Davis Asset Management L.P. Boosts Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Davis Asset Management L.P. grew its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 441.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,500,000 shares of the insurance provider’s stock after buying an additional 5,300,000 shares during the quarter. Arch Capital Group makes up approximately 19.5% of Davis Asset Management L.P.’s portfolio, making the stock its largest holding. Davis Asset Management L.P.’s holdings in Arch Capital Group were worth $482,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in ACGL. Householder Group Estate & Retirement Specialist LLC bought a new stake in Arch Capital Group in the 4th quarter valued at $27,000. Larson Financial Group LLC acquired a new stake in Arch Capital Group during the fourth quarter worth about $30,000. CVA Family Office LLC acquired a new position in Arch Capital Group in the 4th quarter valued at approximately $47,000. Covestor Ltd lifted its position in shares of Arch Capital Group by 342.9% in the 3rd quarter. Covestor Ltd now owns 899 shares of the insurance provider’s stock worth $72,000 after acquiring an additional 696 shares during the period. Finally, Operose Advisors LLC acquired a new stake in shares of Arch Capital Group during the 3rd quarter worth approximately $75,000. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Trading Down 0.7 %

Shares of ACGL stock traded down $0.63 on Thursday, reaching $95.17. The company had a trading volume of 1,458,021 shares, compared to its average volume of 1,734,877. The stock has a market cap of $35.70 billion, a PE ratio of 7.49, a PEG ratio of 1.16 and a beta of 0.56. The company has a 50-day moving average of $90.82 and a 200-day moving average of $84.63. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 12 month low of $69.05 and a 12 month high of $96.58.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Monday, April 29th. The insurance provider reported $2.45 EPS for the quarter, beating the consensus estimate of $2.06 by $0.39. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.77 billion. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 earnings per share. On average, equities analysts forecast that Arch Capital Group Ltd. will post 8.09 earnings per share for the current year.

Wall Street Analyst Weigh In

ACGL has been the subject of several research reports. Citigroup reduced their target price on Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating for the company in a research report on Monday, January 22nd. Morgan Stanley lifted their target price on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. JMP Securities lifted their price target on shares of Arch Capital Group from $100.00 to $110.00 and gave the company a “market outperform” rating in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $98.00 price objective on shares of Arch Capital Group in a research note on Friday, February 16th. Finally, TD Cowen initiated coverage on Arch Capital Group in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $96.00 target price for the company. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.67.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 651,931 shares in the company, valued at $57,057,001.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of Arch Capital Group stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $87.52, for a total value of $5,251,200.00. Following the transaction, the insider now owns 651,931 shares of the company’s stock, valued at $57,057,001.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Francois Morin sold 25,689 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at approximately $19,399,009.13. The disclosure for this sale can be found here. Insiders sold a total of 135,689 shares of company stock worth $11,872,217 in the last quarter. Corporate insiders own 4.20% of the company’s stock.

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.