifted its stake 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 worth $1,208,307,000 after purchasing an additional 253,648 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Arch Capital Group by 10.5% during 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. Allspring Global Investments Holdings LLC grew its stake in shares of 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 valued at $488,992,000 after buying an additional 226,617 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Arch Capital Group by 245.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,739 shares of the insurance provider’s stock worth $341,652,000 after buying an additional 2,168,897 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays dropped their price objective on Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Morgan Stanley lowered their target price on shares of Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 price target on shares of Arch Capital Group in a research note on Tuesday, February 11th. Keefe, Bruyette & Woods decreased their price objective on shares of Arch Capital Group from $120.00 to $113.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Royal Bank of Canada dropped their target price on shares of 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. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arch Capital Group presently has an average rating of “Moderate Buy” and a consensus price target of $117.19.

Arch Capital Group Stock Performance

Shares of NASDAQ:ACGL opened at $92.10 on Friday. The firm has a 50 day moving average of $92.00 and a 200 day moving average of $100.42. The company has a quick ratio of 0.58, a current ratio of 0.54 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $34.65 billion, a price-to-earnings ratio of 8.22, a price-to-earnings-growth ratio of 2.31 and a beta of 0.64. Arch Capital Group Ltd. has a 52 week low of $86.41 and a 52 week high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $2.26 EPS for the quarter, topping 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 last year, the business posted $2.45 earnings per share. On average, sell-side analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

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.