Pictet Asset Management Holding SA Purchases 31,591 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Pictet Asset Management Holding SA lifted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 16.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 228,753 shares of the insurance provider’s stock after acquiring an additional 31,591 shares during the period. Pictet Asset Management Holding SA’s holdings in Arch Capital Group were worth $21,125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. High Ground Investment Management LLP lifted its stake in Arch Capital Group by 246.3% during the fourth quarter. High Ground Investment Management LLP now owns 1,108,464 shares of the insurance provider’s stock worth $102,367,000 after purchasing an additional 788,393 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Arch Capital Group in the fourth quarter valued at about $2,995,000. Norges Bank acquired a new stake in Arch Capital Group in the fourth quarter valued at about $437,291,000. AssuredPartners Investment Advisors LLC bought a new position in Arch Capital Group in the fourth quarter valued at about $635,000. Finally, NEOS Investment Management LLC raised its stake in Arch Capital Group by 30.7% during the fourth quarter. NEOS Investment Management LLC now owns 21,166 shares of the insurance provider’s stock worth $1,955,000 after acquiring an additional 4,975 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In related 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 transaction of $1,055,600.00. Following the completion of the sale, the insider now directly owns 140,023 shares of the company’s stock, valued at approximately $12,742,093. This trade represents a 7.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods dropped their price target on Arch Capital Group from $120.00 to $113.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Morgan Stanley cut their target price 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 decreased their price target on shares of Arch Capital Group from $107.00 to $106.00 and set an “overweight” rating for the company in a research report on Wednesday, February 12th. UBS Group cut their price target on shares of Arch Capital Group from $131.00 to $127.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Finally, Barclays decreased 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. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.19.

Arch Capital Group Trading Up 1.2 %

NASDAQ ACGL opened at $96.18 on Tuesday. The company has a current ratio of 0.54, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $92.17 and a 200 day simple moving average of $98.00. Arch Capital Group Ltd. has a 12 month low of $87.42 and a 12 month high of $116.47. The firm has a market capitalization of $36.14 billion, a P/E ratio of 8.59, a PEG ratio of 2.31 and a beta of 0.62.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Monday, February 10th. The insurance provider reported $2.26 EPS for the quarter, beating 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 prior year, the company earned $2.45 earnings per share. On average, analysts predict that Arch Capital Group Ltd. will post 8.42 EPS 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.