Norges Bank Acquires Shares of 4,735,145 Arch Capital Group Ltd. (NASDAQ:ACGL)

Norges Bank acquired a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,735,145 shares of the insurance provider’s stock, valued at approximately $437,291,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Madison Investment Advisors LLC purchased a new stake in shares of Arch Capital Group during the fourth quarter valued at approximately $410,010,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Arch Capital Group by 245.1% during the 3rd 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 valued at $341,652,000 after purchasing an additional 2,168,897 shares in the last quarter. Swedbank AB increased its stake in Arch Capital Group by 268.8% during the 4th quarter. Swedbank AB now owns 1,261,957 shares of the insurance provider’s stock worth $116,542,000 after buying an additional 919,793 shares during the period. Egerton Capital UK LLP lifted its holdings in Arch Capital Group by 25.8% in the 4th quarter. Egerton Capital UK LLP now owns 3,987,972 shares of the insurance provider’s stock worth $368,289,000 after buying an additional 816,750 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Arch Capital Group by 10.5% in the 4th 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 last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ACGL. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 target price on shares of Arch Capital Group in a research report on Tuesday, February 11th. Keefe, Bruyette & Woods dropped their price objective on Arch Capital Group from $120.00 to $113.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. reduced 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. Royal Bank of Canada dropped their price target on shares of Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. Finally, Barclays reduced their price objective on shares of Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arch Capital Group currently has a consensus rating of “Moderate Buy” and an average target price of $117.19.

Insider Activity at Arch Capital Group

In other news, insider Louis T. Petrillo sold 11,600 shares of the stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.20% of the stock is owned by insiders.

Arch Capital Group Stock Performance

Shares of ACGL opened at $95.06 on Friday. The firm has a fifty day moving average of $92.16 and a 200-day moving average of $98.27. The company has a market cap of $35.68 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 2.31 and a beta of 0.62. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.58 and a current ratio of 0.54. Arch Capital Group Ltd. has a 1 year low of $87.42 and a 1 year high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last posted its 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 net margin of 24.73% and a return on equity of 17.96%. During the same period in the previous year, the business posted $2.45 earnings per share. As a group, equities analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current 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.